To become one of the world’s top 10 metaverse economies in their most populous city, Leaders of Dubai unveils their Metaverse Strategy to attract blockchain firms.
According to an announcement published on UAE official news agency WAM, The Dubai Metaverse Strategy is launched on Monday, aiming to support more than 40,000 virtual jobs by 2030, and to attract 1,000 or more blockchains firms and metaverse companies to the city.
The announcement said this would support UAE government’s vision of increasing the blockchain firms by five times the current amount, and would further prosper Dubai’s economy.
The strategy is unveiled by the crown prince of Dubai and chairman of the Dubai Executive Council, His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, and is designed in line with the ordinance of the ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum.
The announcement also stated that the metaverse’s core technologies, virtual reality (VR) and augmented reality (AR), is responsible for creating 6,700 jobs in the UAE — making a contribution of around $500 million to the country’s economy. Both technologies could add $4 billion to the UAE economy by 2030, according to a 2020 PricewaterhouseCoopers (PwC) report.
UAE is not the first to make jurisdiction in metaverse. Shanghai also laid out its own metaverse economic strategy, which is expected to be worth 350 billion yuan ($52 billion) by the end of 2025.
