Mon. Sep 26th, 2022


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. 

See related article: Dubai could be crypto’s promised land, Citi says

Fast facts

  • 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. 

See related article: Binance wins crypto license in Dubai days after FTX





Source link