UAE-based Metarverse Holdings has selected Dubai and Abu Dhabi as the first cities to be launched within the ‘world first’ virtual world to replicate true real life experiences and places, with a beta version due to be live by October 2022 and available globally by the end of the year.
Users globally will be able to experience Dubai and Abu Dhabi’s greatest attractions and landmarks alongside real world utilities from the comfort of their homes - merging the physical and digital world.
The Metarverse move comes following Dubai government's announcement of the formation of the Higher Committee for Future Technology and Digital Economy to oversee the city’s push to become a leading global hub for metaverse technology adoption.
Unlike other VR applications that create small scale, digital fantasy worlds, the new platform is bringing a complete Metaverse with full device compatibility and designed to stream quickly, it stated.
With the new platform, Metarverse Holdings is committed to investing AED200 million into the new project, to help the firm showcase all of this and satisfy the demand of all users who can now experience Dubai and Abu Dhabi for themselves, it added.
The Dubai group said the users could find synergy between their needs and the platform that encompasses NFT’s block chain trading, functionality to shop and view products in the biggest retail stores as well as buy advertising space in the virtual city, attend simulated lectures, register for licences and government issued documentation.
CEO Priven Reddy said Dubai and Abu Dhabi were the obvious selection for the very first simulated areas within its new metaverse. After evaluating other territories, the decision was made easy with the UAE as global leaders in disruptive technologies.
"With the emirates as leaders in adopting innovative new concepts and disruptive economic and technological models, for us, there was only one place we could launch," he added.
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