The United Arab Emirates (UAE) has significantly increased its use of blockchain and Web3 technologies. In a fresh uproar, the UAE Ministry of Economy has announced the possibility of building a headquarters in the metaverse earlier this week. Alongside Abu Dhabi and Dubai, the ministry has called its metaverse the country''s "third address."
While Marri visited the virtual office with extensive interiors, the decked-up virtual auditorium was perfect for event and meetings. Guests will be able to interact with the office as avatars and sign legally binding documents, eliminating the need for signators to visit one of their physical locations only for signatures.
According to Khalifa Al Jaziri, each floor can serve different purposes. A visitor will receive a virtual ticket/ token and a message will be sent to our customer happiness centre to allow the visitor to enter our office in metaverse.
According to a Nasdaq report, the metaverse will gain $800 billion (roughly Rs. 59,58,719 crore) by 2024.
The UAE has arranged a tlethora of ambitious projects that are set to appear in the metaverse.
Emirates Airlines has announced their entry into the metaverse and non-fungible token (NFT) sectors in April.
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In May, Dubai''s recently established Virtual Assets Regulatory Authority (VARA) began work on its metaverse presence. VARA, a partner in The Sandbox, has disclosed plans of establishing a virtual headquarter in the digital world. This VARA office in The Sandbox is called MetaHQ.
Back in July, the UAE had announced plans to establish the world''s first metaverse hospital, in which patients will be able to submit for virtual consultations under the forme of avatars.