{"id":13303,"date":"2022-07-19T12:21:19","date_gmt":"2022-07-19T12:21:19","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/dubai-crown-prince-launches-metaverse-strategy-fivefold-increase-in-blockchain-and-metaverse-companies-envisioned-metaverse-bitcoin-news\/"},"modified":"2022-07-19T12:21:19","modified_gmt":"2022-07-19T12:21:19","slug":"dubai-crown-prince-launches-metaverse-strategy-fivefold-increase-in-blockchain-and-metaverse-companies-envisioned-metaverse-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/dubai-crown-prince-launches-metaverse-strategy-fivefold-increase-in-blockchain-and-metaverse-companies-envisioned-metaverse-bitcoin-news\/","title":{"rendered":"Dubai Crown Prince Launches Metaverse Strategy \u2014 Fivefold Increase in Blockchain and Metaverse Companies Envisioned \u2013 Metaverse Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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A master plan that aims to see the number of Dubai\u2019s blockchain and metaverse companies grow from the current 1,000 to 5,000 in five years, was recently launched by the kingdom\u2019s Crown Prince Sheikh Hamdan. Known as the Dubai Metaverse Strategy, the plan also seeks to create 40,000 jobs and bring in $4 billion to the Dubai economy.<\/strong><\/p>\n

Metaverse Contribution to Dubai\u2019s Economy<\/h2>\n

The crown prince of Dubai and chairman of the Dubai Executive Council, Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, has launched an ambitious plan to attract 5,000 blockchain and metaverse companies to the kingdom by 2027. Named the Dubai Metaverse Strategy, the plan envisions achieving the strategy\u2019s objectives within the next five years.<\/p>\n

\"Dubai<\/p>\n

In his Arabic tweet<\/a>, Sheikh Hamdan suggested that an increase in the number of companies in the sector will see their total contribution to the Dubai economy also grow. The crown prince explained:<\/p>\n

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Today we launched the Dubai Metaverse Strategy, the next revolution in the technological and economic field that will affect all aspects of life over the next two decades. We have 1,000 companies in Dubai currently working in this sector, which contributes $500 million to our national economy. We expect it to rise strongly during the coming period.<\/p>\n<\/blockquote>\n

Meanwhile, a report<\/a> on Laraontheblock quotes Sheikh Hamdan asserting that a rise of blockchain and metaverse companies to 5,000 will \u201cadd 40,000 new jobs in the virtual world and bring in 4 billion USD to Dubai\u2019s economy in the next 5 years.\u201d<\/p>\n

Besides adding jobs and helping to grow Dubai\u2019s economy, the strategy will encourage innovation as well as government utilization of metaverse technology. By proceeding to launch the metaverse strategy well ahead of other countries, Dubai is aiming to become \u201cone of the top 10 globally in this field.\u201d<\/p>\n

What are your thoughts on this story? Let us know what you think in the comments section below. <\/strong><\/em><\/p>\n

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\nTerence Zimwara <\/h6>\n

\nTerence Zimwara is a Zimbabwe award-winning journalist, author and writer. He has written extensively about the economic troubles of some African countries as well as how digital currencies can provide Africans with an escape route.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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