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UAE Ministry of Economy Announces Metaverse as its New Address

30/11/2022
05/12/2022
07/12/2022
08/12/2022

MetaVentures Bangkok 2022

Bangkok, Thailand
14/12/2022
27/02/2023

ICBM Expo

Dubai, UAE
03/03/2023
The Crypto Times

The emergence of Web3 and the metaverse has begun to have an effect within the UAE. The UAE Ministry of Economy, Abdulla bin Touq Al Marri, launched the Ministry’s headquarters within the metaverse on the Dubai Metaverse Assembly.

Dubai within the metaverse! The UAE has the potential to grow to be a hub for each expertise and innovation within the web3 house.

The Crypto Times has been following the UAE’s journey from the formation of a high-level committee for future know-how chaired by the Dubai Crown Prince to the current announcement of digital asset advertising and marketing and promotion tips.

The UAE Ministry of Economy has now introduced the opening of its new tackle, which could be ‘visited’ from wherever on the earth as a result of it’s situated contained in the metaverse.

The digital workplace, or “new headquarters”, in response to Al Marri, is the “digital twin” of the ministry’s workplaces in Dubai and Abu Dhabi, the place avatars can maintain conferences, community, and even signal legally binding agreements.

The Dubai Metaverse Assembly is the primary occasion of its variety organized by the Dubai Future Foundation (DFF) because the Dubai Metaverse Strategy was launched in July by Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai.

According to Al Marri, the metaverse is an financial equalizer, remodeling key industries starting from logistics to actual property. He explains that the UAE’s forward-thinking imaginative and prescient sees the metaverse as having the potential to rework and redefine a various financial system.

“The global metaverse market is expected to reach $1.6 trillion by 2030, with total annual growth of 43.3 percent. We are moving fast to secure a share of this prize. With advanced physical and digital infrastructure, highly skilled talent, and pro-business laws, the UAE has the competitive advantages to become one of the world’s top 10 metaverse economies – and a global hub for investments in this field,” he stated.

Compiled by Coinbold

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