Leaders of Dubai want the most populous city in the United Arab Emirates (UAE) to become one of the world’s top 10 metaverse economies.
The Dubai Metaverse Strategy, launched on Monday, aims to attract more than 1,000 blockchain and metaverse companies to the city as well as support more than 40,000 virtual jobs by 2030, according to an announcement published on the UAE official news agency WAM. “This would further boost Dubai’s economy and support the UAE government’s vision of increasing the number of blockchain companies by five times the present number,” the announcement said.
The metaverse is expected to drive the UAE’s efforts to “provide innovative solutions, positively impact people’s lives, and transform the city into one of the smartest hubs worldwide offering new economic opportunities,” according to Omar bin Sultan Al Olama, UAE minister of state for artificial intelligence and digital economy. According to the announcement, virtual reality (VR) and augmented reality (AR), which facilitate the metaverse, are currently responsible for 6,700 jobs in the UAE, contributing around $500 million to the country’s economy.
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