According to reports, Dubai plans to set up some government offices in the metaverse. Presently, it is looking for third-party developers to arrange these departments’ transitions.
Cybergear’s Chief Metaverse Officer, Sharad Agarwal, also believes the metaverse has huge potential. He specifically talked about the real estate industry, which is currently growing in the digital world.
Dubai To Take Government Operations To The Digital World
Dubai has been a major supporter of the metaverse since its inception. Reports say that the country wants to establish some government departments in the digital world.
This development would enable these departments to carry out their operations in the metaverse. Furthermore, the country has been working to position itself in the upcoming technology.
Sharad Agarwal, Chief Officer at Dubai-based company, Cybergear, talked about the metaverse at a recent event. Agarwal stated that:
“Several government ministries and departments have been sending requests to us about the metaverse. They want to make their operations metaverse-based. In a short time, Dubai will become a metaverse and crypto hub globally.”
However, he stated that these constructions would take time. Also, it would take a while before the functions are fully established.
Additionally, Agarwal said this would require a lot of hard work and commitment to achieve. Hence, government establishments must know the services they want to provide and the model to use.
Countries Betting Big On The Metaverse
Dubai is among the various nations that have invested greatly in the metaverse concept. The country even created a group called the Dubai Metaverse Strategy.
The aim is to ensure the metaverse contributes 1% to the country’s GDP for 2030. Additionally, it also plans to create 42k virtual jobs in 2030.
Apart from Dubai, other countries are gearing up for the metaverse idea. For example, South Korea is also working on developing its metaverse industry.
Recently, the South Korean government allocated over $177 million to develop the metaverse. However, not everyone sees the potential of the metaverse.
Agarwal, while speaking, talked about the real estate industry in the metaverse. He noted that:
“The real estate market in Dubai is very big. In the future, many individuals can move to a community and assess the villas there. Also, they would be able to configure and remodel the interior and exterior decoration to their taste. Once they are okay with it, that make payment digitally.”