Dubai International Financial Center Announces Metaverse Platform

Dubai International Financial Center Announces Metaverse Platform

The Dubai International Financial Centre (DIFC) launched the DIFC Metaverse Platform in line with the Dubai Higher Committee for Future Technology and Digital Economy's aim to attract technology innovators worldwide.

The DIFC Metaverse Platform is aligned with the Dubai Metaverse Strategy, which aims to add $4 billion to Dubai's gross domestic product (GDP) by 2030.

The Platform also aimed to support 40,000 virtual jobs by 2030 and attract 1,000 companies specialized in blockchain and metaverse technologies.

It supports the objective of the recently launched Dubai Economic Agenda D33 to generate economic value worth AED100 billion from digital transformation annually.

The DIFC Metaverse Platform includes three key initiatives.

The first is an accelerator program with a dedicated physical studio for metaverse technology that will promote the development of a creator community and venture building.

The Platform will also address the metaverse policy development and legislation on open data, digital identity, and company law frameworks in the metaverse.

The initiative will foster the development of a metaverse community to explore ways to enhance customer experience.

The Metaverse Accelerator Program, the first initiative to be launched under the umbrella of the Platform, will start accepting applications this month.

In the coming years, the program seeks to attract more than 500 applications, identify