The Dubai Metaverse Strategy was introduced on July 18 by Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, the Crown Prince of Dubai and head of the Dubai Executive Council.
The strategy aims to contribute Dhs4bn to the national economy over five years, along with supporting 40,000 virtual jobs.
“We launched the Dubai Metaverse Strategy today, which aims to foster innovation in new technology. Dubai is home to over 1,000 companies operating in the metaverse and blockchain sectors, which contribute $500m to our national economy,” Sheikh Hamdan said.
“With the early adoption of metaverse technology, Dubai seeks to become one of the top 10 metaverse economies and a global frontrunner in adopting digital solutions,” he tweeted.
He added, “In line with Dubai Metaverse Strategy, the Museum of the Future will host Dubai Metaverse Assembly in September 2022. The assembly is a global platform for innovators forging the future of the metaverse. Participants will experience extraordinarily advanced technology. We harness this promising digital world to be the fastest city to adopt its applications and embrace its potential.”
Earlier this year, the Dubai government formed a dedicated task force to track the latest developments in the digital economy as it looks to leverage opportunities within the metaverse.
The directives to set up the task force were issued by Sheikh Hamdan and Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, Deputy Prime Minister, and Minister of Finance. Sheikh Hamdan had said the committee had started work on key pillars and the objectives of the Dubai Metaverse Strategy at the time.
