April 15, 2024
PRESS RELEASES Finance GCC UAE

UAE’s Ministry of Economy Opens Headquarters in the Metaverse

The UAE’s Ministry of Economy recently announced the launch of its third address after its Dubai and Abu Dhabi branches. However, this launch is particularly interesting because, unlike the other two addresses, the most recent one is a virtual branch based in the Metaverse. The Ministry announced this development at the recently concluded Dubai Metaverse Assembly.

According to Khalifa Aljaziri, the Ministry’s metaverse lead, the Metaverse office will function the same way as the physical offices. Visitors will be ushered in by a customer happiness officer who will assign tickets based on visitors’ specific intentions. The office will also enable visitors to hold meetings. Private booths will also be provided for metaverse users to share and discuss their plans with other users. More importantly, the office will leverage advanced digital infrastructure to sign bilateral agreements. This feature will eliminate the need for the physical presence of state actors during agreement signing.

Why The Metaverse headquarters is Important

The Metaverse headquarters provides an immersive experience for all global corporations, individual visitors, and general stakeholders. However, this is not the first time a UAE public entity is establishing a metaverse presence. For instance, the Dubai Virtual Assets Regulatory Authority (VARA) established a metaverse HQ in May 2022. According to the VARA, the HQ is expected to make the agency accountable to all stakeholders. Furthermore, in June, the police force of Ajman city also launched a metaverse presence. According to the police, Ajman residents can inquire and lodge complaints to avatar officers at the metaverse location.

Amid these developments, the Dubai government has taken a step to expand its metaverse footprint further. The government launched a metaverse strategy in July 2022. The strategy is expected to attract over 1,000 metaverse firms to the city and create over 40,000 virtual jobs by 2030.

Other features of the Ministry’s metaverse address include an auditorium where users can hold meetings. The auditorium will include live webinars, data presentations, and customer support. The auditorium will also enable users to clap, wave, and dance. According to the Ministry, the Metaverse will be a 3D alternative to its 2D website. This way, users will be provided with an immersive experience of the Ministry.

Representatives of the Ministry disclosed these details at the Dubai Metaverse Assembly. The metaverse assembly is a gathering for global experts and institutions to showcase their respective metaverse projects. This year, the assembly featured workshops and panel discussions on topics like web 3.0. The assembly was held from September 28 to September 29 at the Dubai Emirates Towers.

Over the years, many countries have intensified efforts to boost their metaverse capabilities. China recently launched a Metaverse Innovation and Development Plan to integrate NFT and the Metaverse into the Chinese economy by 2024. These trends indicate that the world is racing to get on the metaverse wave. As more Middle Eastern countries follow in the UAE’s footsteps, the region will be well-positioned to thrive as a metaverse leader.

Last Updated on 4 weeks by newseditor

    Related Posts

    Leave a Reply

    Your email address will not be published. Required fields are marked *