The Dubai International Financial Centre (DIFC), widely regarded as the leading financial hub in the Middle East, Africa, and South Asia, has entered the metaverse.
As part of its Web3 entry, DIFC will establish a platform dubbed “DIFC Metaverse Platform” that will focus on three major initiatives.
The first seeks to encourage innovative metaverse startups by launching an accelerator program that will financially support them as well as help them gain exposure to investors and partners. The program will last six months and will begin accepting applications this month.
Additionally, the metaverse platform will help develop policies and legislation surrounding open data, digital identification, and company legal frameworks in the metaverse.
In terms of the third endeavor, the platform intends to create a metaverse community that will work together to improve the metaverse experiences for consumers.
The DIFC Metaverse Platform’s launch is part of Dubai’s metaverse strategy, which intends to create 40,000 new jobs in the virtual world while also generating $500 million in revenue for the national economy.
In this regard — and in its ambition to become a global Web3 leader — Dubai has already been the site of several projects; Dubai Airport Freezone (DAFZ) has entered the metaverse with the launch of METADAFZ, while Dubai Police has already released two NFT collections.