Dubai … the global hub for “Metaverse” development  

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The Metaverse world is growing day by day, revealing new horizons for its applications in various fields of our daily lives, forming a new turning point in the history of human creativity and resulting in the creation of innovative digital worlds that affect every sector and every life in the world, But where and how can we explore the Metaverse world?

For various logical reasons, the answer to that question is Dubai.

Having opened the “Museum of the Future”, considered an engineering and urban marvel as well as the most beautiful building in the world this year, Dubai has become a symbol of impressive achievements.

Recognizing that there is no finish line for excellence and leadership, Dubai has become the perfect choice to launch a new epic journey that explores inspiring virtual worlds and welcomes new opportunities for the smart societies of the future, by utilizing technology, innovation, digital solutions, and their applications, particularly the Metaverse.

In addition to adopting the “Dubai Metaverse Strategy” last July, the UAE’s innovation policy characterized by proactive and flexible regulatory and legislative frameworks constitutes an incubator that supports the latest technology applications.

Home to “Area 2071” of the Dubai Future Foundation for creating a better future for humanity in the next 50 years, Dubai has established a strong digital infrastructure, becoming a global hub for talent, experts, and pioneers from around the world as well as a land fertile with opportunities for technology companies and start-ups in the sectors of innovation, future design and the development of artificial intelligence applications.

By providing all the necessary components to utilize innovation, technology, and the research and development system to boost creativity, progress, and prosperity projects, Dubai managed to become an attractive destination for innovators, creators, and the world’s leading technology companies, sectors, and applications, thereby providing a basis on which to build Dubai as a global hub for Metaverse applications development.

Furthermore, Dubai boasts a unique combination of strong and flexible regulatory frameworks and a stable and supportive business environment, in addition to policies and strategies that stimulate a culture of innovation, empower local talent, and attract global talent.

Dubai provides an ideal environment for skilled and talented professionals of every nationality and backgrounds in every field, evidenced by its attractiveness as a place to live and a one of the best cities in the world, given its leadership in adopting and developing the latest global trends, in addition to its status as one of the world’s fastest-growing economies.

This culminates in Dubai’s unlimited support for harnessing emerging technologies that will accelerate the transition to a digital economy, through a set of strategies, programs, and initiatives designed to support new technologies that will, in turn, enable a global Metaverse community originating in Dubai and expanding everywhere.

Dubai’s technological leadership is largely due to the UAE’s advanced digital infrastructure characterized by the fastest mobile broadband connection in the world, and its status as the only Arab country among the top 10 most digitally competitive countries in the world, it also ranked first on Global Entrepreneurship Index 2022.

Launched in July 2022, the “Dubai Metaverse Strategy” announced by Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Chairman of the Executive Council and the Board of Trustees of the Dubai Future Foundation, embodies Dubai’s ambition to be one of the top 10 economies in the Metaverse world globally.

This strategy aims to provide up to 40,000 additional virtual jobs in fields such as augmented and virtual reality while generating a $4 billion increase in the city’s GDP by 2030. 

Given that partnerships and collaborations with economies and governments are critical to realizing the full potential of Metaverse-related technologies, Dubai is cooperating with partners from around the world to shape the future of Metaverse applications for the benefit of humanity.

In addition, private sector companies, including those specializing in technologies associated with Metaverse technology, such as NFTs and blockchains will play a critical role in the next stage.

To facilitate the cooperation that will shape the future of the Metaverse, Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum announced the “Dubai Metaverse Forum” organized by the Dubai Future Foundation last September, with over 300 regional and international experts and dozens of international companies participating.

The forum explored the prospects of the digital economy and identified how governments and companies can unlock the unlimited potential of the Metaverse. 

In addition, the first-of-its-kind forum in Dubai and the region has highlighted the UAE’s potential as a leading center for empowering pioneers and providing them with the essential tools to build the future of the Metaverse.

The level of organization shown in the Dubai Metaverse Forum reflects the world’s confidence in the future of emerging virtual worlds, which will undoubtedly form a vital part of people’s lives, work, and interactions in the future.

In conclusion, Dubai strives to become one of the world’s 10 largest economies in Metaverses, which will prove to be vital to economies and societies over the coming years, therefore, humanity must have the necessary talent, expertise, and capabilities needed to start the massive expansion of Metaverse applications, and prepare ideal platforms to boost the interoperability of these capabilities.

Having created one of the most capable and supportive environments in the world for Metaverse development, Dubai can now be that integrated pioneering platform.

References: Emirates News Agency (WAM)

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