The metaverse industry gained a new boost

Metaverse Dubai is planned to be launched in the United Arab Emirates. Within 5 years, the city authorities intend to create 40’000 vacant positions in the virtual space, which should bring $4 billion to the budget.

“We launched the Dubai Metaverse Strategy today, which aims to foster innovation in new technology. Dubai is home to over 1'000 companies operating in the metaverse and blockchain sector, which contributes $500 million to our national economy,” tweets Sheikh Hamdan bin Mohammed, Crown Prince of the Emirate.

With the further development of the metaverse project, Dubai authorities are planning to increase the number of blockchain companies by 5 times within 5 years. Nowadays, about a thousand metaverse and blockchain enterprises operate in the largest city of the UAE, providing $0'5 billion annually to the local economy.

“The strategy places particular emphasis on developing talent and investing in the future by providing the necessary support to educate developers, content creators and users of digital platforms across the metaverse,” UAE state agency WAM said in a statement.

The largest companies in Dubai have already become part of the promising project. For example, this spring, Emirates Airline announced its intention to release NFTs and create a metaverse.

According to recent research by YouGov and Globant, 52% of American gamers believe that the emergence of the Metaverse will affect the entire gaming industry, and 41% note the positive route of affection. The survey involved a thousand gamers aged 18 and over who play more than 3 hours a week. 40% of the study participants are already ready to play P2E games within the metaverse.

It seems the development of the direction of the metaverses cannot (and should not) be stopped. The pace at which it happens is growing month by month.

Such well-known brands as Microsoft, Coca-Cola, and H&M are already investing millions of dollars in the further development of digital worlds, and more and more users are interested in the possibilities of the metaverse.

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