Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Board of Trustees of the Dubai Future Foundation (DFF), Tuesday announced the launch of the Dubai Metaverse Assembly, which will be organized on September 28 and 29 at the Museum of the Future and Emirates Towers.
It is a global event bringing together regional and international experts in Dubai to shape the future of the metaverse and explore its promise and potential applications.
It will explore how the technology can be deployed across vital sectors to create a better future and quality of life for humanity.
The assembly will host more than 300 global experts, policymakers, thought leaders, and decision-makers from more than 40 organizations.
Delegates will participate in sessions and workshops to analyze the metaverse, understand its impact on humanity, discuss the potential of humanizing its applications.
Also, it would identify the best ways to leverage opportunities across strategic sectors of countries, governments, and companies.
Estimates of the value of the metaverse market globally vary between $10 trillion and $30 trillion within 15 years, underscoring the massive potential of the new platform.
Sheikh Hamdan said, “The metaverse is a promising digital world. We aim to harness this technology to enhance the quality of life in the UAE and across the globe.”
The announcement of the Dubai Metaverse Assembly follows the launch of the Dubai Metaverse Strategy.
It aims to position Dubai as one of the leading cities globally by investing in promising economic opportunities, adopting and deploying metaverse technology.
This includes developing digital infrastructure that supports global transformations and the digital economy.
The assembly’s program includes three main tracks – Educate, Inspire, and Contribute – based on Dubai’s philosophy for designing a better future for humanity.
The Educate track will consist of more than 10 in-depth sessions on the metaverse.
Presented by several partners, the Inspire track will showcase use-cases of the metaverse in tourism, logistics, retail, education, and healthcare sectors.
The Contribute track will include workshops for metaverse foresight and use-case reviews.
The Dubai Metaverse Assembly will host various activities such as panel discussions and specialized workshops for major companies and organizations to generate tangible outcomes.
The assembly will also be a platform for thought leaders to share their vision of the future, considering the infinite opportunities and unprecedented solutions offered by the metaverse.
Reports estimate expenditure on virtual products in the metaverse reached $54 billion in 2020, whereas, in 2021, just the NFT or non-fungible tokens market amounted to nearly $41 billion.
The Dubai Metaverse Strategy is the first initiative of the higher committee formed under the directives of Sheikh Hamdan during the fifth meeting of the Dubai Council in May 2022.