It is projected that the Dubai metaverse will be one of the biggest business investments in the near future as a wide array of opportunities are expected to be created within the Dubai multiverse.
Anything from buying clothes online, to investments, and even virtual real estate possibilities are discussed as future prospects in the multiverse. It is estimated that the Dubai metaverse will be worth around $4 billion a year by 2030.
Dubai Metaverse: Everything You Need To Know About Sheikh Hamdan’s Strategy
The Dubai metaverse initiative is led by Crown Prince of Dubai Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum and his strategy is being built on three main points such as the implementation of metaverse by the government, the development of local talent, and innovation.
Here are some of the interesting businesses to be discovered within the Dubai metaverse.
- Metaverse Dubai Airport Freezone (METADAFZ) – This venture aims at developing a fully virtual freezone platform for conducting online meetings by offering an almost realistic experience. It will also help discover DAFZ’s interesting products and solutions which will in turn drive the technological position of the Emirate.
- Commercial Bank International (CBI)- The CBI also had its metaverse debut and now taking credit as the only UAE bank to have a metaverse branch. The virtual location of the bank can be accessed in the metaverse through portals.
- Burj Khalifa- The tallest building in the world is now available to be accessed virtually through the metaverse. A company called Eventcombo created the metaverse experience of the Burj Khalifa and it can be accessed without the help of any VR device. Anyone can have a 360-degree view of the building and even move around it.
- Yas Island- The Yas Island metaverse experience will allow people to create, socialize, transact and do other interesting stuff using their own Metaverse avatars. Interesting options are available like exploring tourist attractions, playing golf on top-class golf courses, buying digital homes, etc. Personalized Avatars and reward points are also other pluses in the Yas Islands.
- Fashion- The UAE fashion industry is also making a revolutionary shift to the metaverse with digital fashion startups making inroads into the virtual fashion streets. A major fashion brand called The Rebels is already looking into creating a virtual fashion store for its luxury wearable collection.
- The Dubai Road and Transport Authority- RTA is also set to foray into the metaverse and thereby strengthen its technological growth by establishing a virtual structure that will help in analyzing and maintaining the state of different assets inside RTA. This will be done using advanced machine learning and also external real-time data sourced into the metaverse which will help to predict possible malfunctions of the assets.
- Etisalat (e&) – Dubai’s leading telecom provider Etisalat (now known as e&) is launching its ambitious e& universe in the metaverse. The e& universe is being hosted in the virtual Arcadia Planitia on planet Mars. With the collaboration of SK Telecom of Korea will be taking the venture to an exceptional degree of user experience. e& is also collaborating with Huawei in the creation of a 3D retail experience through the metaverse.
- Dubai Electricity and Water Authority (DEWA)- DEWAVerse has been launched by the Dubai Electricity and Water Authority and it is the first of its kind by a government organization. The DEWAVerse will be a platform for customer service, Q&A, and also financial transactions concerning the DEWA services. They are also creating a workspace where virtual avatars would be able to move around and hold meetings inside the virtual DEWA buildings.
- Eye tests using Dubai Metaverse- The project spearheaded by ShopDoc, a Dubai-based health startup together with CLEAR, a US-based company is looking at innovative ways to conduct optical tests through metaverse using advanced calculations and optical simulations. This venture would be launched initially in UAE and India and then further expanded to other parts of the world later.
- UAE Ministry of Economy- The UAE ministry of economy is planning to launch its third branch as a virtual one and in the Metaverse. The new virtual location will have various services offered by the ministry of economy and also an auditorium where meetings and other events could be held.