DIFC launches Metaverse Platform to attract technology innovators

By Arya M Nair, Official Reporter
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Dubai International Financial Centre (DIFC) has launched the “DIFC Metaverse Platform”, in line with the Dubai Higher Committee for Future Technology and Digital Economy’s aim to attract technology innovators from around the world.

The DIFC Metaverse Platform is aligned with the Dubai Metaverse Strategy, which aims to add $4 billion to Dubai’s GDP, support 40,000 virtual jobs by 2030 and attract 1,000 companies specialized in blockchain and metaverse technologies.

The platform also supports the objective of the recently launched Dubai Economic Agenda D33 to generate economic value worth $27.2 billion from digital transformation annually.

Arif Amiri_DIFC launches Metaverse Platform
Arif Amiri
CEO – DIFC Authority

“The Dubai government has shown great foresight in introducing a metaverse strategy that has the objective of making the emirate a global hub for technology and innovation. The development of the integrated DIFC Metaverse Platform will accelerate the achievements of Dubai’s aspirations in this sector. The initiative is a natural extension of our Innovation Hub proposition that has shaped 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 physical studio for metaverse technology that will promote the development of a creator community and venture building. The platform will also address the metaverse policy development and legislation on open data, digital identity and company law frameworks in the metaverse. Furthermore, the initiative will foster the development of a metaverse community that will explore ways to enhance the metaverse experience for customers.

Mr. Omar bin Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy, and Remote Work Applications, Chairman of the Dubai Chamber of Digital Economy, Vice Chairman of the Dubai Higher Committee for Future Technology and Digital Economy, added that this Metaverse platform is the first in a series of initiatives that aim to strengthen Dubai’s position as a global platform for the latest digital trends and accelerate the pace to achieve the objectives of the Dubai Metaverse Strategy.

The Metaverse Accelerator Program, the first initiative to be launched under the umbrella of the platform, will start accepting applications this month. In the coming years, the program seeks to attract more than 500 applications, identify 50 of the most promising graduates from the program and stimulate investment opportunities that will help the sector grow.

The Program will run over a period of six months, during which the cohort of start-ups will be introduced to training and workshops to upskill and reskill themselves in both technical and intrapersonal aspects of the metaverse. The program also aims to facilitate partnerships between start-ups and corporates to create proofs-of-concept and new metaverse solutions.

Related: DIFC & UK issue joint statement on deepening data partnership