Dubai virtual city soon to rise in the metaverse

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Dubai virtual city soon to rise in the metaverse

The Dubai virtual city is soon to rise in the metaverse to present enormous prospects for the industry and provide an alternative reality for citizens to meet people and share ideas.

The presence of Dubai in the emerging metaverse, an augmented reality where avatars of ourselves can interact online, will be represented by One Human Reality.

The metaverse is a virtual world where users can interact with each other as avatars. Users can also buy real estate, assets and make purchases using cryptocurrencies. It can also include augmented reality that combines aspects of the digital and physical worlds.

The Dubai Municipality announced the plans during the World Government Summit, including computer-generated environments that will incorporate elements of social media, augmented reality, virtual reality, video games, cryptocurrencies, and other technologies.

“The metaverse today has become closer to reality than we could have imagined,” said Dawood Al Hajri, Dubai Municipality director-general.

Noor Sweid, founder and general partner of UAE venture capital firm Global Ventures, said that the metaverse might include the education and health care sectors if its hardware becomes more accessible.

“The bigger impact of the metaverse is its ability to make the world a better place,” she said during a panel discussion at the inaugural Investopia summit in Dubai on Monday.

According to Emergen Research, the worldwide metaverse sector amounted to $47.69 billion in 2020. Businesses believe that the metaverse will become a marketplace, with financial analysts forecasting that it will generate $800 billion in revenue by 2024. BKM/ Expat Media


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