a ministry in the metaverse

a ministry in the metaverse

The United Arab Emirates has a history of bold projects, including the 830-metre (2,723ft) Burj Khalifa

The UAE has a history of bold projects, including the 830-meter (2,723-foot) Burj Khalifa.

The United Arab Emirates, which already owns the tallest skyscraper in the world and has launched a daring mission to Mars, now hopes to become a pioneer in the depths of the metaverse.

In a project launched at Dubai’s stellar Museum of the Future, he announced that the UAE’s Ministry of Economy is moving into the immersive virtual world now taking shape.

Those who wear their virtual reality goggles or use other means to venture inside will find a ministry open to business with companies and even willing to sign bilateral agreements with foreign governments, officials said.

The metaverse is an online world where users will eventually be able to play, work and study, its proponents say, although it is still in a “testing” phase, conceded the UAE’s economy minister.

Abdulla bin Touq Al Marri was speaking at the first assembly of the Dubai Metaverse, held at the museum whose innovative ring shape decorated with Arabic calligraphy flanks the city’s main thoroughfare.

Representatives from tech giants mingled with entrepreneurs and developers exploring the potential of the Metaverse, a network of digital spaces designed as an extension of the physical world.

“Over the past two years, we’ve seen investment, we’ve seen businesses move in, and with the changes in the (visa) regime…we’re seeing talent coming in,” Al Marri told AFP. AFP in an interview.

A man is scanned to create his avatar during the World Metaverse Conference in Beijing on August 26, 2022

A man is scanned to create his avatar during the World Metaverse Conference in Beijing on August 26, 2022.

“We trained our employees to really immerse themselves in the metaverse, to use the metaverse, and to engage with the Gen Z that is to come,” he added.

The United Arab Emirates, which has a history of bold projects including the 830-metre (2,723ft) Burj Khalifa, hopes the metaverse can add $4 billion to annual GDP and 40,000 jobs to its workforce. by 2030.

In its bid to become one of the world’s top 10 metaverse economies, Dubai aims to attract 1,000 companies specializing in blockchain and related technologies, aided by relaxed visa rules for freelancers, entrepreneurs and creatives.

As the coronavirus pandemic has pushed more people into the online world, “Covid has really accelerated” the trend, Al Marri added.

“We thought the metaverse is a phased technology ‘that could take 10 to 20 years to emerge,’ he said. “Covid-19 really immersed us so quickly and accelerated the use of the metaverse.”

The Metaverse is an online world where users will eventually be able to play, work and study

The Metaverse is an online world where users will eventually be able to play, work, and study.

Virtual trips to Mars

Unlike Abu Dhabi, the oil-rich capital of the United Arab Emirates, crude represents only 5% of Dubai’s economy, which has turned to business, tourism, real estate and new technologies.

The UAE has already introduced a law governing virtual assets and a cryptocurrency regulator, while hosting major crypto exchanges.

One of the first private sector metaverse projects in the United Arab Emirates is called 2117, named after Dubai ruler Sheikh Mohammed bin Rashid’s dream to colonize Mars a century from now.

Metaverse users can now purchase tickets to join a virtual shuttle ferrying colonists to the Red Planet.

“Many of us won’t live long enough to see this mission with our own eyes,” said Amin Al Zarouni, founder of the Bedu startup behind the virtual journey to Mars.

“We will try to replicate this experience in the metaverse.”

The UAE Ministry of Economy has launched a metaverse project with the Museum of the Future

The UAE Ministry of Economy has launched a metaverse project with the Museum of the Future.

So far, the use of the Metaverse is niche and even its architects say widespread adoption is years away. How this will develop is unknown.

According to Meta, which owns Facebook and other social media titans, Analysis Group research has shown that the metaverse could add $360 billion to GDP in the Middle East, North Africa and Turkey in 10 years. if it follows the mobile technology growth model.

“We also know that when policy supports innovation, it accelerates the adoption of new technologies,” the company said when asked about Dubai’s prospects of becoming a metaverse hub.

“If we look at the Dubai context, there is already a clear strategy and goals to accelerate Metaverse adoption and investment in Metaverse building blocks.”


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© 2022 AFP

Quote: UAE’s latest tech bet: A ministry in the metaverse (2022, Oct 3) Retrieved Oct 3, 2022 from https://techxplore.com/news/2022-10-uae-latest-tech-ministry-metaverse .html

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