DIFC Metaverse Platform; Dubai’s New Strategy to Become NO.1 In The Region

  • DIFC Metaverse Platform is a part of Dubai Metaverse Strategy. 
  • Dubai’s crown prince intends to see Dubai in the no.1 position in the advanced metaverse economy. 
  • Dubai Metaverse Strategy will contribute $4 billion to the country’s GDP until 2030.

Dubai International Financial Centre (DIFC) publicized the ‘DIFC Metaverse Platform’ launch on January 30, 2023. According to local news media, the metaverse platform initiative seeks to fascinate tech innovators across the globe and will advance Dubai’s position as a metaverse leader globally.

The DIFC metaverse platform comes under the Dubai Metaverse Strategy, a well-planned economic strategy whose main aim is to make Dubai a number one city in the region and stand out in the top ten most advanced metaverse economies in the World according to Dubai Crown Prince Sheikh Hamdan.

According to the crown prince, the Dubai Metaverse Strategy includes the addition of $4 billion to the emirates GDP in the coming 5 years. The strategy intends to support 40,000 virtual jobs and attract almost 1,000 blockchain and metaverse organizations. 

However, the DIFC metaverse platform also associates with Dubai’s Economic Agenda D33, whose main motive is to generate $27 billion per annum through digital transformation.

Omar bin Sultan Al Olama, minister of state for artificial intelligence, digital economy, and remote work applications, announced that the United Arab Emirates started including advanced technologies in order to stay updated with global changes.

Arif Amiri, DIFC Authority CEO, stated, “The Dubai government has shown great foresight in introducing a metaverse strategy that has the objective of making the emirate a global hub for technology and innovation. The development of the integrated DIFC Metaverse Platform will accelerate the achievements of Dubai’s aspirations in this sector.”

The metaverse platform contains three major factors. The platform incorporates an accelerator program with a physical studio for metaverse technology which is supposed to advance the development of creator community and venture creation.  

The platform intends to handle policies and regulations on digital data, open identities and company laws in the metaverse. Although, the platform will develop a metaverse community that will discover ways to boost the customer’s metaverse experience. 

The accelerator program proceeds by receiving applications this month. In the upcoming years, the program intends to receive at least 500 applications and select 50 of the most promising graduates through this accelerator program to encourage investment opportunities for metaverse growth.