From an industry with a market value of $38.5 billion in 2021, the metaverse market is expected to grow at a CAGR of 39.4%. This growth is likely to happen in the next 8 to 10 years. With the vast potential to grow and make businesses adopting this technology stand out, the metaverse is revolutionary. Especially when it comes to large-scale companies, they make the metaverse an anchor to further grow their businesses. Let’s explore more about this technology and industry with a unique study of how Dubai is leveraging the metaverse.
Dubai Is At The Forefront Of Adopting The Metaverse Technology
In recent years, Dubai’s government and high-tech community have focused on integrating metaverse into their economy. Dubai’s government is bringing reforms, innovation, and infrastructure to attract firms and projects. This will help Dubai become a modern technology hub and a metaverse-first destination.
This year, Dubai launched a metaverse strategy to boost regional and global economies. In its strategy, Dubai is already claiming the seat of Global Capital of Web3.0 with the help of its work in the metaverse and blockchain space.
Dubai’s work to integrate this technology into the country’s economic and technological fabric has already attracted big names like Kraken, FTX, and Binance to set up shops in the country. In addition, more than 1000 companies are already harnessing Dubai’s pro-metaverse infrastructure to forward their services.
With these strategies and planning, Dubai will eventually become a hub for the metaverse space. To prepare for the same, the Dubai Metaverse Strategy plans to make the metaverse a $4 billion economy and stake 0.5% of its GDP. In addition, the Dubai World Trade Center (DWTC) is a regional strategic area dedicated to virtual assets.
Through DWTC, Dubai hopes to create a symbiotic relationship between blockchain, metaverse, and related technologies. Seeing its potential as the game-changer for almost every industry, Dubai is well ahead in leveraging the metaverse and its benefits. For example, the recently concluded one-of-its-kind Dubai Metaverse Assembly hosted more than 300 global experts and 40 organizations working in the metaverse and virtual world systems.
Introducing EXGOLAND | Helping Businesses Enter The Metaverse Space
EXGOLAND is a metaverse enabler for businesses allowing them to set up their operations in the virtual world. Operating with the EXGO tokens, businesses can buy land in the EXGOLAND metaverse and set up operations here. They have three types of land sizes which can also be combined to create plots of larger sizes. In EXGOLAND, businesses can operate similarly to a physical shop.
They can sell products or services from their business establishments and leverage the duplicate avatar feature to create authenticity. Moreover, EXGOLAND will become an integral part of Dubai’s metaverse strategy. It will allow businesses to find an easy route into the metaverse space.
EXGOLAND is built on the Solana blockchain and has excellent potential. Solana brings great speed to the platform and lower gas fees, benefiting the users and customers.
The vision of EXGOLAND is to become one of the leaders in the metaverse industry. Their team is on a mission to provide entrepreneurs and business owners to build, own, and operate businesses in the metaverse.
To make it easier for businesses to buy land, EXGOLAND allows users to purchase land with EXGO tokens and credit cards. Moreover, the entire platform is built with excellent graphics and an intuitive user interface. There are stringent verification processes enabled to provide high security. Businesses can host events and parties to attract customers and use ready-to-install games.
The entire ecosystem of EXGOLAND is built to help businesses run their operations smoothly. Since the metaverse is a new technology for almost every industry, EXGOLAND has added the necessary features to make the business owner’s journey easier.
Source : cryptodaily