The DIFC Metaverse Platform has been launched by the Dubai International Financial Centre (DIFC).
According to the report, the platform is in line with the Dubai Metaverse Strategy, which aims to add $4 billion to Dubai’s GDP, support 40,000 virtual jobs by 2030, and attract 1,000 companies specializing in blockchain and metaverse technologies.
Omar bin Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy, and Remote Work Applications, chairman of the Dubai Chamber of Digital Economy, and vice chairman of the Dubai Higher Committee for Future Technology and Digital Economy, stated that the UAE adopts advanced technologies in order to maintain pace with global changes, reflecting its leadership’s guidance in transforming the country and Dubai to become a leading hub for utilizing advanced technologies.
In accordance with the Dubai Metaverse Strategy
Al Olama went on to say that this metaverse platform is the first in a series of actions aimed at achieving the goals of the Dubai Metaverse Strategy.
The advancement of the integrated DIFC Metaverse Platform will increase the achievement of Dubai’s aims in this sector, said Arif Amiri, CEO of the DIFC Authority. The initiative is a natural evolution of their Tech Hub proposition, which has influenced the innovation and technology landscape in the Middle East, Africa, and South Asia region.
Three important efforts are part of the platform. The first is a metaverse technology-specific accelerator program with a physical studio that will foster the development of a creator community and business ventures. It will cover the creation of metaverse policies and laws pertaining to open data, digital identities, and corporate legal frameworks. The effort will also promote the growth of a metaverse community that will look into how to improve users’ experiences in the metaverse.
Application open
The first project to be created under the platform’s authority, the Metaverse Accelerator Program, will begin taking applications in January. In the future years, the program expects to receive more than 500 applications, choose 50 of the best-qualified graduates from the program, and promote investment opportunities that will aid in the sector’s progress.
The program will support businesses with marketing, exposure to investors, access to a regulatory sandbox, and partnership exploration.
The first and biggest FinTech accelerator in the area, DIFC FinTech Hive, held its annual Investor Day on the Metaverse Platform at the beginning of November, providing the area’s financial ecosystem a first-hand look at the technology.
Additionally, DIFC Fintech Hive and Emirates NBD collaborated to build and design their own Metaverse Accelerator program, which attracted more than 100 international candidates.
The program will last for six months, during which time the cohort of companies will be exposed to workshops and training to improve their technical and intrapersonal metaverse skills.
The program also intends to encourage corporates and entrepreneurs to collaborate on novel metaverse solutions and proofs of concept.
