United Arab Emirates: Announced Dubai Metaverse Strategy including Web3 technology and extended reality

On 18 of July 2022, the Emirate of Dubai unveiled the Dubai Metaverse Strategy with the objective of enhancing the metaverse economy in the Emirate. The initiative seeks to engage over 1000 companies and create employment opportunities for over 40’000 individuals by the year 2030. Moreover, the Strategy aspires to foster technological innovation and promote the growth of Web3 technology in key sectors such as healthcare and education. The plan also involves the incorporation of extended reality and the use of real-time data, machine learning, and artificial intelligence to impact human cognitive processes.