The booming economy of Dubai pilots a 100-day plan to UAE for metaverse conversion. Crown Prince Sheikh Hamdam, Dubai’s ambitious young ruler, states that they are on an active quest to make the country the capital for the developing digital economy worldwide.
The Higher Committee of Future Technology Development and Digital Economy, a department created and headed by Hamdam is geared at shaping the artificial intelligence future through investing in the metaverse toward one goal — the furtherance of quality of life. Since its inception, the country has become the niche for testing business models in global technologies.
The track began in July 2022. The goal is to create over 40,000 virtual jobs, which is perceived to add $2 billion to the Emirates’ economy by 2030. The network is made through strategic recruitment of government organizations, massive education on the Web3 concept, and familiarization with the digital economy environment.
What’s in the 100-day plan?
- Collaborate with businesses and brands toward building a metaverse for the United Arab Emirates to achieve virtual job goals.
- Attract over 1,000 companies to collaborate with the Web3 industry including micro-economies, private businesses, and event companies.
- Build a community of startups, investors, and creators with whom they can work with the creation of innovative solutions for Web3 novels, real-time, and real-life concerns.
- Invest in blockchain technology to further the revolutionary change in the country’s digital technology.
- Establish a digital twin-city, a fusion of the human and virtual worlds. The infrastructure shows off a computer-generated environment created by the Dubai Municipality.
Exgoland is one of the first among the 1,000 companies associated with Dubai’s metaverse plan. The company owns a spacious virtual lot to allow entrepreneurs to operate and build businesses online. It has an established platform for businesses to avail themselves of the digital environment. Countless privileges are made available to the users as meeting verified celebrities and influential people that may enlist for their businesses, which may add value to the company. Exgoland’s feature includes buying readily available games in the marketplace that can be installed directly on their platforms for private and public consumption. Landowners can mark their lots on the map to be recognized by others. The virtual property assures a high market value and profit.
Metaverse is projected to contribute to an increase of $360 billion to Turkey, North Africa, and the Middle East, while $3 trillion is the pronounced income to the world economy, according to the Regional Director for Meta in Mena, Farres Akkad. The team of young prince Hamdam, endeared to as Faza or the helper, is focused on working out the 100-day plan. He is optimistic that the metaverse will highly benefit Dubai’s thriving economy, just like the highly industrialized metaverse countries, China, India, Saudi Arabia, Japan, USA, UK, and Canada
