The summit will support education and knowledge sharing, helping boost Dubai’s property market. The event is based around a hyper-realistic “stage” featuring voice and proximity chat systems. Volston developed his idea with funding from RIT Dubai in collaboration with the Mohammed Bin Rashid Smart Learning Program.

Aimed at bringing together global thought leaders and policymakers, Real Estate Worldscape 2023 will host 20 inspirational speakers and offer workshops, panel discussions, and Q&A sessions. Topics at the conference will include real estate, proptech, entrepreneurship and investments.

Explaining the reasoning behind the summit, 21-year-old Volston said, “The inspiration for our virtual stage, Flege, came during the pandemic when we saw the potential of the metaverse in creating an ecosystem where people connect to physical experiences through the virtual world. I decided to focus on the real estate sector to help launch the ecosystem because it is one of the most established industries here, yet it has been slow in the uptake of innovation. I wanted to change the mindset of people in the business, to show the value of bringing technology into the sector”.

The summit will also feature a simulation that takes delegates back to 2012 when Dubai was still recovering from the global financial crisis. Participants will “enter a digital twin of Dubai where their goal is to achieve cashflow by analyzing market trends and making sound decisions to buy and sell properties at the right time and from the right place,” Volston explained.

Also Read: Egypt’s Flat6Labs Picks 24 Startups For Growth Track Program

Volston is already part of Dubai’s Silicon Oasis, with his own office and a team of seven employees. The student entrepreneur says his sights are firmly set on building a decentralized digital ecosystem despite not yet having graduated from RIT Dubai.

The Real Estate Worldscape 2023 will take place later this month.

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Retail group Majid Al Futtaim has taken metaverse retail to its next logical progression, unveiling the “Mall of the Metaverse” in Decentraland to compliment its brick-and-mortar outlet.

Customers will be able to engage with “immersive retail experiences” in the new virtual mall, where various brands, including Carrefour, VOX Cinemas, THAT Concept Store, Ghawali, and Samsung Store, will soon set up for business.

Khalifa bin Braik, CEO of Majid Al Futtaim Asset Management, is confident that the Mall of the Metaverse “will become a prominent retail and entertainment destination for customers who seek digital experiences from their favorite brands.”

Meanwhile, Fatima Zada, the director of Omnichannel and Digital, Majid Al Futtaim Shopping Malls, notes an increase in demand for digital experiences, with his team using “behavioral science and data” to plan a retail future that eclipses simple online shopping.

Also Read: Introducing Bard, Google’s Response To ChatGPT

Dubai has already made significant progress in metaverse development, and last year, the Dubai Mall unveiled a digital version of its Etisalat store. These announcements collectively aid the city’s metaverse strategy, which hopes to create 40,000 jobs and bring $4 billion to the economy over the next five years.

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So far, metaverse developer LandVault has lived up to its name, creating and curating over 100 square feet of virtual space for a diverse range of organizations, including Mastercard, Standard Chartered, World of Women, Hershey’s, and many more.

The Dubai government’s Metaverse Strategy is one of the key reasons LandVault has been inspired to move to the region, as leaders plan to transform the Emirate into one of the world’s top 10 metaverse economies by 2030. Eventually, it’s hoped that in excess of 1,000 companies in the blockchain and web 3.0 spaces will be inspired to set up entities in the region, creating around 40,000 new jobs in the process.

Also Read: Best Music Streaming Services In The Middle East

“We are excited to open our office in Dubai and to be a part of the vibrant tech community in the UAE. The MENA region is a key market for us, and we believe that our presence in Dubai will allow us to assist the region and explore new opportunities. We are also excited about the potential for the metaverse in the real estate industry in the UAE. We look forward to working with developers and real estate companies to showcase their properties in a new and innovative way,” says Sam Huber, CEO of LandVault.

Alongside developing the metaverse from its new Dubai office, LandVault will also deploy its technology to assist the UAE’s real estate sector. Developers will soon be able to showcase their projects in a way that was never previously possible, reaching a much wider audience with immersive and interactive property tours and even virtual showrooms.

The post World’s Largest Metaverse Developer Opens Dubai Office appeared first on Tech Magazine.

“The projections assessed growth in the component technologies, platforms, hardware, and software, as well as the economic contribution of new metaverse applications such as content creation, shopping, and so on,” says Tony G. Karam, partner at Strategy& Middle East.

Out of the seven Emirates, Dubai is emerging as the pre-eminent metaverse economy. Experts predict that the region’s digital strategy will bring a $4 billion boost to GDP, with 40,000 new jobs created in the process. The UAE as a whole has embraced Web3.0 enthusiastically and recently established the first metaverse incubator.

