As Metaverse has been becoming the new technology buzz in today’s day and age, Dubai has held it’s 2nd meta week to display trending technologies, companies and communities within the city and the region in general. Metaverse, an avant-garde creation of the blockchain development world, although in its early stages, promises to bring a pioneering experience to millions of users and shake up the global economy and innovation environment.
The market opportunity for the launch of Metaverse can generate over $1 trillion in annual revenue. Web 2.0 companies, tech giants such as Facebook, have already adopted the Metaverse stance, raising questions about whether or not they will become proponents of centralization for Web 3.0.
Breaking down the barriers between digital and physical space, Metaverse is best described as a virtual world with a highly sophisticated visual and artistic experience and a crypto-based DeFi backbone, filled with self-governing communities and powered by interoperable blockchain networks.
Inside the Metaverse, users can share and store unlimited data, use their own sovereign IDs, play games and earn and trade digital assets, create unlimited digital artwork and play with NFTs and virtual goods, run marketplaces – you name it.
Dubai is amassing regional efforts to develop the digital economy and embrace the Metaverse, with the recent launch of the Dubai Metaverse Strategy and the Higher Committee for Future Technology and Digital Economy. The strategy aims to increase the Metaverse sector’s contribution to the Emirate\’s economy to US$4 billion and create 40,000 virtual jobs by 2030. With Web 3.0 leaders and emerging start-ups moving to Dubai, the city is also attracting the brightest global talent in this areas. Dubai is also the first and only jurisdiction in the world with the foresight to establish a dedicated virtual asset regulator.
In addition to Metaverse, fundamental financial and non-financial blockchain applications will be covered during MetaWeek, a week-long event with a core 2-day conference and a rich schedule of side events. By supporting other technologies, blockchain creates a living symbiosis of advanced technologies. From a buzzword to a global financial and industrial gaming revolution, it has become an indisputable part of everyday life. Transparency, immutability, security, privacy – all the benefits of blockchain and cryptocurrency are in high demand and constantly discussed both at the developer’s table and in the regulator’s office.
Blockchain masterminds, NFT creators, DeFi leaders, AI forerunners, artists, gaming moguls, data analysts, Metaverse instigators and other professionals interested in creating and nurturing a Web 3.0 world will descend on Dubai for the landmark MetaWeek event, which will combine offline mode at a high level. networking and content creation and the versatile metaverse of experience. Blockchain and its computing power is the main pillar for global digital transformation, so it is part of the 2nd – day conference program.
