The Metaverse: Dubai Set to Be the World’s First Virtual City

UAE has always been the forerunner of technological advancements. In today’s world, Dubai is progressing faster to become the global hub of blockchain-powered innovations, metaverse and Web 3.0.

One of the biggest milestones in this journey is creating the world’s first virtual cities of Dubai and Abu Dhabi. Metaverse Holdings, a Web 3.0 technology firm is rolling out their global metaverse. The firm has chosen Dubai and Abu Dhabi to be released as the world’s first virtual cities.

Priven Reddy, CEO of Metaverse Holdings based in Dubai said, 

After carefully examining other leading regions, the decision was made for Dubai and Abu Dhabi to be the very first simulated cities within our new metaverse.

Here is everything that you need to know about the metaverse cities of Dubai and Abu Dhabi.

How Will The Virtual City Of Dubai Look Like?

Metaverse is a 3D virtual world powered by sophisticated technologies like AI, AR, VR, IoT, ML and others. These technologies together create a hyper-realistic virtual world or space that mirrors the real world. 

Businesses today are venturing into the metaverse with their own business-focused metaverse spaces. You can too make your business future ready with our industry-leading metaverse development company.

The UAE government has always welcomed advanced technological transformations with open hands. From launching Metaverse Assembly to virtual metaverse headquarters and its recent ambitious Metaverse Strategy project, UAE aspires to lead the world in the adoption of the metaverse.

Recently the Dubai government created The Higher Committee for Future Technology and Digital Economy. The committee will oversee, analyse and assist in the adoption of the metaverse. 

This particular step attracted the attention of major Web 3.0 and metaverse development companies in Dubai. As a result, Metaverse Holdings immediately announced Dubai and Abu Dhabi as the first virtual cities in their global metaverse.

Commenting on the decision to choose Dubai as the first virtual city in their global metaverse project, the CEO of Metaverse Holdings said,

We believe that Dubai is at the forefront of innovation and digital transformation, driven by the mission and vision of HH Sheikh Mohammed Bin Rashid Al Maktoum, Vice President of the UAE and Ruler of Dubai and HH Sheikh Hamdan bin Mohammed Al Maktoum, Crown Prince of Dubai.

The virtual cities will replicate real-life places and locations that will offer an enhanced realistic experience to the users. The virtual city of Dubai will include everything from shopping malls, universities, tourist spots, offices, business hubs and much more. All of these will be developed as they are in the real world of Dubai. 

The hyper realistic virtual city will give you an unforgettable experience. You will feel as if you are actually present in Dubai. 

The beta version of these virtual cities will go live in the fourth quarter of 2022. 

In contrast, to present VR applications that create miniature digital fantasy worlds, the new platform introduces a thorough real-world utility-based metaverse with full multi-device compatibility. 

Users can establish alignment between their requirements and the platform that integrates blockchain technology from NFT. You can even explore and shop from the largest retail stores, purchase advertising space in the virtual city, attend simulated lectures, events and much more.

Key Insights of the Dubai Metaverse Project

Metaverse Holdings is committing $54 million to the project for its current and future developments. The goal is to create the world’s most advanced metaverse space. The target is to attract global tech firms, businesses, startups, investors, tourists and people to one global virtual environment. 

The metaverse development company  is targeting to generate $1 trillion yearly revenue in the next 6-8 years.

Afdal Baig, Strategy Partner at Metaverse Holdings believes that the virtual cities will align the UAE government’s vision for real estate, education, tourism, healthcare and businesses in the metaverse.

The new metaverse platform will support the UAE government’s Metaverse Strategy project and help them in contributing the anticipated $4 billion to the country’s economy. 

The UAE government announced its ambitious Metaverse Strategy project which will create over 42,000 virtual jobs and add $4 billion to the economy by 2030. It was announced during the first-ever Dubai’s Metaverse Assembly that started on 28th September 2022.

The highly immersive and persistent metaverse cities of Dubai and Abu Dhabi will be a new revolution in the world. Moreover, it will encourage people to embrace Web 3.0 immense possibilities in the business and social sectors. 

Conclusion

Are you looking to unlock the business potential of the metaverse?

Partner with the best metaverse development company to build hyper realistic, immersive and engaging 3D virtual space for gaming, marketplaces, fashion, real estate, social media and much more.

Talk to our experts today!

September 30, 2022

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