Tuesday Jul 19, 2022
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.