Meanwhile, in Saudi Arabia, NEOM — a $500 billion futuristic metropolis on the Red Sea — will also build a parallel digital version of its cityscape, enabling people to coexist in both the real world and the Metaverse simultaneously.

Also Read: The UAE Has Launched A Program To Assist 100 Startups

“The Metaverse holds a world of possibilities that extends beyond next-generation gaming and internet-based home buying or shopping. It will change how we work, transact, plan, design, build, shop, recreate, travel, and live. In a regional context, the Metaverse’s potential to energize and transform key sectors in the Gulf Cooperation Council (GCC) countries is enormous,” says Dany Karam, partner at Strategy& Middle East.

Breaking down Strategy&’s predicted annual raise in GDP reveals the following figures:

• Saudi Arabia: $7.6 billion
• UAE: $3.3 billion
• Qatar: $1.6 billion
• Kuwait: $ 1 billion
• Oman: $0.8 billion
• Bahrain: $0.4 billion

Although the Metaverse is still relatively unknown to the general public, experts believe that in the near future, a thriving digital tourism sector will emerge, with tours to famous UNESCO World Heritage Sites, concerts, festivals and sports events all having their own digital versions.

The post Metaverse Will Bring $15B Annually To Gulf Economies By 2030 appeared first on Tech Magazine.

O’Leary will travel to Abu Dhabi as an ambassador of the business expansion initiative known as Access Abu Dhabi. The program is supported by the Abu Dhabi Investment Office and acts as a conduit for businesses entering the city’s thriving startup and innovation ecosystem. O’Leary has traveled to Abu Dhabi three times over the last two years and has considerable experience as a Web 3.0 investor.

“It’s a massive honor to have Kevin O’Leary deliver a keynote speech at the first edition of the Middle East Blockchain Awards. He’s a well-respected and renowned personality on an international level, especially for his work with blockchain and crypto. This is a phenomenal start to what we’re sure will become a long-lived series of Awards ceremonies recognizing some of the region’s finest Web 3.0 achievements,” says Bally Singh, Chairman, and Co-Founder of Hoko Group.

Also Read: Abu Dhabi Airports Exploring Options For Air Taxis

The Middle East Blockchain Awards will be supported by GEM Digital Limited, the headline sponsor, with support from the Abu Dhabi Residents Office, Inery Blockchain, and Everdome, the first hyper-realistic metaverse.

As to the ceremony itself, this year’s MEBA will be held in the beautiful Palm Garden of the five-star W Abu Dhabi – Yas Island, on the same weekend as the Formula One races. The black-tie event promises to be a spectacular evening and will be attended by high-profile individuals and a large panel of expert judges.

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Although the metaverse — a blockchain-based virtual world — is still in its early stages of development, it promises to deliver massive potential for millions of users over the coming years, shaking up the entire world’s economy and online culture.

The global market share of the metaverse is thought to have the potential to reach $1.6 trillion by 2030, with tech giants such as Facebook, Google, and Nvidia heavily invested in Web 3.0 development. For that reason, the UAE is already aiming to be a market leader, with over 1,000 metaverse-related companies headquartered in the region.

“From retail shopping to healthcare and manufacturing, the metaverse is becoming pervasive in countless industries. It is transforming industries by expediting virtual operations seamlessly and offering business opportunities for investors,” says Pratik Rawal, Managing Partner, Ascent Partners.

Also Read: Everdome Announces First-Ever Metaverse Soundtrack

Dubai’s strategy aims to funnel $4 billion of the UAE’s GDP into related projects over the next five years, bringing an estimated 40,000 virtual jobs to the metaverse by 2030. Augmented reality and blockchain projects currently bring over $500 million to UAE’s economy, with the Dubai World Trade Center (DWTC) accounting for a sizable portion of that figure.

As the metaverse builds into a thriving, heavily populated augmented-reality world, Dubai and the whole of the UAE will be poised to become the epicenter of this advanced technological revolution, bringing all of the benefits of blockchain, cryptocurrency, and augmented reality to the everyday lives of users worldwide.

The post Dubai Is Set To Become A Metaverse & Blockchain Hub appeared first on Tech Magazine.

The project is called the “Everdome Original Metaverse Soundtrack”. It will give a unique atmosphere and background ambiance to Everdome’s hyper-realistic landscape, which is based on a future Mars settlement, using blockchain and VR technology.

Wojciech Urbański is a gifted composer with a portfolio of award-winning tracks that have been used by the likes of Netflix and Canal+. Wojciech’s Spotify community currently comprises over 600,000 monthly listeners, while overall, his tracks have been played more than 50 million times. The Everdome project hopes to use the composer’s talents to add drama to its hyper-realistic storytelling and visuals.

