Business News Report
February 15, 2023

UAE’s Majid Al Futtaim Launches World’s First Metaverse Shopping Mall in Decentraland

metaverse mall

The Emirati mall, Majid Al Futtaim, unveils the first virtual mall in Dubai, known as the Mall of the Metaverse, based in Decentraland.

Following multiple testing stages, the Mall of the Metaverse will offer visitors digital experiences in retail, entertainment, and leisure. Inside the mall, customers’ avatars will have access to popular brands such as Carrefour, VOX Cinemas, THAT Concept Store, Ghawali, and Samsung Store, with more brands to join. 

The announcement was made during the World Government Summit. The event takes place from February 13 to 15 and brings together a group of 10,000 international government officials, thought leaders, global experts, and decision-makers. Currently, the mall is in its early stages of development, and the group is examining customers’ needs and expectations.

“We work to leverage behavioural science and data to deliver customers what they want and desire. Our swift consumer observations, followed by an action plan and a series of testing stages, has now led to a fully-fledged project that is a step ahead of online shopping — Mall of the Metaverse,”

said Fatima Zada, director of Omnichannels and Digital, Majid Al Futtaim Shopping Malls. She added that there had been an increasing demand for digital experiences in the past years.

The UAE has been making significant progress in the metaverse. In November of 2022, Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum authorized a new phase of the Dubai Metaverse Strategy. The goal of this strategy is to improve the digital economy and take steps to enable the use of the metaverse and future technologies.

XR firm MetaVRse last year revealed its photorealistic 3D shopping center TheMall, which was set to launch by the end of 2022 but never did. The metaverse shopping center sought to feature 100 floors and 100 million square feet of retail space. Co-founder Alan Smithson of MetaVRse said the size of TheMall was going to be eight times larger than the world’s biggest shopping center, located in Dubai.

Last December, the Mall of the Emirates in Dubai established the world’s first physical NFT store, the “ftNFT Shop.” 

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Agne is a journalist who covers the latest trends and developments in the metaverse, AI, and Web3 industries for the Metaverse Post. Her passion for storytelling has led her to conduct numerous interviews with experts in these fields, always seeking to uncover exciting and engaging stories. Agne holds a Bachelor’s degree in literature and has an extensive background in writing about a wide range of topics including travel, art, and culture. She has also volunteered as an editor for the animal rights organization, where she helped raise awareness about animal welfare issues. Contact her on [email protected].

More articles
Agne Cimerman
Agne Cimerman

Agne is a journalist who covers the latest trends and developments in the metaverse, AI, and Web3 industries for the Metaverse Post. Her passion for storytelling has led her to conduct numerous interviews with experts in these fields, always seeking to uncover exciting and engaging stories. Agne holds a Bachelor’s degree in literature and has an extensive background in writing about a wide range of topics including travel, art, and culture. She has also volunteered as an editor for the animal rights organization, where she helped raise awareness about animal welfare issues. Contact her on [email protected].

Hot Stories
Join Our Newsletter.
Latest News

Supply and Demand Zones

Cryptocurrency, like any other currency, is a financial instrument based on the fundamental economic principles of supply ...

Know More

Top 10 Crypto Wallets in 2024

With the current fast-growing crypto market, the significance of reliable and secure wallet solutions cannot be emphasized ...

Know More
Join Our Innovative Tech Community
Read More
Read more
Binance Completes Stratis Token Swap and Redenomination, Initiates STRAX Trading and Borrowing Services
News Report Technology
Binance Completes Stratis Token Swap and Redenomination, Initiates STRAX Trading and Borrowing Services
March 28, 2024
Bybit Launches VELAR Token on Launchpad, Offers Early Access to Investors
News Report Technology
Bybit Launches VELAR Token on Launchpad, Offers Early Access to Investors
March 28, 2024
Celestia Deploys Blobstream Data Proof Bridge On Base Mainnet
News Report Technology
Celestia Deploys Blobstream Data Proof Bridge On Base Mainnet
March 28, 2024
Bitcoin Layer-2 Project BEVM Unveils Mainnet Launch
News Report Technology
Bitcoin Layer-2 Project BEVM Unveils Mainnet Launch
March 28, 2024
What You
Need to Know

Subscribe To Our Newsletter.
Daily search marketing tidbits for savvy pros.