Dubai announced its Metaverse Strategy last May, which aims to turn Dubai into one of the world’s top 10 metaverse economies as well as a global hub for the metaverse community. To discuss the ways the industry can expand within the Emirates, technology experts and people from the metaverse community were invited to an assembly to discuss opportunities and ways that the industry’s potential can be unlocked, according to Arab News. This assembly is organized by the Dubai Future Foundation and is titled “The Dubai Metaverse Assembly” at the Museum of the Future.
The National News reported that among the guests who made it to the assembly were hundreds of global experts and policymakers specializing in the metaverse and digital technologies. They attended the first day of the inaugural Dubai Metaverse Assembly, which was on Wednesday.
Sheikh Hamdan bin Mohammed bin Rashid Al-Maktoum, Crown Prince of Dubai and Chairman of the Dubai Executive Council, made an appearance on Wednesday and stated that the metaverse “will shape a new digital future for humanity,” according to The National News. Sheikh Hamdan talked more about how Dubai is emerging as a major contributor to shaping a new global vision for advanced technology and a pioneer in adopting next-generation digital innovation. He went further to say that the metaverse can generate solutions for some of the world’s most critical challenges.
The UAE has shown that it is willing to stake money in the high-risk field of innovative technology. Emirati leaders believe that the tech industry will eventually replace the oil industry as the nation works to diversify its economy, according to the Arab Gulf States Institute in Washington. The Metaverse sector is predicted to strengthen the UAE’s total industrial competitiveness, lower prices, boost production and efficiency, enhance safety, and create new jobs.
Earlier this month, from Sept. 11 to 14, industry professionals and investors convened at the Grand Hyatt Dubai hotel for the MetaWeek Summit. This event covered the metaverse development and design, investment strategies, digital asset market and management, security and accessibility, and media brands’ paradigm shifts. It also showed off the huge interest that Dubai has in the metaverse sector, and the funding that the country has established for the growth of the tech industry.
