The Dubai Metaverse supports the promotion of the full deployment of 5G networks to collect, store and process data locally through smart devices and local networks instead of the cloud.
One of the leading cryptocurrency hubs in the Middle East, the emirate of Dubai, is launching its “Dubai Metaverse” strategy that aims to transform the emirate, into one of the top 10 economies in the Metaverse.
The strategy promotes Dubai’s ambitions to support more than 40,000 digital jobs by 2030.
The Sheikh of Dubai, Hamdan bin Mohammed bin Rashid Al Maktoum wants to transform the emirate into a global technology capital, focusing primarily on artificial intelligence (AI) and Web3.
His strategy, called Dubai Metaverse, is in line with the objectives of the UAE’s AI strategy.
The strategy will include research and development (R&D) partnerships to enhance the economic contribution of the metaverse, the use of accelerators and incubators to attract companies and projects from abroad, and the provision of metaverse training support aimed at developers, content creators and digital platform users.
In this context, it promises to create new models of work in tourism, education, retail, teleworking, healthcare and the legal sector.
The key pillars are said to be augmented reality (AR), virtual reality (VR), mixed reality and digital twins – a virtual representation of an object or system.
Dubai Metaverse supports the promotion of the full deployment of 5G networks to collect, store and process data locally through smart devices and local networks instead of the cloud.
According to the announcement, VR and AR have created 6,700 jobs and contributed $500 million to the UAE economy.
Globally, the value of venture capital and private equity funding in the metaverse reached $13 billion in 2021, while real estate sales in the metaverse exceeded $500 million last year.
Previous Articles:
- Ethereum is up 50% this week, but ETC is the real winner. Here’s what to expect.
- Shinjiru Hosting Review: Powerful Offshore Hosting Solution
- Hawk Host Review: Here’s what you need to know
- ApeCoin (APE) prepares for a rally of 45% after Otherside metaverse demo
- Former Ripple Executives Raise $6 Million For New Startup NFT
