- UAE appears to be a front-runner in the metaverse race.
- Recently, Damac entered the metaverse space with a $100 million investment.
- A Dubai brokerage also plans to sell metaverse mansions.
Metaverse is the hottest topic today, ever present in every conversation about technology and the future–and rightfully so. For decades, tech enthusiasts have been speculating about a day where people could enter and occupy the virtual world; it is here today and everyone wants a piece of it. In this rush to get the biggest slice of the metaverse pie, the United Arab Emirates seems to be a frontrunner.
Here are some of the recent metaverse developments in Dubai:
- Damac enters the metaverse with $100 million investment: UAE-based business conglomerate, Damac Group has entered the metaverse to build its own digital cities. “Over the past two years we have been aggressively driving our digitisation efforts, and this new initiative into the metaverse will only further leverage our digital footprint,” remarked CEO Ali Sajwani.
- Dubai property brokerage plans to sell metaverse mansions: Union Square House, the Dubai-based real estate brokerage, is primed to launch the first Metaverse mansions in the nation. Founder Gaurav Aidasani said, “Our foray into the metaverse stems from our strong belief in a prevalent virtual world that is set to transform many sectors, on top of which is real estate.”
- Metaverse solution provider Bedu starts operations in Dubai: Bedu, the Web3 technologies and solutions provider, has launched operations in the UAE. Bedu will bring expertise and investment from around the world to the UAE to accelerate Web3, blockchain, NFT and metaverse activities in the region.
- A ‘Meta Ramadan Majlis’ in metaverse: Just last week, a Meta Ramadan Majlis (traditional gathering) gathered in the metaverse. The Meta Majlis was co-created by Chikara Global, a women’s group and Biennale.io, a community-curated digital ecosystem.
- A futuristic city in the Metaverse: Dubai Municipality announced earlier last month that it would work with private sector companies and investors to create a futuristic, human-centered version of the city that capitalizes on opportunities thrown up by the Metaverse.
Therefore, in the race to the metaverse finish line, UAE seems to be leading. But the rest of the world isn’t far behind; new developments in the metaverse sphere seem to be sprouting up by the hour.