Dubai enters metaverse
Previously, several companies entering the virtual world
These times, technology development massively spread to many aspects in social life
Not only in the entertainment industry, but many other industry also join the development of technology
Including the government.
Indonesian government already take a place in the metaverse previously,
And now, time to Dubai to step forward to the next level of the world
Dubai’s virtual asset regulator plans to open HQ in metaverse
The move came less than two months after Sheikh Mohammed bin Rashid Al Maktoum established VARA
Formerly, he also announced a new legal framework for crypto in Dubai.
The Dubai Virtual Asset Regulatory Authority, or VARA, has purchased land in the virtual reality world The Sandbox (SAND)
It is as part of its plans to set up a metaverse headquarters.
VARA said that this is a good chance to join the development
The metaverse entry is aim to facilitating “collaborative engagement”
Between virtual asset service providers, international regulatory authorities, and industry leaders.
In addition, the Dubai regulator said establishing its “MetaHQ” office can be the media to help reaching the “younger licensees” entering the virtual world.
Sheikh Mohammed bin Rashid Al Maktoum, prime minister and ruler of the United Arab Emirates added;
“By expanding VARA’s resources to a borderless audience through the Metaverse, Dubai is creating a prototype Decentralised Regulator Model, inviting international thought leaders — global authorities, governance custodians and industry shapers — to participate, exchange knowledge and problem-solve collectively so that we enable the dynamic virtual assets sector to build economic resilience, accelerate social inclusion and address environmental sustainability,”
Moreover, Helal Saeed Almarri, director-general of the Dubai World Trade Centre Authority explains that;
Joining metaverse is the symbol of believing the sector.
- Read also: Metaverse And Crypto, Can They Be Separated?