January 31, 2023

Dubai’s DIFC Launches Metaverse Platform for Technology Innovators

Dubai’s DIFC Launches Metaverse Platform for Technology Innovators Featured Image

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The Dubai International Financial Center (DIFC) announced the launch of its metaverse platform to lure technology innovators from all countries around the world, according to The National Newspaper.

In a statement, the Dubai Media Office said the launch of the center falls within the framework of its efforts to make Dubai a global metaverse hub. 

The DIFC metaverse platform includes an accelerator program equipped with a physical studio for metaverse technology to bolster the growth of venture building and a creator community. It will also focus on digital identity, policy development and legislation on open data, and company law frameworks in the metaverse.

In this regard, Minister of State for Artificial Intelligence, Digital Economy, and Remote Work Applications Omar bin Sultan Al Olama said the launch of the DIFC metaverse platform is the first of its kind in a series of initiatives set to be launched to make Dubai a pioneering center in recent technologies to achieve the Dubai Metaverse Strategy’s goals. 

Meanwhile, Chief Executive of DIFC Authority Arif Amiri noted: “The development of the integrated DIFC Metaverse Platform will accelerate the achievements of Dubai’s aspirations in this sector. The initiative is a natural extension of our Innovation Hub proposition.”

Earlier, Boston Consulting Group (BCG) said the UAE is an adequate ground for unlocking the potential of ten metaverse-based use cases like virtual and augmented shopping, virtual collaboration, telehealth, virtual assets, augmented tourism, live augmented events, digital training, and digital twins.

A recent report by BCG, in collaboration with Meta, titled “Creating a New Reality: The Metaverse in MENAT,” examined the growth potential of these ten use cases in the UAE, highlighting the UAE market’s key role in expanding the uses of the metaverse.

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