The Metaverse is rapidly expanding as more nations and regions attempt to integrate this technology into their economy. Dubai is one of the cities in the Middle East that uses metaverse in many facets of daily life. A prime example of this is the Dubai Metaverse Strategy, which aspires to make Dubai both one of the top 10 metaverse economies and a major center for the metaverse community. The plan supports Dubai’s goal of creating more than 40,000 virtual employment by 2030, which would help the city’s economy and advance the UAE government’s goal of tripling the number of blockchain companies currently operating there.
According to The National News, the Dubai International Financial Centre (DIFC) FinTech Hive, the largest financial technology hub in the Middle East, Africa, and South Asia region, and powered by technology provider Microsoft, has all joined forces to launch a global accelerator program for metaverse start-ups to improve the customer experience for the new virtual economy.
In line with the success of the Dubai Metaverse Strategy, which attracted more than 1,000 firms in the disciplines of blockchain and metaverse, this will be Emirates NBD’s first attempt into the metaverse. The accelerator program places the bank as a leader in the next stage of banking innovation as claimed by GDN News.
The accelerator program will conclude with a demo day at the Gulf Information Technology Exhibition in Dubai, where the selected applicants will present their concepts for generating compelling client experiences. according to The National News.
“In the metaverse, where physical and digital worlds come together to create an entirely new platform layer, we have an exciting opportunity to create transformative solutions that completely revolutionize the journeys and experiences of consumers.”Naim Yazbeck, General Manager at Microsoft, via The National News
With the importance of the metaverse, Emirates NBD is now on the lookout for leading FinTechs, digital experience start-ups, and emerging technology players operating across the metaverse landscape according to GDN News. Over this 10-week acceleration program, the DIFC FinTech Hive will evaluate and match Emirates NBD with leading start-ups offering new experiences and technology required for the metaverse.