Metaverse will shape new digital future for humanity: Sheikh Hamdan

Dubai is set to consolidate its status as a testbed for future metaverse technologies, the Crown Prince of Dubai said on Wednesday.

Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, the Chairman of The Executive Council of Dubai and the Chairman of the Board of Trustees of the Dubai Future Foundation, also stated the metaverse would shape a new digital future for humanity. He spoke on the first day of the inaugural Dubai Metaverse Assembly, organised by the Dubai Future Foundation (DFF).

“We seek to provide a global platform for generating metaverse solutions for global challenges,” said the Crown Prince.

More than 20,000 attended the first day of the event using virtual platforms and metaverse technologies, the Media Office announced.

Over 500 global experts and policymakers, and more than 40 leading local and international organisations specialised in the metaverse and digital technologies, are participating in the two-day event. He said, “Dubai is emerging as a major contributor to shaping a new global vision for advanced technology and a pioneer in adopting next-generation digital innovation.”

“We are constantly working to foster the development of technological tools and applications to raise the community’s quality of life. In the coming years, the metaverse will shape a new digital future for humanity, and Dubai will consolidate its status as a testbed for innovation in this emerging technology,” Sheikh Hamdan said.

He stressed Dubai will always welcome innovators and experts to explore and design the future of the metaverse and explore its potential.

“Through the Dubai Metaverse Assembly, we aim to provide a global platform for the metaverse community to discuss new opportunities emerging from this new technology and promote knowledge-sharing and partnerships between entrepreneurs and innovators. We also look forward to discussing how the metaverse can generate solutions for some of the world’s most critical challenges,” Sheikh Hamdan added.

During the event, Sheikh Hamdan met with top officials from around the globe and visited activations installed by the event’s partners to showcase real experiences from the metaverse.

Dubai Metaverse Strategy

Omar Sultan Al Olama, UAE Minister of State for Artificial Intelligence, Digital Economy, and Remote Work Applications, outlined the goals of the Dubai Metaverse Strategy and critical initiatives to strengthen Dubai’s position in the digital sector during the event.

“Dubai has firmly established its position as a global hub for travel, trade and investment by embracing new industries and innovations to diversify its economy,” he said.

“Over the next 50 years, we will work to turn challenges into opportunities and build a digital, knowledge-driven economy,” Al Olama added.

The Assembly is the first event resulting from implementing the Dubai Metaverse Strategy approved by Sheikh Hamdan in July. The strategy aims to add $ 4 billion to Dubai’s GDP, support 40,000 virtual jobs by 2030, attract 1,000 companies specialised in blockchain and metaverse technologies and turn Dubai into one of the world’s top 10 metaverse economies.

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