New Delhi: Dubai is set to showcase ‘real’ meetings in the virtual world. The nation will be hosting a metaverse assembly at the Museum of the Future and Emirates Towers in the month of September.
Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, the Crown Prince of Dubai, announced via Twitter that the event will be featuring 300 global experts and 40 institutions that specialise in metaverse technologies and applications.
According to a report by Khaleej Times, the event will also showcase real metaverse experiences in key sectors and an host meetings in the digital world.
The Assembly will be held from September 28 to 29 and will explore how the revolutionary technology can be deployed across vital sectors to create a better future and quality of life for humankind.
The report stated, “the delegates will participate in sessions and workshops to take a deep dive into the metaverse, understand its impact on humanity, discuss the potential of humanising its applications, and identify the best ways to leverage opportunities across strategic sectors of countries, governments, and companies.”
Sheikh Hamdan bin Mohammed said, “The metaverse is a promising digital world. We aim to harness this technology to enhance the quality of life in the UAE and across the globe.”
“We want Dubai to lead globally in adopting the technology of the future, understanding its developments, harnessing its potential, and driving change,” the report added.
The value of metaverse’ market is estimated between $10 trillion and $30 trillion within 15 years, implying the massive potential of the new platform.
The announcement followed the launch of the Dubai Metaverse Strategy that will support 40,000 virtual jobs and add $4 billion to the emirate’s economy in the next five years.
The report by Khaleej Times added, “the Dubai Metaverse Assembly will introduce tangible outcomes, including reports, strategies and action plans that outline the way forward for maximising the impact on human life in both the real and virtual worlds. This will be done through innovative workshops bringing together major companies leading the innovation in building the metaverse and its applications, in addition to metaverse policymakers and thought leaders.”
It aims to enhance the world’s readiness to adopt and leverage the metaverse.
Reportedly, the assembly’s programme includes three main elements: Educate, Inspire, and Contribute.
– Educate: This aspect will consist of over 10 in-depth sessions based on the metaverse.
– Inspire: This aspect will be presented by several partners, this track will showcase use-cases of the metaverse in tourism, logistics, retail, education, and healthcare sectors.
– Contribute: This aspect will include workshops for metaverse foresight and use-case reviews.
The event will feature various activities such as panel discussions, specialised workshops for major companies and organisations to generate tangible outcomes. “The assembly will be a platform for thought leaders to share their vision of the future, considering the opportunities and unprecedented solutions offered by the metaverse,” the report by Khaleej Times added.
The estimated expenditure on virtual products in the metaverse has reportedly reached $54 billion in 2020. In 2021, only the NFT or non-fungible tokens market amounted to nearly $41 billion.