Dubai and Abu Dhabi will be the first locations to be made available as part of the worldwide metaverse rollout, according to UAE-based Metaverse Holdings.
Their virtual world will reflect actual, true places and events; a beta version is planned to launch in the fourth quarter of 2022 and be made widely accessible soon after. Users will be able to experience the monuments and attractions of both cities from the comfort of their homes, fusing the actual world with the virtual one.
As part of its global Metaverse rollout, Metaverse Holdings has picked Dubai and Abu Dhabi as the first cities to be made available. According to a statement, their state-of-the-art virtual world will accurately reflect real-life events and locales.
A beta version is scheduled to launch in the fourth quarter of 2022 and will thereafter be made widely accessible. The declaration comes in the wake of the recently established Higher Committee for Future Technology and Digital Economy, which will direct Dubai’s initiatives to position itself as a significant global hub for the adoption of metaverse technology.
The new platform is offering a whole Metaverse with full device compatibility and is built to stream swiftly, in contrast to current VR applications that build tiny-scale, digital fantasy worlds.
Users can find alignment between their requirements and the platform’s capabilities, which include NFT’s blockchain trading, the ability to shop and view products in the largest retail locations, the ability to purchase advertising space in the virtual city, the ability to attend simulated lectures, the ability to register for licenses and other official documents, and more.
Dubai-based CEO of Metaverse Holdings, Priven Reddy, said, “After carefully considering other top areas, the decision was taken for Dubai and Abu Dhabi to be the very first simulated cities within our new metaverse.” Metaverse Holdings is contributing Dhs200 million to the project using the new platform in the meantime.
Afdal Baig, a strategy partner at Metaverse Holdings, thinks that this platform will link the mission of the government with the chance to use the key focus areas of real estate, education, tourist attractions, retail, government services, healthcare, and professional services as the UAE government is also going all out to advance the adoption of blockchain technology, digital assets, and the metaverse across the region.
Since it is at the bleeding edge of technology and embraces the genuine possibilities of Web 3.0 as a benefit for not just economic advancement but also that of society as a whole, “we believe that this new platform will enable the estimated $4 billion market in the emirates expand. By establishing this world first and showcasing Dubai and Abu Dhabi at its best, we can help spark a movement that will completely transform how we live today, said Afdal.
