Burj Al Arab

Dubai Looks To Avail 40,000 Jobs With Metaverse Project

  • The Dubai government also instituted a powerful committee to assess the trends obtainable in the booming virtual sphere.

As an effort geared towards achieving over 40,000 jobs in the near future,  the authorities in Dubai have unveiled a metaverse master plan. This development was confirmed by the Chairman of Dubai’s executive council, Sheikh Hamdan Bin Al Maktoum, on Monday. Reportedly, the authorities aspire to accelerate the region’s journey towards becoming a robust metaverse economy globally.

The chairman said the move emanated to avail experiences in innovative technologies within the region. According to him, Dubai currently houses thousands of blockchain and metaverse-oriented firms. These firms, as revealed, usually rake in about $500 million into the country’s coffers.

Maktoum aspires to revamp the prevailing condition of the country’s virtual economy. He intends to achieve this through investment in emerging global technologies. Now, the authorities have resolved to focus on artificial intelligence (AI) and web3.0 fully.

Dubai And the Metaverse Strategy

Recently, the authorities unveiled its agenda, codenamed Dubai Metaverse Strategy. This agenda, as observed, is crafted in alignment with the AI aspirations of the UAE. 

Guided by this master plan, the government intends to accelerate innovative efforts capable of aiding its investments in those technologies. This, as believed, will help them succeed in the quest to become a nation with a prosperous future in the digital economy. 

Similarly, the Dubai government also instituted a powerful committee to assess the trends obtainable in the booming virtual sphere. As reported, the committee was initiated by Sheikh Hamdan and Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum. The committee had, since its inauguration, commenced its assignment, using the Dubai Metaverse Strategy as a guide.

As observed, the strategy recommends research and developing partnerships with actors within the booming metaverse sphere. This, as stated, tends to unlock the economic potential of the trend within the country.  Additionally, it advocates the exploration of accelerators and incubators to entice more firms into Dubai’s virtual space.

Furthermore, the strategy suggests initiating metaverse enlightenment programs for developers and other subscribers of the digital sphere within the metaverse space. Also, it recommends the embracement of 5G networks. This, as stated, will foster edge computing and thus boost data collection, processing, and storage via smart gadgets.

Recall that the regulatory agency in the emirate, known as VARA, has continued to issue operational permits to scores of cryptocurrency platforms venturing into the region.

Rebecca Davidson Verified

Rebecca is a Senior Staff Writer at BitcoinWisdom, working hard to bring you the latest breaking news in the cryptocurrency market. In the words of Elon Musk “Buy stock in several companies that make products & services that *you* believe in. Only sell if you think their products & services are trending worse. Don’t panic when the market does. This will serve you well in the long-term.”

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