The UAE presented the strategy of the Dubai metaverse

Despite the recent collapse of the crypto market and the vague prospects of the industry, the local government plans to organize 40,000 virtual workplaces.

On July 18, the Crown Prince of Dubai, Hamdan bin Mohammed Al Maktoum presented the Dubai metaverse strategy to the public on his official Twitter page. Its primary goals are to make Dubai the hub of the metaverse economy and increase the number of workplaces in the metaverse and blockchain sectors.

Today, there are more than a thousand companies related to the crypto industry in the city. Their activities provide the UAE economy with an additional $500 million. According to the developed strategy, the number of companies in the blockchain and metaverse sectors over the next five years should increase fivefold.

Preliminary calculations suggest that increasing the number of companies to five thousand will create 40,000 new workplaces and attract up to four billion dollars to the Dubai economy.

As ways to achieve these goals, the strategy points out:

• promoting innovation in the metaverse and contributing to the economy;
• cultivating talents for the metaverse;
• developing various uses of the metaverse and apps in government organizations;
• scaling and global protection of secure platforms;
• improving infrastructure and regulation.

Earlier, the Dubai Virtual Asset Regulatory Authority announced the creation of its own headquarters in the metaverse.