Dubai set to be hub of metaverse, blockchain ecosystems

Dubai set to be hub of metaverse, blockchain ecosystems

Gulf Today, The metaverse and blockchain ecosystems are set to transform Dubai as a hub of innovation and giving impetus to its great strides to become a pioneer and build on its smart city status. Aimed at seeking to adopt creative solutions, improve peoples live and introduce positive socio-economic changes, Dubai’s metaverse strategy will boost regional and global economies besides bringing in innovation to attract new firms and projects to the hub of modern technology city. Courtesy its meticulously drafted regulatory framework, Dubai has already positioned itself as the Global Capital of Web 3.0 with its new metaverse and blockchain technology. The metaverse has indefinite potential to conduct activities in the digital space and is thus the future of technology while the blended experience of augmented reality (AR), virtual reality (VR), spatial computing and sensorial tech has enormous potential to bring the world to our fingertips. “From retail shopping to healthcare and manufacturing, the metaverse is becoming pervasive in countless industries. It is transforming industries by expediting virtual operations seamlessly and offering business opportunities for investors,” Pratik Rawal, Managing Partner, Ascent Partners. The global market size of metaverse will reach $1.6 trillion by 2030. Moreover, international companies like Meta (Facebook),