DIFC Metaverse Platform

DIFC Metaverse Platform strengthens Dubai’s status

DIFC announces the launch of ‘DIFC Metaverse Platform’. The DIFC Metaverse Platform is in line with the Dubai Metaverse Strategy, which aims to add $4 billion to Dubai’s GDP, support 40,000 virtual jobs by 2030 and attract 1,000 blockchain and metaverse technology companies. The platform also supports the goal of the recently launched Dubai Economic Programme D33 to create Dh100 billion a year in economic value through digital transformation.

The DIFC Metaverse Platform comprises three key initiatives. The first is an accelerator programme with a dedicated physical studio for metaverse technologies that will foster a community of creators and the creation of venture capital projects. The platform will also develop metaverse policy and legislation on open data, digital identity and a framework for legislation on companies in the metaverse. In addition, the initiative will foster a metaverse community that will explore ways to improve the metaverse experience for customers.

The Metaverse Accelerator Programme, the first initiative launched under the platform’s umbrella, will begin accepting applications this month. The programme plans to attract more than 500 applications over the coming years, identify the 50 most promising graduates of the programme and stimulate investment opportunities that will help grow the sector.

The programme demonstrates DIFC’s commitment to supporting innovative metaverse start-ups by introducing them to the region’s biggest players. The programme also helps them explore partnership opportunities, gain access to investors, gain access to a regulatory sandbox and marketing support.

In early November, the region’s first and largest FinTech accelerator, DIFC FinTech Hive, held its annual Investor Day on the Metaverse platform, providing the region’s financial ecosystem with first-hand exposure to the technology. DIFC Fintech Hive also partnered with Emirates NBD to launch and co-create its own Metaverse Accelerator programme, with over 100 participants applying from around the world.

The Metaverse Accelerator programme will run for six months, during which a group of start-ups will receive training and workshops to upgrade their skills and retrain in the technical and intrapersonal aspects of metaverse. The programme also aims to facilitate partnerships between start-ups and corporations to create trial concepts and new metaverse solutions.

For more information, please visit: Metaverse Accelerator Programme (difc.ae)

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