Metarverse Holdings has announced that Abu Dhabi and Dubai will be the world’s first cities within the global metaverse launch. The Emirates will be the first ‘utilised’ hub within the first virtual world that replicates real life experiences and places.
Following the Government of Dubai’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, 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. A Beta version is due to go 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.
Unlike other VR applications that create small scale, digital fantasy worlds, the new platform is bringing a complete metaverse with full device compatibility and is designed to stream quickly. Users can find synergy between their needs and the platform that encompasses NFT’s blockchain trading, functionality to shop and view products in the biggest retail stores, buy advertising space in the virtual city, attend simulated lectures, register for licences and government issued documentation and more.
Priven Reddy, CEO of Dubai based Metarverse Holdings, believes Dubai and Abu Dhabi were the obvious selection for the very first simulated areas within its new metaverse.
Reddy commented: “After evaluating other territories, the decision was made easy with the UAE as global leaders in disruptive technologies, and driven by the mission and vision of His Highness Sheikh Hamdan bin Mohammed and the Dubai Government as a whole.
“This vision consolidates the Emirates as leaders in adopting innovative new concepts and disruptive economic and technological models, so for us, there was only one place we could launch. More so than Europe or the United States, people all over the world are fascinated by the rise of the Emirates and the attractions, developments, transport, education and culture , and inspired by a speed of innovation that other countries can only dream of.
“With the new platform, Metarverse Holdings is committed to investing AED 200 Million into our project, to help us showcase all of this and satisfy the demand of all users who can now experience Dubai and Abu Dhabi for themselves.”
Image and article originally from thefintechtimes.com. Read the original article here.