Metaverse is an innovative creation of the world of blockchain development although it is still in its beginning stages it promises to provide an experience that is revolutionary for millions of users, and to shake the world’s economy as well as the world. The market potential for launching the Metaverse could generate an annual income of more than $1 trillion. Web 2.0 corporations, including tech giants such as Facebook have already picked up the Metaverse position, prompting the question of whether they’ll become centralisation supporters in the direction of Web 3.0 or not.
The Metaverse is breaking down the barriers between physical and digital spaces, Metaverse is best described as a world of virtual reality with a advanced visual and artistic experience and a DeFi-based crypto backbone that is populated by self-governed communities that are supported by blockchains that are interoperable. In the Metaverse it is possible to access and store an unlimitable amount of data, make use of self-sovereign IDs as well as play games to earn and exchange digital currency, design endless digital art as well as play with virtual goods and NFTs and marketplaces, you can name it.
Dubai is accumulating regional efforts to promote development of the digital economy and Metaverse acceptance, including the introduction of Dubai Metaverse Strategy and The Higher Committee for Future Technology and Digital Economy which was established recently. The goal of the strategy is to boost the value of the Metaverse sector Dubai’s economy by 4 billion dollars and create the equivalent of 40,000 jobs in virtual reality in 2030. With Web 3.0 leading companies and emerging startup companies shifting to Dubai The city is attracted by the best world-class talent in this area. Dubai has also been dubbed the first and only city with the vision of setting an exclusive virtual asset regulator.
Alongside Metaverse as well, the essential applications for financial and non-financial blockchain will be discussed in MetaWeek which is a week-long conference featuring a 2-day conference as well as a full schedule of other activities. Blockchain is a technology that can be used to empower other technologies. can create a dynamic synergy between technological advancement. From an obscure term to an international financial and industrial game changer, it’s now an integral part of the everyday. Security, transparency, immutability privacy, and transparency — the advantages of crypto and blockchain are highly sought-after, and are frequently discussed at the developer’s desk as well as in the regulatory office.
Masterminds of Blockchain, NFT developers, DeFi leaders, AI forerunners gaming tycoons and data analysts Metaverse facilitators and other experts involved in developing and nurturing the web 3.0 the world will meet in Dubai for the largest MetaWeek event that will be a combination of high-end offline networking, content and an the whole metaverse experience. Blockchain and its power to compute is the primary pillar of the digital transformation of the world, therefore the state of the blockchain technology and the range options of blockchain protocols as well as solutions available for FinTech and logistics, business entertainment, tokenisation of assets IoT and AI will be a an integral part of the conference’s two-day agenda.