Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, the Dubai Crown Prince and Chairman of the Dubai Executive Council shared the tenets and goals of the Dubai Metaverse Strategy on Twitter. The strategy was announced by the Crown Prince on Monday.
The plan intends to five-fold the number of blockchain and metaverse businesses in Dubai over five years through exponential growth. The introduction of approximately 40,000 virtual employment opportunities would boost Dubai's economy by $4 billion.
Calling the metaverse "the next revolution [that would] affect all aspects of life during the next two decades", Sheikh Hamdan noted that there are currently 1,000 companies in this sector in Dubai alone. He further stated, "[They] contribute $500 million to our national economy, and we expect it to rise strongly during the coming period."
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