Dubai's metaverse strategy- EXPLAINED. Will it foster the digital economy?
The new phase of Dubai's Metaverse Strategy has been approved by the Crown Prince of Dubai and Chairman of Dubai's Higher Committee of Future Technology Development and Digital Economy, Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum. The Strategy is expected to enhance the digital economy, along with taking measures to make it effortless to use new technologies and the metaverse in the future.
The Strategy was launched a few months ago in July 2022.
It seems as if Sheikh Hamdan is convinced by the vision of the Committee. “Through this Committee, we seek to develop a new model for the development of technology and futuristic sciences with a special focus on digital technologies and the metaverse as part of our broader strategy to promote digital growth and innovation and achieve the goals of the Dubai Metaverse Strategy,” he stated.
The Metaverse- EXPLAINED!
Have you ever wondered where the word "metaverse" came into use? Neal Stephenson, a notable science fiction author first made use of the term in the year 1992.
Metaverse is the upcoming version of the Internet that lays its focus on social connections. The futuristic digital world will allow folks to make use of their digital avatars and step into a virtual version of reality.
It is nothing but a digital stimulation of the actual world. It makes space for enhanced user interaction by means of social media concepts, Virtual Reality (VR), Augmentative Reality (AR), and blockchain.
Aim of the Dubai Metaverse Strategy!
The Dubai Metaverse Strategy aims to build the Emirate as a global hub dedicated to the metaverse community and one of the best ten metaverse economies in the whole world.
It lays its focus on fostering Dubai's success in attracting around 1,000 blockchain and metaverse businesses.