Dubai Metaverse Assembly: Recap of Day 1

Published September 28th, 2022 - 11:25 GMT
Dubai Metaverse Assembly: Recap of Day 1
Day 1 of the Dubai Metaverse Assembly. (Twitter: @drmarwan)

Inviting more than 300 tech experts from all around the world, the UAE is organizing a 2-day event to discuss the many prospects and future opportunities that can be seized as a result of the Metaverse.

The Dubai Metaverse Assembly held on the 28 and 29 of September 2022 at the newly opened Museum of the Future was announced by the Crown Prince of Dubai Hamdan bin Mohammed Al Maktoum last July, in cooperation with the Dubai Future Foundation.

Prior to the Dubai Metaverse Assembly, Dubai announced its "Metaverse strategy" which sets the Emirate's goals for making optimal use of the latest set of technologies such as the Metaverse and blockchain to generate billions worth of profit within Dubai's economy.

The strategy also aims to create more than 40,000 professional jobs in Dubai, attracting some of the best talents in the world to Dubai.

The UAE's determination to welcome Metaverse elements was clear last March when the UAE was the world's first country to host an international summit in the Metaverse, organizing the Investopia Investment Summit as part of the World Government Summit, which was part of the 6-month Dubai Expo 2020.

Organizing the Dubai Metaverse Assembly is yet another step of Dubai's larger plan of positioning the Emirate on the world's map of Metaverse pioneers, not to mention its effort to be ahead of the region's countries when it comes to exploring the Metaverse and its various applications.

In addition to examining the many ways that the Metaverse can maximize success in each business sector, which can eventually contribute to economic growth at an unprecedented level, speakers are expected to discuss what infrastructure and technological tools are needed to facilitate Dubai's integration in a world where the Metaverse is an integral part.

During a talk titled ‘Unlocking Dubai’s Potential: The Metaverse Strategy’, Omar bin Sultan Al Olama, Minister of State for Artificial Intelligence talked about the economic potential that the UAE can unlock by introducing Metaverse elements into tourism, education, government services, retail, and real estate.

He also added the UAE's "economic success will now be measured using Gross Metaverse Product (GMP) instead of Gross Domestic Product (GDP)", supporting hopes for the UAE's pioneering position in terms of regional access to Metaverse, which can help by stationing it as a MENA hub for the Metaverse.

The Dubai Metaverse Assembly - Day 1

After welcoming remarks by keynote speakers including strategists behind the Dubai Metaverse Assembly, participants attended a number of workshops, each lasting between 10 - 40 minutes, focusing on;

Dubai Metaverse Assembly

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1- Metaverse and the Economy: What is the size of the Opportunity?

2- Metaverse 101: Unraveling the Metaverse and Its Future

3- Sector Deep-Dive: Opportunities in Virtual Real Estate

4- Making Trade Flow: How the Metaverse Will Enable People and Operations

5- Maximizing the Potential of Ecosystems on the Metaverse

6- The Dubai Metaverse Strategy: Unlocking Dubai’s Potential

7- Building the Responsible Metaverse

8- Augmented Reality: Revolutionizing the Conventional

Side Sessions (invitations only)

1- Value Creation in the Metaverse, Working Group Meeting (organized with the World Economic Forum)

2- Accelerating Value Creation in the Metaverse (organized with Accenture)

3- Aviation in Metaverse: Interoperability and Reality Gradient (organized with Emirates Airlines)

4- Road to the Metaverse: Innovating Governance (organized with Meta and Economist Impact)

5- Decoding Metaverse and Beyond (organized with Asiarath)

6- Taking the Leap from Web2 into the Metaverse (organized with Outlier Ventures)

7- Live Demos in Web 3.0 and the Metaverse (organized with Sia Partners)


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