The Metaverse: Dubai Set to Be the World's First Virtual City in Global Metaverse Launch - GlobeNewswire

September 13, 2022 10:15 ET | Source: Metarverse Holdings Inc. Metarverse Holdings Inc.
San Francisco, California, UNITED STATES
SAN FRANCISCO, Sept. 13, 2022 (GLOBE NEWSWIRE) — Delaware incorporated Metarverse Holdings, an advanced Web3 technology company, has officially announced that Dubai will become the world’s first virtual city and a global center for digital innovation in their global metaverse rollout. The launch of Dubai in their metaverse marks an important step forward in renowned tech entrepreneur Priven Reddy’s “immersive metaverse mission” to build a sustainable digital future for all.
The Emirates will be the first “utilized” hub within the virtual world that replicates real-life experiences and places. Their virtual environment will match authentic real-life events and locations, with a Beta version expected to go live in the fourth quarter of 2022 and become available globally shortly thereafter.
The first of several hyper-realistic virtual cities, Dubai will provide a wide range of attractions, offerings, and possibilities that will make you feel as though you are actually there.
The Dubai metaverse will include everything from universities and events to shopping malls and business districts. Together with Metarverse Holdings, Dubai is establishing a case for itself as a cutting-edge virtual metropolis. Not only will the city offer an engaging and realistic experience, but it also has the potential to be a vital conduit of communication and international collaboration in the future.
The new platform through various partnerships is introducing a comprehensive, real-world, utility-based metaverse with full multi-device interoperability. It is meant to stream swiftly, in contrast to current virtual reality applications that build small-scale, digital fantasy worlds. Users can find synergy between their needs and the platform that encompasses web3 blockchain technology. This will include functionality to browse and shop from the biggest retail brands and stores, buy advertising space in the virtual city, attend simulated lectures, along with the ability to apply for residency visas, business licenses, and more.
“After carefully examining other leading regions, the decision was made for Dubai and Abu Dhabi to be the very first simulated cities within our new high-end metaverse,” stated Priven Reddy, the founder of Metarverse Holdings, who is one of the leading global innovators in VR, XR, and Web3.
“This is going to solve a huge problem in the web3 space, and we are fully committed to delivering a world-class platform,” says Reddy.
Meanwhile, Metarverse Holdings is committing $54 million to the project for the current and future development of the platform. Their goal is to create a safe metaverse where everyone can feel at home and connect with one another in an online environment. In order to make this possible, they are now on the ground in Dubai and working with various stakeholders to develop partnerships and deploy innovative technologies that will make the online experience more interactive and truly engaging, which is second to none.
Karyn Naidoo from Zengary, strategic consultant to Metarverse Holdings, said, “Following the upcoming launch of the Beta version, we will release more key locations across the emirates with a focus on creating virtual spaces that are visually, topographically, and geometrically scaled to recreate the most realistic feeling in the Dubai and Abu Dhabi metaverse, with space for endless, interconnected virtual communities using virtual reality headsets, augmented reality glasses, smartphone apps, and other devices. We are further exploring New York – USA, London – UK, Doha – Qatar, and Riyadh – Saudi Arabia, as potential candidates for our next virtual cities soon after the UAE launch.”
As the UAE government is also going all out to advance the adoption of blockchain technology, digital assets, and the metaverse across the region, Afdal Baig, strategy partner at Metarverse Holdings, believes that this platform will link the mission of the government with the opportunity to utilize the key focus areas of real estate, education, tourist attractions, retail, government services, healthcare and professional services.
“We are making great strides in creating an international virtual community that seamlessly works together. We believe that our technology can help shape the future of society as we know it. We’re passionate about helping launch a movement that will transcend how we live today by creating and exhibiting global cities at their finest,” commented Baig.
In order to make the most of this opportunity, businesses globally will now have the opportunity to invest in Dubai’s Virtual City, which offers many benefits for entrepreneurs and the global society as a whole. Metarverse Holdings intends to empower businesses to reach new heights and create even greater value for their customers, delivering heightened interactive experiences and offerings for all end users. “We are partnering with some of the best brands and institutions to deliver something really special, unlike anything seen before in the web3 space,” says Priven Reddy.
The future looks promising and the move to web3 is certainly going to be a remarkable period in our history. For now, it’s all systems go as the journey to build the next frontier of the digital realm is currently underway. These are exciting times ahead as the platform is set for a closed beta launch in late October 2022.
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