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Tuesday, March 28, 2023

Dubai Is Preparing to Take Its Government to the Metaverse

Dubai Is Preparing to Take Its Government to the Metaverse – In order to allow users to conduct actions in these facilities in the future, Dubai, an emirate that is a part of the United Arab Emirates (UAE), is apparently moving some of its governmental departments into the metaverse. 

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This would be the country’s next move after it previously unveiled its Dubai Metaverse Strategy to establish this technology as a crucial component of the emirate’s future.

At a regional metaverse-themed event, Sharad Agarwal, the chief metaverse officer of Dubai-based Cybergear, discussed this procedure. 

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He declared:

“Government departments and ministries have started contacting us frequently about becoming Metaverse-enabled. Dubai will soon take the lead as the global hub for cryptocurrency and the Metaverse.”

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But it will take time for these spaces to be built and for their purposes to be established. The next thing Agarwal said was, “there is hard work involved. You need to decide what services you want to give and business strategy before the onboarding community just like it does in the physical world.”

One country that has implemented a global strategy to turn the metaverse into a lucrative sector in the future is Dubai. By 2030, 42,000 virtual employment should be available, according to the Dubai Metaverse Strategy, a set of guidelines that intends to have the metaverse contribute 1% of the nation’s GDP.

Other countries, such as South Korea, are also making significant investments in the growth of their own metaverse industries, dedicating $177 million to this effort.

While some people are unable to comprehend the appeal of the metaverse for Dubai, Agarwal elaborated on one of the potential future uses for metaverse technology: the real estate industry. 

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He asserted:

“Dubai’s real estate market is enormous. In the future, individuals will be able to fly like Superman to a community, view the villas, and modify the interior design to their preferences. When they are satisfied, they can make a digital payment.”

One of the pioneers in this field, the country’s virtual asset regulator just began operating in the metaverse.

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