Dubai government is preparing to open a Metaverse function. Sharad Agarwal, chief Metaverse officer of Cybergear, said that Dubai is seeking some departments to transition to the Metaverse through third-party agencies.
Dubai has previously proposed a Metaverse strategy and positioned Metaverse technology as an important part of the UAE’s future, Sharad Agarwal, chief Metaverse officer of Dubai-based Metaverse company Cybergear, spoke about the event at a local Metaverse-themed event , and said:
“We have received a lot of inquiries from government departments and functional agencies on how to enable Metaverse data, and there is no doubt that it is only a matter of time before Dubai becomes a global cryptocurrency and Metaverse center.”
“However, building the foundation of the Metaverse does take time to set up the facility and set up the Metaverse function. It’s a tough job, like the real world, and it involves a range of architectures from business models to community service,” Agarwal further explained.
Dubai is one of the countries currently formulating a Metaverse Strategic Plan, which aims to make the Metaverse industry a high-value industry, and specifically points out that the Dubai Metaverse Strategy is a national executive order committed to making the Metaverse economy account for the size of the Metaverse by 2030, 1% of the country’s GDP, and provide 42,000 Metaverse jobs; in addition to Dubai, South Korea and other countries are also investing heavily in Metaverse, and the Korean government has allocated 177 million US dollars for this.
In addition, Agarwal described the direction in which the Metaverse technology can be applied in the future: the real estate market, he declared: “Dubai has a huge real estate market, in the future, people will be able to switch between districts like a ‘superman’ and according to their own preferences configure the interior decoration, and once you are satisfied, you can make digital payments at any time.”
It is worth mentioning that the Dubai Virtual Assets Regulator has recently established a related business in Metaverse, which is one of the pioneers in this field.
