A master plan that aims to see the number of Dubai’s blockchain and metaverse companies grow from the current 1,000 to 5,000 in five years, was recently launched by the kingdom’s Crown Prince Sheikh Hamdan. Known as the Dubai Metaverse Strategy, the plan also seeks to create 40,000 jobs and bring in $4 billion to the Dubai economy.
The crown prince of Dubai and chairman of the Dubai Executive Council, Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, has launched an ambitious plan to attract 5,000 blockchain and metaverse companies to the kingdom by 2027. Named the Dubai Metaverse Strategy, the plan envisions achieving the strategy’s objectives within the next five years.
Today we launched the Dubai Metaverse Strategy, the next revolution in the technological and economic field that will affect all aspects of life over the next two decades. We have 1,000 companies in Dubai currently working in this sector, which contributes $500 million to our national economy. We expect it to rise strongly during the coming period.
Besides adding jobs and helping to grow Dubai’s economy, the strategy will encourage innovation as well as government utilization of metaverse technology. By proceeding to launch the metaverse strategy well ahead of other countries, Dubai is aiming to become “one of the top 10 globally in this field.”
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