Friday, September 29, 2023
manilastandard.net
ADVERTISEMENT
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
    • Young Life
  • Special Pages
    • Pets
    • Tech
      • Gadgets
      • Computers
      • Business
      • Tech Plus
    • On the Road
      • Sedan
      • SUV
      • Truck
      • Bike
      • Accessories
      • Motoring Plus
      • Commuter’s Corner
    • Home & Design
      • Residential
      • Commercial
      • Construction
      • Interior
    • Spotlight
    • Cravings
    • Environment & Sustainability
    • Agriculture
    • Pop.Life
      • Newsmakers
      • Hangouts
      • A-Pop
      • Post Its
      • Performances
      • Malls & Bazaars
      • Hobbies & Collections
    • Events
      • Seminars
      • Exhibits
      • Community
    • Biyahero
      • Travel Features
      • Travel Reels
      • Travel Logs
    • Gallery
      • Photos
      • Videos
  • Advertise with Us
No Result
View All Result
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
    • Young Life
  • Special Pages
    • Pets
    • Tech
      • Gadgets
      • Computers
      • Business
      • Tech Plus
    • On the Road
      • Sedan
      • SUV
      • Truck
      • Bike
      • Accessories
      • Motoring Plus
      • Commuter’s Corner
    • Home & Design
      • Residential
      • Commercial
      • Construction
      • Interior
    • Spotlight
    • Cravings
    • Environment & Sustainability
    • Agriculture
    • Pop.Life
      • Newsmakers
      • Hangouts
      • A-Pop
      • Post Its
      • Performances
      • Malls & Bazaars
      • Hobbies & Collections
    • Events
      • Seminars
      • Exhibits
      • Community
    • Biyahero
      • Travel Features
      • Travel Reels
      • Travel Logs
    • Gallery
      • Photos
      • Videos
  • Advertise with Us
No Result
View All Result
manilastandard.net
No Result
View All Result
Home Business Biz Plus

UAE to set up ministry in the metaverse

AFPbyAFP
October 3, 2022, 8:05 pm
in Biz Plus, Business
Reading Time: 4 mins read
A A
Share on FacebookShare on TwitterShare on Email

Dubai, United Arab Emirates—The United Arab Emirates, which already boasts the world’s tallest skyscraper and has launched a bold Mars mission, now hopes to become a pioneer in the depths of the metaverse.

In a project launched at Dubai’s gleaming Museum of the Future, it announced that the UAE’s economy ministry was setting up shop inside the immersive virtual world that is now taking shape.

Those who don their virtual reality goggles or use other means to venture within will find a ministry open for business with companies and even ready to sign bilateral agreements with foreign governments, officials said.

A file photo taken on June 20, 2022 shows a view of the Museum of the Future in the Gulf emirate of Dubai. The UAE has unveiled its first ministry in the Metaverse and a virtual trip to Mars as Dubai attempts to become a hub for the immersive world, which remains in its infancy but is attracting growing interest. AFP

The metaverse is an online world where users will eventually be able to game, work and study, its proponents say—although it is still in a “test” phase, the UAE’s economy minister conceded.

Abdulla bin Touq Al Marri was speaking at the inaugural Dubai Metaverse Assembly, held at the museum whose innovative ring shape decorated with Arabic calligraphy flanks the city’s main thoroughfare.

Representatives of tech giants mingled with entrepreneurs and developers exploring the potential of the metaverse, a network of digital spaces intended as an extension of the physical world.

“In the last couple of years we’ve seen investments, we’ve seen companies move in, and with the changes of the [visa] regime… we see talent coming in,” Al Marri told AFP in an interview.

“We trained our employees to really immerse themselves in the metaverse, use the metaverse and engage with the Generation Z that is going to come,” he added.

The UAE, which has a history of bold projects including the 830-meter (2,723-foot) Burj Khalifa, hopes the metaverse can add $4 billion to annual GDP and 40,000 jobs to its workforce by 2030.

