The Crown Prince of Dubai, Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, who is the Chairman of The Executive Council of Dubai, and Chairman of Dubai’s Higher Committee of Future Technology Development and Digital Economy, approved the new phase of the Dubai Metaverse Strategy, an innovation in Dubai to turn Dubai into one of the top metaverse economies of the world by enhancing the digital economy and implementing new measures.
Notably, Sheikh Hamdan approved the new phase of the strategy during the first meeting of the Higher Committee of Future Technology Development and Digital Economy on Thursday.
The Crown Prince tweeted that HH Sheikh Muhammed’s vision “has established Dubai as a global capital for the digital economy.”
I chaired the first meeting of the Higher Committee of Future Technology Development and Digital Economy. @HHShkMohd’s vision has established Dubai as a global capital for the digital economy. As we prepare for the metaverse world, a new digital future is being shaped by the UAE pic.twitter.com/PjOI2cuaEk
— Hamdan bin Mohammed (@HamdanMohammed) November 24, 2022
Significantly, the metaverse is a part of Web3 where three-dimensional representations can interact in the virtual world. In response to the new discovery in the world of the internet, Dubai and other emirates have taken efforts to incorporate metaverse into the UAE economy.
Positively, Sheikh Hamdan approved the major four strategies regarding metaverse technology. In addition, the city has also initiated methods to identify and study the social benefits of the metaverse.
According to him, the strategy intends to promote digital growth and innovation in Dubai:
Through this Committee, we seek to develop a new model for the development of technology and futuristic sciences with a special focus on digital technologies and the metaverse as part of our broader strategy to promote digital growth and innovation and achieve the goals of the Dubai Metaverse Strategy.
Further, the new phase attempts to establish the skills of Emiratis, creating a large metaverse community in Dubai including metaverse companies, investors, and users.