Sci-Tech
Tuesday Jul 19 2022
By
Web Desk

Metaverse Plan: Dubai targeting 40,000 virtual jobs in five years

By
Web Desk
Visitors are pictured in front of an immersive art installation titled Machine Hallucinations — Space: Metaverse by media artist Refik Anadol, which will be converted into NFT and auctioned online at Sothebys, at the Digital Art Fair, in Hong Kong, China September 30, 2021.— Reuters
Visitors are pictured in front of an immersive art installation titled "Machine Hallucinations — Space: Metaverse" by media artist Refik Anadol, which will be converted into NFT and auctioned online at Sotheby's, at the Digital Art Fair, in Hong Kong, China September 30, 2021.— Reuters 

  • Dubai to add $4 billion to city’s GDP in next five years.
  • Plan launched by Dubai Crown Prince Sheikh Hamdan bin Mohammed.
  • More than 1,000 companies in metaverse and blockchain sector are already settled in Dubai.


Aiming to break into the world's top 10 metaverse economies, Dubai is adopting a new strategy where it will be targeting 40,000 virtual jobs and add $4 billion to the city’s GDP in the next five years, reported Bloomberg.

WAM news agency reported the Dubai government was seeking to develop global standards for users. The government wants to create regulations so that newer technologies can be adopted as soon as possible.

The plan was launched by Dubai Crown Prince Sheikh Hamdan bin Mohammed, who supports the government's goal to increase the number of blockchain companies by five times. 

More than 1,000 companies in the metaverse and blockchain sector are already settled in Dubai. Sheikh Hamdan said that these contributed $500 million to the country's economy.

“Strategy emphasises fostering talent and investing in future capabilities by providing the required support to developers, content creators, and users of digital platforms in the metaverse community," said WAM.

Many big companies in the city are already dipping their feet in the metaverse, reported Khaleej Times.