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UAE Metaverse News

e&amp;, known formerly as Etisalat Group, announced the soft launch of its virtual world, e&amp; universe hosted virtually in Arcadia Planitia on Mars.



This announcement came during Gitex Global 2022, held at the Dubai World Trade Center with the participation of 5,000 exhibitors.



CEO of e&amp; Hatem Dowidar said his company takes its first steps in the metaverse, marking a remarkable accomplishment in the e&amp;’s transformation journey to global technology.



Dowidar pointed out that the e&amp; universe comes as a result of collaboration with HTC to provide an enriching experience for users through multiple virtual spaces and avatars.



Dowidar noted that the United Arab of Emirates (UAE) enjoys high bandwidth and low latency, a matter which makes the metaverse functional with the launch of 5G a few years ago.



Despite being in its early incubation stages, several companies and the Dubai government expanded their footprints in the metaverse.



“Telcos must consider harnessing [the metaverse’s] potential for the betterment of lives, whether it is a virtual playground or shopping destination, or even using it as a training ground for smarter, more efficient AI and industrial manufacturing processes,” Dowidar told the press during Gitex.



He asserted the importance of 5G technology in powering the metaverse as it offers low latency, enhanced render level of detail (LOD), and offload processing, adding telecoms can play a more prominent role in the metaverse through the 5G technology, Artificial Intelligence (AI), edge cloud, and analytics.



According to him, telecoms will be needed to cooperate with technology platform providers, specialist cloud providers, technology giants, online game developers, and internet tech companies to create a stronger metaverse system.



He also said that the next phase of e&amp; universe would include purchasing digital assets and NFTs, watching virtual concerts and sports events, and other experiences which will make e&amp; the first telecom in the UAE and region to offer such services.



He pointed to e&amp;&#8217;s business center, established in the metaverse in cooperation with Huwaei, as it provides users with a digital 3D retail experience via metaverse technologies.



Through e&amp;&#8217;s business center, customers can experience a whole new level by using VR devices as they can benefit from digital services and products offered by e&amp; through the use of high-speed 5G technology.



Over the past few years, the UAE has positioned itself as one of the world’s prominent hubs for metaverse and blockchain technologies.



The Emirati government, in July, launched the Dubai Metaverse Strategy which aims to contribute $4 billion to the emirate’s economy. The strategy targets increasing the number of blockchain and metaverse companies fivefold within five years as well as offering 40,000 virtual jobs.

e& Universe

Metaverse

UAE’s Etisalat Group Takes First Steps in Metaverse

The UAE Ministry of Economy announced launching its new headquarters at the metaverse on Wednesday.&nbsp;



This announcement was made by UAE Minister of Economy Abdalla bin Touq Al Marri while addressing the attendance at the Dubai Metaverse Assembly, organized by Dubai Future Foundation (DFF).&nbsp;



Bin Touq said that the <a href="https://upyo.com/en/news/metaverse">metaverse</a> could be a gate that qualifies the UAE to be a digital export hub and a prominent metaverse economy. 



According to Bin Touq, the metaverse is an economic equalizer that transforms key industries from logistics to real estate.&nbsp;



“The UAE has continued to support and empower emerging economic industries built around knowledge, innovation, and artificial intelligence,” the UAE minister underlined.



&nbsp;He described the metaverse as one of the exciting applications which could redefine the UAE&#8217;s diversified economy, adding asserting the importance of digital technology for his country’s economic model in the coming 50 years.&nbsp;



Bin Touq said the global metaverse market is predicted to hit $1.6 trillion by 2030, with total annual growth of 43.3%, pointing out that the UAE has the potential to be one of the top 10 metaverse economies in the world and a global investment center in this domain.



