Dubai scorches cryptocurrency winter with plans to support 40,000 ‘virtual jobs’

In five years, Dubai hopes to be one of the top ten cities in the world in the metaverse economy, creating 40,000 virtual jobs and adding US$4 billion to the city’s economy.

Quick facts

  • Crown Prince Sheikh Hamdan bin Mohammed announced the Dubai Metaverse Strategy on Monday, with the goal of encouraging innovation in new technology.
  • According to him, the Emirati state is home to over 1,000 companies operating in the metaverse and blockchain sectors, which contribute US$500 million to the national economy.
  • Bin Mohammed’s strategy entails tripling the number of blockchain and metaverse companies in five years.
  • Dubai also intends to develop metaverse use-cases and applications for its government, as well as cultivate industry talent through education and training. 

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