The Crown Prince of Dubai introduces a 100-day metaverse strategy

News Report Business

In Brief

Sheikh Hamdan continues enhancing Dubai’s metaverse strategy

The city introduced a 100-day metaverse strategy plan aimed at government organizations and businesses


The Trust Project is a worldwide group of news organizations working to establish transparency standards.

Dubai, the most populous city of the UAE, aims to become one of the leading metaverse investment hubs and economies. 

As more crypto investors and entrepreneurs move to Dubai, the government is enhancing its metaverse strategy and digital economy. Last week, the Crown Prince of Dubai and the Chairman of Dubai’s Higher Committee of Future Technology Development and Digital Economy, Sheikh Hamdan, approved a new step of the metaverse strategy. 

On November 24, Sheikh Hamdan introduced a 100-day plan aimed at government organizations. The strategy involves the application of measures that would empower the use of digital technologies and the metaverse. The initiative also seeks to educate the citizens on the metaverse. More than that, Sheikh Hamdan plans to build a virtual metaverse community that would include investors, tech startups, and users. 

Along with the institutions, the updated strategy features possible partnerships with private businesses and event companies. The latter will organize global metaverse-related conferences that would help Dubai become the leading metaverse hub. 

Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum first launched the Dubai Metaverse Strategy in July this year. The goal is to add $4 billion to Dubai’s economy and to create 40,000 virtual job places within the next five years.

Several Dubai-based institutions are already participating in the strategy of the future. In May, Dubai’s Virtual Assets Regulatory Authority shared the plans to create its headquarters within the virtual world The Sandbox. In September, the UAE Ministry of Economy announced the development of its metaverse headquarters at the Dubai Metaverse Assembly.

Disclaimer

Any data, text, or other content on this page is provided as general market information and not as investment advice. Past performance is not necessarily an indicator of future results.

Valeria Goncharenko

Valeria is an Italy-based writer passionate about Web3 and innovation. She is getting her second Major in International Business Management while dedicating her spare time to photography and fashion.

Follow Author

More Articles