In its bid to become one of the world’s top-10 metaverse economies, Dubai wants to attract 1,000 companies specialising in blockchain and related technologies, helped by eased visa rules for freelancers, entrepreneurs and creatives.

As the coronavirus pandemic pushed more people into the online world, “Covid really accelerated” the trend, Al Marri added.

“We thought the metaverse is a phase technology” that might take 10 to 20 years to emerge,” he said. “Covid-19 really immersed us so fast and expedited the use of the metaverse.”

Virtual Mars trips

Unlike the UAE’s oil-rich capital, Abu Dhabi, crude represents just five percent of Dubai’s economy which has pivoted towards business, tourism, real estate and new technologies.

The UAE has already introduced a law governing virtual assets and a regulatory body for cryptocurrencies, while welcoming major crypto exchange platforms.

One of the UAE’s early private-sector metaverse projects is called 2117, named after the dream of Dubai’s ruler Sheikh Mohammed bin Rashid to colonise Mars a century from now.

Metaverse users can now buy tickets to join a virtual shuttle carrying settlers to the red planet.

“A lot of us won’t live long enough to see this mission with our own eyes,” said Amin Al Zarouni, founder of the Bedu start-up behind the virtual Mars trip.

“We’ll try to replicate this experience in the metaverse.”

Until now, use of the metaverse is niche and even its architects say widespread adoption is years away. How it will develop is unknown.

According to Meta, which owns Facebook and other social media titans, Analysis Group research has shown that the metaverse could add $360 billion to GDP in the Middle East, North Africa and Turkey in 10 years, if it follows the growth pattern of mobile technology.

“We also know that when policy supports innovation, it accelerates the adoption of new technologies,” the company said, when asked about Dubai’s prospects of becoming a metaverse hub.

“If we look at the context of Dubai, there’s already a clear strategy and goals to accelerate metaverse adoption and investments in the building blocks of the metaverse.”

Tags: DubaimetaverseMuseum of the FutureUAEUnited Arab Emirates
ADVERTISEMENT
AFP

AFP

Related Posts

Cebu Pacific eyes Boeing planes as Airbus engine issue affects fleet

byDarwin G. Amojelar
September 28, 2023, 7:35 pm
0
8
No-hassle travel hacks with budget-friendly accommodation

Cebu Air Inc., the operator of low-cost carrier Cebu Pacific, said Thursday it plans to purchase narrow-body aircraft from US...

Read more

PH improves 3 spots to rank 56th in global innovation index

byOthel V. Campos
September 28, 2023, 7:30 pm
0
8
PH ranks 9th globally in IP innovation ranking

The Philippines climbed three spots to rank 56th in the Global Innovation Index (GII) 2023 out of 132 economies included...

Read more

Foreign tourists reached nearly 4m as of Sept. 27 in line with 2024 goal

byOthel V. Campos
September 28, 2023, 7:25 pm
0
8
CONCEPCION INDUSTRIAL CORPORATION: Notice of the Annual Stockholders’ Meeting

Department of Tourism (DOT) Secretary Christina Frasco said Thursday international visitor arrivals reached 3.97 million as of Sept. 27, representing...

Read more

SEC streamlines disclosure requirements

byJenniffer B. Austria
September 28, 2023, 7:20 pm
0
8
SEC files charges against four firms soliciting investments

The Securities and Exchange Commission (SEC) eased the disclosure requirements for companies seeking to raise funds through the capital market....

Read more

Vivant unit signs contract with Bataan solar developer

byAlena Mae S. Flores
September 28, 2023, 7:15 pm
0
8
Vivant unit signs contract with Bataan solar developer

COREnergy Inc., a wholly-owned subsidiary of Vivant Energy Corp., signed a 20-year power supply agreement with Samal Solar Renewable Energy...

Read more

Stocks extend advance on bargain hunting

byJenniffer B. Austria
September 28, 2023, 7:10 pm
0
8
Stock market surges; PLDT, Globe advance

Philippines stocks extended its climbed to sixth consecutive trading day on continued bargain hunting and foreign buying. The Philippine Stock...

