Dubai Chamber of Digital Economy Sparks Expansion of Metaverse

  • The Vice Chairman of the Dubai Chamber of Digital Economy officially introduced the 9th episode of the digital industry workshop on Health Tech. 
  • The Vice Chairman stated that the adoption of the metaverse is rapidly increasing.

The Dubai Chamber of Digital Economy gathered great minds, executives, people in business, entrepreneurs and experts of the metaverse and crypto industry in the re-creation of the chamber’s digital industry workshop series. The chamber’s workshop discusses opportunities, ideas, and challenges and emphasizes growth in the metaverse and crypto industry.

According to the local news media, the Vice Chairman of the Dubai Chamber of Digital Economy, Ahmad bin Byat attended the workshop with the board members of the Digital industry, Hind Seddiqi, Fadi Ghandour and Dany Farha. 

Bin Byat said, “Dubai has a healthy and vibrant digital ecosystem welcoming digital companies across various economic sectors, and the adoption of the metaverse is rapidly growing.”

“The workshop on the metaverse and crypto industry is part of a series of digital industry workshops we continue to host. It is a great platform for connecting like-minded leaders to discover the latest developments and providing a space for meaningful discussions.”

Dubai has also Launched a Dubai Metaverse Strategy with the desire to position Dubai in the world’s top 10 Metaverse economic hubs. The strategic objective is to attract almost 1,000 plus metaverse organizations to Dubai to develop the Web3 spectrum to Dubai. 

Dubai has also established its virtual asset regime and introduced Dubai’s Virtual Asset Regulatory Authority (VARA) to offer a secure and advanced coworking framework for the virtual asset sector. As per the report, major crypto-based leading organizations head toward Dubai because of their approach toward regulation. 

A quick intro to the Dubai Chamber of Digital Economy 

Dubai Chamber of Digital Economy is highly recognized as one of the third Dubai chambers. Its main objective is to set Dubai as the Global leader in the digital economy. Moreover, it also aims to attract sharp brains, leading organizations, and new investments to build an ecosystem that helps expand digital companies. 

At the beginning of 2022, the board of directors of the Chamber passed the strategy for 2022-2024 to achieve the dreams and vision of his Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, and Ruler of Dubai to become as the hub of the digital economy.

The strategic objective is to attract 300 digital startups within 2 years, creating a business environment and ecosystem to attract global digital firms and many more. Additionally, all the activities of Dubai’s chambers are operated by its newly formed 4 committees named as follows; 

  • Digital Economy Finance Action Committee
  • Digital Talent Action Committee
  • Network and Ecosystem Action Committee
  • Government Coordination, Regulation, and Infrastructure Action Committee.