The Dubai International Financial Center (DIFC) unveils its metaverse platform to attract technology innovators worldwide.
The metaverse platform consists of three main initiatives. It will have an accelerator program with a dedicated physical studio for metaverse technology to encourage the development of a venture-building and creator community. The accelerator program will launch soon, attract more than 500 applicants, and identify 50 graduates. It will also facilitate partnerships with startups and corporates to create proofs-of-concept and innovative metaverse solutions.
As per the DIFC, it will support metaverse startups and help them explore, gain exposure to investors, access a regulatory sandbox, and obtain marketing guidance.
Arif Amiri, the chief executive of the DIFC authority, stated that developing the integrated DIFC metaverse platform would empower the achievements of Dubai. The DIFC initiative is a natural extension of Dubai’s Innovation Hub proposition.
The DIFC metaverse platform will also address policy development in the metaverse sector, legislation on open data, company law frameworks, and digital identity in the metaverse.
According to Omar bin Sultan Al Olama, the minister of State for Artificial Intelligence, Digital Economy, and Remote Work Applications, the UAE is adopting advanced technologies to keep up with global changes.