Sheikh Hamdan announces launch of Dubai Metaverse Strategy

The Crown Prince of Dubai, Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum announced on Monday, July 18, the launch of a new Dubai Metaverse Strategy.

The Crown Prince of Dubai, Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum announced on Monday, July 18, the launch of a new Dubai Metaverse Strategy.

Sheikh Hamdan bin Mohammed, the Chairman of the Dubai Executive Council, announced this on his official Twitter account and shared the pillars as well as targets of this strategy.

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Sheikh Hamdan highlighted that there are presently 1,000 companies in the Metaverse sector alone in Dubai and called the metaverse as the next revolution, which will impact all aspects of life in the next two decades. They also contribute $500 million to our national economy, and he expects it to rise strongly in the coming period.

The strategy strives to exponentially raise the number of blockchain and metaverse firms five times in five years while introducing 40,000 virtual jobs, which will contribute $4 billion towards the economy of Dubai.

Sheikh Hamdan stated that we launched the Dubai Metaverse Strategy, which will be the next revolution in the technological and economic field that will impact all aspects of life during the next two decades. We have 1,000 companies in Dubai presently working in this sector, contributing $500 million to our nationwide economy. We wish it to rise strongly during the forthcoming period.

He further added our objective by establishing an integrated plan for metaverse at this early time for this technology to be among the leading ten cities that will shape this sector worldwide. Dubai was and will remain a precedent for others in the world because Mohammed bin Rashid has proven to the world many times the correctness of his future and development vision that made Dubai.

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