He added that his country became a center to develop leading web3 technologies and applications, referring to analysts’ predictions that the web3 market would hit a valuation of $80 billion by 2030.&nbsp;



<figure class="wp-block-image aligncenter size-full"><img decoding="async" loading="lazy" width="800" height="533" src="https://adminblog.upyo.io/wp-content/uploads/2022/09/UAE-Minister-of-Economy.jpg" alt="" class="wp-image-1727" srcset="https://3.111.63.208/wp-content/uploads/2022/09/UAE-Minister-of-Economy.jpg 800w, https://3.111.63.208/wp-content/uploads/2022/09/UAE-Minister-of-Economy-300x200.jpg 300w, https://3.111.63.208/wp-content/uploads/2022/09/UAE-Minister-of-Economy-768x512.jpg 768w" sizes="(max-width: 800px) 100vw, 800px" /><figcaption class="wp-element-caption">UAE Minister of Economy Abdulla Bin Touq Al Marri</figcaption></figure>



How To Enter The Ministry in The Metaverse



Khalifa Al Jaziri, the avatar representing the ministry in the metaverse, said visitors can enter the ministry&#8217;s headquarters after getting a virtual ticket or token and sending a notification to the ministry&#8217;s customer happiness center.&nbsp;



Jaziri noted the citizens are not required to visit the real-world headquarters as all services could be done in the digital world, adding each floor will have different purposes.&nbsp;



About The Event



The assembly is the first event that comes as a result of the implementation of the Dubai Metaverse Strategy approved by Sheikh Hamdan Rashid Al Maktoum in July.&nbsp;



The strategy aims to increase Dubai’s GDP by $4 billion, create 40,000 virtual jobs by 2030, lure 1,000 companies specializing in blockchain and metaverse technologies as well as transforming Dubai into a leading metaverse economy around the globe.&nbsp;



Many international organizations and companies are participating in the event, such as the World Economic Forum, META, MasterCard, Binance, BCG Digital Ventures, the Sandbox, PwC, Accenture, Dubai Blockchain Center, Bedu, and DeCentraland, among others.&nbsp;



Government entities and local organizations are also taking part in the event such as the Dubai International Financial Centre, DAMAC, Majid Al Futtaim, VARA, and Dubai Digital, among others, with the aim of evaluating national projects and exchanging experiences on the metaverse.

UAE Ministry of Economy

UAE Ministry Launches New HQ in Metaverse

<a href="https://upyo.com/en/news/nft">Non-fungible tokens (NFTs)</a> did not only succeed in attracting artists and collectors but also billionaires and businessmen. One of the most prominent businessmen, who entered the NFTs world and achieved a good reputation, is Ali Sajwani of the United Arab of Emirates (UAE). 



In this article, we will review Sajwani&#8217;s story with NFTs;&nbsp;



<h2>Who Is Ali Sajwani?&nbsp;</h2>



Ali Hussain Sajwani, 28, is the Chief Executive Officer of D-Labs and General Manager of Operations at DAMAC Properties. Born in 1995, Sajwani completed his bachelor&#8217;s degree in economics from Northeastern University in the United States.&nbsp;



Despite being in his 20s, Sajwani is one of the most influential characters in the Gulf region, not only in the UAE. He was selected by Arabian Business Magazine as one of the 100 most inspiring leaders in the Middle East.&nbsp;



<h3>His Career&nbsp;</h3>



Sajwani has a rich career. Inherited an entrepreneurial mindset from his father, Hussain Sajwani, the founder of DAMAC, Ali, from an early age, was keen on exploring new horizons, focusing on strategic business investments, particularly in the areas of technology, sustainability, and startups.&nbsp;



He established private projects like a transportation company, which he exited in 2020 after achieving revenues that hit 200%. He established a facility management company with 1,500 employees in the field of the luxury hospitality industry. His last private project was a short-term rental company, which is considered one of the most desirable sectors in Dubai.



Sajwani sits on the board of the family office for investments and is a founding board member of Emirates Angels Investors Association. In addition, he is the chief executive officer of D-Labs and the general manager of operations at DAMAC Properties.&nbsp;



<h3>Sajwani&#8217;s Story with NFTs</h3>



Sajwani was keen on entering the web3 world very early. He saw that the <a href="https://upyo.com/en/news/metaverse">metaverse</a> and NFTs worlds were developing very quickly. He entered this field from a different perspective, thinking that NFTs are a golden opportunity for Emirati companies, who look to regain control of their brands and grow their online communities.