Read more

Print Edition

View More

Recent Posts

  • House okays P5.768-t post-pandemic budget
  • ‘OVP intel funds invalid but not impeachment ground’
  • Q3 pro-admin sentiment down to 43%—survey
  • Congress passes several crucial priority measures
  • Marcos, Macron tackle WPS security issues, bilateral ties
  • Socorro ‘cult’ leader held in contempt
  • P3.6-b shabu seized in Pampanga
  • Meta putting AI in smart glasses

Advertisement

Latest News

Socorro ‘cult’ leader held in contempt

byMacon Ramos-Araneta
September 29, 2023, 12:45 am
0
8
Marcos, Macron tackle WPS security issues, bilateral ties

A Senate committee on Thursday cited Socorro Bayanihan Services Inc. (SBSI) leader Jey Rence Quilario, also known as Senior Agila,...

Read more

P3.6-b shabu seized in Pampanga

byRey E. Requejoand1 others
September 29, 2023, 12:40 am
0
8
Southwoods nails Seniors’ Fil golf crown

Law enforcement agencies have seized P3.6 billion worth of methamphetamine hydrochloride or "shabu" in a warehouse in Mexico City, Pampanga,...

Read more

Meta putting AI in smart glasses

byAFP
September 29, 2023, 12:35 am
0
8
Facebook-parent Meta appeals UK ruling on Giphy tie-up

Meta chief Mark Zuckerberg on Wednesday said the tech giant is putting artificial intelligence into digital assistants and smart glasses...

Read more

Ateneo remains top PH school in global rankings

byGabriellea B. Pariño
September 29, 2023, 12:30 am
0
8
Ateneo rated as country’s top learning institution

The Ateneo de Manila University remained the top school in the Philippines, according to the latest global rankings published by...

Read more

MTRCB upholds 12-day suspension of ‘It’s Showtime’

byNickie Wang
September 29, 2023, 12:23 am
0
8
MTRCB says it needs to ‘widen’ its jurisdiction of video streaming

The Movie and Television Review and Classification Board upheld its decision to suspend the noontime show “It’s Showtime” for 12...

Read more

Advertisement

ADVERTISEMENT
Facebook Twitter Instagram Youtube

ABOUT US

Manila Standard

Manila Standard website (manilastandard.net), launched in August 2002, extends the newspaper’s reach beyond its traditional readers and makes its brand of Philippine news and opinion available to a much wider and geographically diverse readership here and overseas.

Digital Edition

In tone and content, the online edition mirrors the editorial thrust of the newspaper. While hewing to the traditional precepts of fairness and objectivity, MS believes the news of the day need not be staid, overly long or dry. Stories are succinct, readable and written in a lively style that has become a hallmark of the newspaper.

Download – Today’s Paper

Search

No Result
View All Result

6th Floor Universal Re Bldg., 106 Paseo De Roxas cor. Perea Street, Legaspi Village, 1226 Makati City Philippines

Trunklines: 832-5554, 832-5556, 832-5558

© 2021 Manila Standard - Designed and Developed by Neitiviti Studios.

No Result
View All Result
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
    • Young Life
  • Pets
  • Tech
    • Gadgets
    • Computers
    • Business
    • Tech Plus
  • ON THE ROAD
    • Sedan
    • SUV
    • Truck
    • Bike
    • Accessories
    • Motoring Plus
    • Commuter’s Corner
  • Home & Design
    • Residential
    • Commercial
    • Construction
    • Interior
  • Spotlight
  • Cravings
  • Environment & Sustainability
  • Agriculture
  • Pop.Life
    • Newsmakers
    • Hangouts
    • A-Pop
    • Post Its
    • Performances
    • Malls & Bazaars
    • Hobbies & Collections
  • Events
    • Seminars
    • Exhibits
    • Community
  • Biyahero
    • Travel Features
    • Travel Reels
    • Travel Logs
  • Gallery
    • Photos
    • Videos
  • Advertise with Us

© 2021 Manila Standard - Designed and Developed by Neitiviti Studios.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Install Manila Standard Web App

Install App