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 the 50 most promising graduates, and stimulate investment opportunities to help the sector grow.
Minister of State for Artificial Intelligence, Digital Economy, and Remote Work Applications Omar al-Olama stated that the United Arab Emirates adopts advanced technologies to keep pace with global changes.
Olama, also Chairman of the Dubai Chamber of Digital Economy, said the strategy reflected the directives of its leadership in transforming the country and Dubai to become a leading hub for utilizing the best technology and developing capabilities.
Olama added that this Metaverse platform is the first in a series of initiatives that aim to strengthen Dubai's position as a global platform for the latest digital trends and accelerate the pace to achieve the objectives of the Dubai Metaverse Strategy.
CEO of DIFC Arif Amiri indicated that the Dubai government had shown great foresight in introducing a metaverse strategy that aims to make the emirate a global hub for technology and innovation.
The development of the integrated DIFC Metaverse Platform would accelerate the achievements of Dubai's aspirations in this sector.
The initiative is a natural extension of the Innovation Hub proposition that has shaped the technology and innovation landscape in the Middle East, Africa, and South Asia.