In line with the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum and H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, on July 18, launched the Dubai Metaverse Strategy that aims to turn Dubai into one the world’s top 10 metaverse economies as well as a global hub for the metaverse community.
His Highness Sheikh Hamdan underscored the importance of consolidating Dubai’s status as a hub offering the most advanced ecosystem for the metaverse and as a frontrunner in adopting digital solutions globally, which reflects the ambitious vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum for transforming the emirate into a global capital of advanced technologies, primarily artificial intelligence (AI) and Web3.
The strategy aims to build on Dubai’s achievement of attracting more than 1,000 companies in the fields of blockchain and metaverse. It also promotes Dubai’s ambitions to support more than 40,000 virtual jobs by 2030. This would further boost Dubai’s economy and support the UAE government’s vision of increasing the number of blockchain companies by five times the present number.
Sheikh Hamdan said that Dubai is making great strides in enhancing its position as a global testbed for metaverse technology while investing judiciously in building capabilities and talent in creating the region’s most robust and largest ecosystem for the metaverse community. His Highness added that adopting new technologies will be a stepping stone in Dubai’s vision to use future technologies to create new work models in vital sectors and increase the metaverse’s impact on regional and global economies.
Commenting on the launch of the Dubai Metaverse Strategy, Omar bin Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy, and Teleworking Applications, and Deputy Managing Director of the Dubai Future Foundation, reiterated the importance of designing the future with new digital strategies for adopting the metaverse in vital sectors. He added that the metaverse would drive the UAE’s and Dubai’s efforts to provide innovative solutions, positively impact people’s lives, and transform the city into one of the smartest hubs worldwide offering new economic opportunities.
The Dubai Metaverse Strategy aims to foster innovation, enhance the metaverse’s economic contributions through R&D collaborations, and promote advanced ecosystems utilising accelerators and incubators that attract companies and projects to Dubai.