Officials from Dubai, the most populous city of the United Arab Emirates (UAE), have stated their intent to turn the metropolis into a top ten haven for Web3 developments.
According to the announcement, which was made by the city’s crown prince Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum and published on the UAE officials news agency WAM, ‘The Dubai Metaverse Strategy’ has been devised to attract more than 1,000 blockchain and metaverse companies to the city, as well as support more than 40,000 virtual jobs by 2030.
Omar bin Sultan Al Olama, the UAE’s Minister of State for Artificial Intelligence and Digital Economy, stated that the metaverse will be leveraged in the region to “provide innovative solutions, positively impact people’s lives, and transform the city into one of the smartest hubs worldwide offering new economic opportunities”.
As per other information from the announcement, it appears that the UAE is already underway with its Web3 ambitions, as the country currently hosts 6,700 jobs that are centred around virtual reality and augmented reality, which is worth a combined $500 million to its economy. With 40,000 virtual jobs hoped to be created by 2030, PricewaterhouseCoopers has forecasted that such smart terminal technology industries will add $4 billion to the UAE economy by that time.