Dubai to create 40000 metaverse jobs in five years

Dubai to create 40000 metaverse jobs in five years

Dubai presents its emerging tech strategy. Metaverse jobs are expected to make a major contribution to economic growth in as little as five years.

When Facebook rebranded itself as Meta last October and set the Metaverse as its new corporate vision, some wondered. Others broke out in gold-rush excitement. Dubai, like Meta, sees a lot of revenue potential in the future vision and wants to realize it in a timely manner.

Dubai wants to be in the top 10 Metaverse cities

On Twitter, Crown Prince Sheikh Hamdan bin Mohammed outlines the Metaverse strategy for Dubai. In particular, the 40,000 Metaverse jobs stand out. That is, real professions that are performed in virtual environments. These jobs are expected to contribute around $4B annually to the economy in five years.

Regionally, Dubai is to become the metaverse capital. Globally, it is to be among the top 10 cities helping to shape the metaverse economy.

Sheikh Hamdan bin Mohammed cites innovation and the integration of the Metaverse into the economy as pillars. Dubai also wants to train and promote talent that can build the Metaverse and fill it with content, and develop application scenarios on the part of the government.

In September 2022, the “Museum of the Future” in Dubai will host a global Metaverse event. There, 300 experts from 40 organizations are expected to gather and discuss the possibilities of the Metaverse for humanity. Some of the meetings will be held in the Metaverse.

Video: Hamdan bin Mohammed via Twitter

Blockchain, metaverse, crypto, etc.

the strategy paper throws “metaverse” and “blockchain” together to some extent. While there may be interplay between the two technologies in the future, they are not directly linked.

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According to Hamdan bin Mohammed, there are already more than 1,000 companies in the metaverse and blockchain sectors in Dubai, turning over about $500M annually. By 2027, the number of these companies is expected to increase fivefold under Dubai’s Metaverse strategy.

One example project is provided by billion-dollar real estate conglomerate Damac Group, which wants to build digital cities, in part to trade virtual land. “There is a huge demand for real estate in the Metaverse, which is considered one of the most popular attractions for investors in the virtual space,” it said in a press release.