Metaverse Platform announced by Dubai International Financial Centre – Insurance


Metaverse Platform

The Dubai Higher Committee for Future Technological and Digital Economy’s goal is to draw in technology innovators from all over the world, and today the Dubai International Financial Center (DIFC) announced the establishment of the “DIFC Metaverse Platform.”

The platform is a component of a comprehensive plan being created by Dubai International Financial Centre, the top international financial hub in the Middle East, Africa, and South Asia (MEASA) region, to strengthen Dubai’s position as a leader in the global metaverse.

The Dubai Metaverse Strategy, which intends to support 40,000 virtual employment by 2030, add $4 billion to Dubai’s GDP, and draw 1,000 firms specialising in blockchain and metaverse technologies, is in line with the DIFC Metaverse Platform.

The platform also complements the recently unveiled Dubai Economic Agenda D33’s goal of generating AED 100 billion in economic value per year via digital transformation.

His Excellency Omar Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy, and Remote Work Applications, Chairman of the Dubai Chamber of Digital Economy, Vice Chairman of the Dubai Higher Committee for Future Technology, and Commentator on the Announcement, said that the UAE adopts advanced technologies in its aim to keep pace with global changes, reflecting the directives of its leadership, in transforming the nation and Dubai.

H.E. Al Olama noted that this Metaverse platform is the first in a line of efforts that will work to reinforce Dubai’s position as a leading global hub for cutting-edge digital trends and quicken the pace at which the Dubai Metaverse Strategy’s goals can be attained.

The Dubai government has demonstrated excellent vision in developing a metaverse plan with the aim of making the emirate a global centre for technology and innovation, according to Arif Amiri, CEO of DIFC Authority.

The advancement of Dubai’s goals in this area will be accelerated by the creation of the integrated DIFC Metaverse Platform.

The programme is a logical extension of our Innovation Hub concept, which has helped to influence the technological and innovative landscape across the Middle East, Africa, and South Asia region.

Three major projects make up the DIFC Metaverse Platform. The first is an accelerator programme with a physical studio devoted to metaverse technology that will support the growth of an entrepreneurial community and creators.

The platform will also deal with metaverse policy creation and legislation pertaining to open data, digital identification, and corporate law frameworks.

Additionally, the programme will support the growth of a metaverse community that will look into methods to improve users’ experiences in the metaverse.

Applications will begin being accepted this month for the Metaverse Accelerator Program, the first project to be launched under the platform’s auspices.

The program’s goals for the upcoming years are to draw more than 500 applicants, select 50 of the most potential programme graduates, and foster investment opportunities that will support the sector’s expansion.

By connecting innovative metaverse start-ups with the biggest players in the area, the programme exemplifies D IFC’s dedication to supporting such businesses.

The programme also assists them in exploring collaborations, meeting investors, gaining access to a regulatory sandbox, and receiving marketing assistance.

Early in November, DIFC FinTech Hive, the region’s first and largest FinTech Accelerator, held its annual Investor Day on the Metaverse Platform, offering the area’s financial ecosystem a firsthand look at the technology.

More than 100 applications from all around the world applied to the DIFC Fintech Hive’s own Metaverse Accelerator programme, which was launched in collaboration with Emirates NBD.

Six months will pass throughout the six-month Metaverse Accelerator Programme, during which the cohort of start-ups will be exposed to workshops and training to improve their technical and intrapersonal metaverse skills.

In order to develop proofs-of-concept and fresh metaverse solutions, the programme also intends to foster partnerships between start-ups and corporations.


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