Dubai is trying to become one of the 10 largest economies in the metaverse world through the creation 40,000 virtual jobs which will increase the city’s GDP by $4 billion in just 5 years.
The government aims to create global standard secure platforms for users of the metaverse, as well as infrastructure and legislation to support this development project.
The plan launched by Prince Hamdan bin Mohammed of Dubai includes quintupling of the companies of the blockchain within 5 years. It should be noted that Dubai is already the headquarters of over 1,000 companies operating in the metaverse and blockchain sectors. These companies increase annual public revenues by $500 million.
“The strategy is focused on developing talent and investing in future technologies that will enable developers, content creators and users of digital platforms in the metaverse ecosystem,” the government media outlet said
The country’s largest companies are already switching to the metaverse. Emirates has announced that it will expand the use of this technology, while Damac Group aims to create virtual cities.
According to the Khaleej Times, the health care company Thumbay is going to create a virtual hospital for digital medical visits in the coming months.
Meanwhile, Dubai continues to attract companies cryptocurrency. Some of the largest companies in this field such as Binance and the FTX have already obtained a commercial license to do business in the city.