The Metaverse yields exponential potential for UAE

  • Date: 07-Jun-2022
  • Source: Zawya
  • Sector:Economy
  • Country:UAE
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The Metaverse yields exponential potential for UAE

In March, the Dubai Municipality announced its plans to create a virtual city in the metaverse that leverages computer-generated environments to combine elements of social media, AR, VR, cryptocurrencies, and other technologies with the goal of providing residents with an alternative reality to meet people and exchange ideas. Following this announcement, Emirates, Dubai’s globally renowned airline, stated that it would transform its Pavilion at the Expo 2020 site into its ‘new center for innovation’ to launch NFTs and experiences in the metaverse for its customers.

Metaverse entertainment platform, The World’s Online Festival (WOLF), is focused on MENA with a majority of its user base in the GCC. It has generated a lively and interactive community of more than 2 million users since launch consisting of producers, show hosts, radio presenters, singers, poets, comedians, musicians, DJs, fans, and chat communities. The company already begun integrating metaverse technologies by taking 2D audio festival events and rendering them as 3D immersive video experiences. In 2021, WOLF announced its arrival to the metaverse, with the launch of its patent-pending feature, Showreel.

Gary Knight, CEO of WOLF, commented, “The UAE has continually proved its resilience to economic worldwide fluctuations through innovation and technological advancement. While COVID-19 resulted