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Dubai International Financial Center (DIFC) has launched the ‘DIFC Metaverse Platform’, in line with the Dubai Higher Council for Future Technologies and Digital Economy’s goal of attracting global technology innovators.
The DIFC Metaverse platform is aligned with the Dubai Metaverse Strategy, which aims to add $4 billion to Dubai’s GDP by 2030, support 40,000 virtual jobs, and attract 1,000 companies specializing in blockchain and Metaverse technologies. The platform also supports the recently launched Dubai Economic Agenda D33’s goal of generating AED100 billion worth of economic value annually through digital transformation.
Omar Sultan Al-Orama, Minister of State for Artificial Intelligence, Digital Economy and Remote Work Applications, Chairman of Dubai Chamber of Digital Economy, and Vice-Chairman of Dubai Higher Council for Future Technologies and Digital Economy, said the UAE’s adoption of advanced technology is part of its goal to keep pace with global changes. The pace, reflecting its leadership’s directives, to transform the country and Dubai into a leading hub for leveraging the best technology and development capabilities.
Al Olama added that this Metaverse platform is the first in a series of initiatives aimed at strengthening Dubai’s position as a global platform for the latest digital trends and accelerating the pace of achievement of Dubai’s Metaverse strategic goals.
Arif Amiri, Chief Executive Officer, DIFC Authority, said: “The Dubai Government has shown foresight in introducing the Metaverse Strategy, which aims to make Dubai a global hub for technology and innovation. Integrating DIFC Metaverse The development of the platform will accelerate the realization of Dubai’s aspirations in this sector. The initiative is a natural extension of our Innovation Center proposal, which is shaping the technology and innovation landscape in the Middle East, Africa and South Asia region.”
The DIFC Metaverse platform includes three key initiatives. The first is an accelerator program with a dedicated metaverse technophysics studio that will foster the growth of a community of creators and venture capital.
The platform will also address Metaverse policy development and legislation on open data, digital identity and corporate law frameworks in the Metaverse. Additionally, the program will foster the growth of the Metaverse community, which will explore ways to enhance the customer Metaverse experience.
The Metaverse Accelerator Program is the first project launched under the platform and will start accepting applications this month. Over the next few years, the program aims to attract more than 500 applications, select the 50 most promising graduates from the program, and stimulate investment opportunities that will help the industry grow.
The program demonstrates DIFC’s commitment to supporting innovative metaverse start-ups by introducing them to the region’s biggest players. The program also helps them explore partnerships, access investors, enter regulatory sandboxes and receive marketing support.
In early November, the region’s first and largest fintech accelerator – DIFC FinTech Hive – hosted its annual investor day on the Metaverse platform, providing the region’s financial ecosystem with first-hand experience of the technology. DIFC Fintech Hive also partnered with Emirates NBD to launch and co-create their own Metaverse Accelerator Programme, which received over 100 global applicants.
The Metaverse Accelerator Program will run for six months, during which time a cohort of start-ups will be introduced to training and workshops to upskill and reskill in the technical and personal introspection of the Metaverse. The initiative also aims to foster collaboration between startups and enterprises to create proofs-of-concept and new Metaverse solutions. – trade arab news agency
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