UAE’s efforts to establish robust infrastructure for Metaverse and Web3 future
The UAE has taken a great leap when it comes to technological upgrades and is aiming to give the best experience to all users. This change has been accelerated with the introduction of Web3 in our systems, which constantly aims to make mundane tasks quite exciting and is therefore on its way to making Dubai the hub for all the latest technologies.
Dubai is slowly becoming a major global Metaverse hub with the launch of Metalncubator, which is the first Metaverse incubator in the Middle East and has developed a Metaverse platform that allows people to receive health support virtually. Eikonikos, a Metaverse startup in Dubai, has raised $2 million in funding. Web3 is also going hand in hand and has become the reason that businesses and funding are being attracted to Dubai.
BEDU, which is Dubai’s leading pioneer in creating a world-class blockchain, Web3, and Metaverse, has launched its system with a focus on empowering and strengthening businesses, governments, and individuals and also educating them with proper tools and knowledge. It would bring in funding and expertise from other parts of the world, which would help in achieving the UAE’s goal quite quickly. Hence, Dubai is aiming to work with private sector companies and investors as well to create a more advanced, futuristic, and user-friendly platform that would capitalize on the opportunities posed by the Metaverse. It is expected that public spaces and city centers will also soon become quite advanced, which would also implement such advanced technologies.
BEDU is aimed at covering a large range of innovations that would not only serve for 2022 but for the coming several years. It includes NFTs, Metaverse, web3, and a vision to build a community that would readily support and promote the growth of the Metaverse and Web3 infrastructure in Dubai. They also launched a UAENFT collection called “From Desert to Mars” that features the world’s most creative and talented NFT artists. This has attracted a lot of investors and companies and allowed funding into it as well.
Merging the two technologies of the Metaverse and Web3, the Dubai Municipality will launch an initiative known as the One Human Reality Talks that focuses on bringing companies together that will pitch in their own ideas to get futuristic answers to common problems and bring about new realities. The Metaverse comprising of 5G, AI, blockchain, and other futuristic ideas will readily converge on the digital experiences that users commonly encounter and would elevate such experiences to a whole new level.
In the last few years, the UAE has launched NFTs and other ventures that make the user experience of the Metaverse a grand experience along with collectibles and utility-based NFTs. The adoption of NFTs in Dubai has also been at its peak due to the rampant growth of Web3 and, realizing the advantages posed by Web3, the blockchain technologies that run on a decentralized and peer-to-peer network are also witnessing a great hike. Studies also reveal that the value of the Metaverse industry is expected to double in 2022 as compared to $500 million in 2021. In conclusion, the UAE’s efforts in building a great infrastructure for the Web3 and Metaverse industries are all turning out to be for the best as investors and leading global businesses are looking at the UAE as the optimum environment for growth and advancement.
