Dubai has launched a metaverse strategy on Monday, where it aims to raise the sector’s contribution to the local economy to $4 billion.
The emirate’s Crown Prince Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum announced the new initiative on Twitter, explaining how it aims to double the number of metaverse-related companies in the emirate in the next five years.
“Today, we launched the Dubai Metaverse Strategy, the next revolution in the technological and economic field. We have 1,000 companies in Dubai currently working in this sector, which contributes $500 million to our national economy. We expect it to rise strongly during the coming period,” he said.
Around 40,000 jobs will be introduced as part of the strategy, the crown prince said.
The Dubai Metaverse Strategy is based on five pillars, which includes government adoption of metaverse technologies, talent development, and a focus on innovation.
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