Dubai aims to be one of the top 10 cities globally in the metaverse economy, creating 40,000 virtual jobs and adding US$4 billion to the city’s economy in five years.
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- The launch of the Dubai Metaverse Strategy on Monday was aimed at fostering innovation in new technology, Crown Prince Sheikh Hamdan bin Mohammed said on his verified Twitter handle.
- The Emirati state is home to over 1,000 companies operating in the metaverse and blockchain sector, contributing US$500 million to the national economy, he said.
- The strategy entails increasing the number of blockchain and metaverse companies five-fold in five years, Bin Mohammed said.
- Dubai also aims to develop metaverse use-cases and applications for its government, cultivating talent for the industry through education and training.
- Dubai has been attracting cryptocurrency exchanges with its favorable regulatory environment and faster approvals for licenses.
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