He believes that along with the development of the web3 world, it was important for brands to strengthen their online presence not only through traditional websites but also through joining the metaverse and interacting with a new generation of consumers.&nbsp;



<h3>$100-Million-Investment In Metaverse&nbsp;</h3>



In light of his positive vision toward the virtual worlds and their role in developing Emirati companies, DAMAC announced investing $100 million in the metaverse in April this year.&nbsp;



DAMAC&#8217;s move comes within a framework of its keenness to achieve its goal to be a leading digital brand globally. In this regard, Sajwani believes that this step would help his company to enhance its digital presence and meet its digital asset needs, from virtual homes and real estate to digital wearables to digital jewelry.



He sees the metaverse as a tremendous addition to businesses, companies, and employees by bolstering collaboration and communication in a 3D environment, increasing customer engagement, and promoting customer loyalty, which will surely eventually lead to increased revenues.



<figure class="wp-block-image size-full"><img decoding="async" loading="lazy" width="849" height="440" src="http://adminblog.upyo.io/wp-content/uploads/2022/09/307311542_671985404498221_6550615076043357744_n.webp" alt="" class="wp-image-1544" srcset="https://3.111.63.208/wp-content/uploads/2022/09/307311542_671985404498221_6550615076043357744_n.webp 849w, https://3.111.63.208/wp-content/uploads/2022/09/307311542_671985404498221_6550615076043357744_n-300x155.webp 300w, https://3.111.63.208/wp-content/uploads/2022/09/307311542_671985404498221_6550615076043357744_n-768x398.webp 768w" sizes="(max-width: 849px) 100vw, 849px" /></figure>



<h3>Selling Real Estate With Cryptocurrencies&nbsp;</h3>



In light of Sajwani&#8217;s belief of what is digital, DAMAC announced accepting cryptocurrencies as a means of payment for purchasing real estate. He revealed that DAMAC achieved real estate via cryptocurrencies worth $50 million, AED183.5 million, since the beginning of 2022.&nbsp;



DAMAC is inking real estate deals worth $40 million every month through digital real estate 3D platforms via metaverse, targeting to increase this number to $150 million in 2023.&nbsp;



This vision comes in light of the popularity of real estate in virtual worlds, so Sajwani believes that his company&#8217;s entry into the metaverse would contribute to enhancing its sales and luring more international investors.



<h4>Golden Advice&nbsp;</h4>



Sajwani always advises companies and projects to invest in this promising space. On more than one occasion, he asserted the importance of entering the NFTs world, which represents an unprecedented opportunity for companies to create stronger loyalty to their brands among the communities in the metaverse.



You can follow Ali Sajwani on his official accounts on social media through these links:



<ul class="is-layout-flex wp-block-social-links"><li class="wp-social-link wp-social-link-linkedin wp-block-social-link"><a href="https://www.linkedin.com/in/ali-sajwani-08657387/" class="wp-block-social-link-anchor"><svg width="24" height="24" viewBox="0 0 24 24" version="1.1" xmlns="http://www.w3.org/2000/svg" aria-hidden="true" focusable="false"><path d="M19.7,3H4.3C3.582,3,3,3.582,3,4.3v15.4C3,20.418,3.582,21,4.3,21h15.4c0.718,0,1.3-0.582,1.3-1.3V4.3 C21,3.582,20.418,3,19.7,3z M8.339,18.338H5.667v-8.59h2.672V18.338z M7.004,8.574c-0.857,0-1.549-0.694-1.549-1.548 c0-0.855,0.691-1.548,1.549-1.548c0.854,0,1.547,0.694,1.547,1.548C8.551,7.881,7.858,8.574,7.004,8.574z M18.339,18.338h-2.669 v-4.177c0-0.996-0.017-2.278-1.387-2.278c-1.389,0-1.601,1.086-1.601,2.206v4.249h-2.667v-8.59h2.559v1.174h0.037 c0.356-0.675,1.227-1.387,2.526-1.387c2.703,0,3.203,1.779,3.203,4.092V18.338z"></path></svg>LinkedIn</a></li>

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UAE Metaverse News

Latest UAE Metaverse News