UAE committed to build Web3.0 community

UAE committed to build Web3.0 community

The global metaverse market size was valued at $63.83 billion in 2021. The market is projected to grow from $100.27 billion in 2022 to $1.52 trillion by 2029, acording to Fortune Business Insights.

Published: Sat 28 May 2022, 11:35 PM Last updated: Sat 28 May 2022, 11:38 PM

The UAE is known to be at forefront of innovation and offers everyone a strong platform to explore opportunities in the fast-evolving Web3.0 community.

What is Web3.0? It is the latest Internet technology that leverages machine learning, artificial intelligence, and blockchain to achieve real-world human communication, according to analyticsinsight.net.

The global metaverse market size was valued at $63.83 billion in 2021. The market is projected to grow from $100.27 billion in 2022 to $1.52 trillion by 2029, at a CAGR of 47.6 per cent in forecast period, 2022-2029, acording to Fortune Business Insights.

The UAE has been actively pushing reforms, and policies in favour of this fast-growing community and the proof of it is the two-day event — Metacon — that is currently being hosted and will conclude today at The Arena, Dubai World Trade Centre.

Metacon powered by GALA, the first-ever metaverse into reality pop culture event in the region, officially opened its doors on Saturday. To