“Creating a musical illustration of the cosmos and space exploration is probably a dream held by every composer. This collaboration is for me a great artistic opportunity, as the setting of an immersive metaverse world permits the use of a very wide range of sounds and tools,” says Wojciech Urbański.

Metaverse users will hear Wojciech’s work as they launch from Everdome’s virtual Hatta spaceport to the Mars Cycler, situated in Earth’s lower orbit, with the musical collaboration evoking a similar atmosphere to Harry Gregson-Williams’ soundtrack for “The Martian” or Hans Zimmer’s “Dune”.

Also Read: Bedu Has Built A Metaverse Of The UAE’s Planned Mars Trip

As well as partnering with Wojciech Urbański, Everdome is also utilizing the talents of Michał Fojcik, a sound supervisor and designer who has worked on blockbusters including X-Men: Dark Phoenix and Solo. A Star Wars Story.

“Building a sonic background for a metaverse experience is a uniquely challenging task. In the absence of true forms of touch or smell, the visual and the sonic take on huge levels of importance if the experience is to be considered truly hyper-realistic,” says Michał Fojcik, sound supervisor and advisor.

Both artists will be dedicated to the creation of a sonic soundscape that will significantly enhance the quality of Everdome’s storytelling, and you can hear the first single from their collaboration, “Machine Phoenix”, on all major music distribution platforms, including Spotify, Anghami, and YouTube from today.

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The project relies heavily on blockchain technology and decentralized hosting to enable the company to deliver a high-quality virtual experience. The project is known as “2117”, after the UAE’s planned Mars 2117 initiative, which aims to create a habitable colony on the red planet known as the “Mars Scientific City”.

The Mars metropolis will have food laboratories and its own water, food and energy harvesting technologies, using 3D printing to help overcome some of the complexities of building in such a harsh environment.

Earlier this week, Bedu signed an agreement with the Mohammed bin Rashid Space Center, which will assist Bedu in developing its unique metaverse, which will function like a real-life economy, with all the infrastructure and regulatory framework needed over the coming years.

“Mars is a destination aligned with [the UAE’s] vision and direction. Our focus is on creating a world where people can socialize, network, and live together without differentiating race, culture, and religion. […] As with any technology, it will impact multiple pillars, and the economic factor is one of the most important pillars,” says Amin Al Zarouni, chief executive of Bedu.

Also Read: Saudi Arabia To Send First Female Astronaut Into Space By 2023

The metaverse is part of the internet’s transition to Web3, which relies heavily on blockchain and decentralization while focusing on openness and greater user utility. The result is the ability to create entire 3D digital worlds, and the UAE, in particular, has taken significant steps to promote the technology, including the development of the Dubai Metaverse Strategy, which aims to create 40,000 jobs and pump $4 billion into the UAE’s economy over the next five years.

Despite rapid progress, Mr. Al Zarouni of Bedu is keen to point out that the metaverse is still in its early stages, but is estimated to hit the mainstream in the next 5-10 years.

The post Bedu Has Built A Metaverse Of The UAE’s Planned Mars Trip appeared first on Tech Magazine.

The pioneering online festival has been organized and developed by The Bold Group in collaboration with the King Abdulaziz Foundation for Research and Archives (Darah). The event will showcase immersive 3D spaces, enabling visitors to tour the Kingdom and soak up the local heritage, landmarks, food, culture, music, and more.

As well as the experience of a virtual visit to Saudi Arabia, the Bold Group’s decentralized platform will feature iconic wearable national attire in the form of NFTs. The organizers will also provide POAP (Proof of Attendance Protocol) as a limited edition collectible NFT so virtual tourists can show off their participation in the world’s first virtual Saudi National Day.

“We’re witnessing a major transformation in the Saudi digital industry where Saudi Arabia is being increasingly recognized as a key player in the global technology scene […] Disruptive technologies like the metaverse is the future, and we at The Bold Group aim to be a key player in that evolution. The idea to usher in the Saudi National Day […] was inspired by the challenge of convening people across the Kingdom’s 13 different regions to celebrate Saudi Arabia in one virtual space,” says Ziad AbuRjaily, Creative Technology Director in the Bold Experience Unit.

Also Read: Google Plans A Future Where Robots Think For Themselves

Saudi Arabia is currently at the cutting edge of the world’s digital transformation and aims to become a global technology hub. Groundbreaking events like the Saudi National Day will further highlight the region as a place where innovation and creativity flourish, putting the Kingdom at the center of the rapidly expanding metaverse.

The post Saudi National Day 2022 To Be Held In The Metaverse appeared first on Tech Magazine.

It will function in much the same way as a traditional brick-and-mortar building, serving the freelance and digital nomad economy and acting as a virtual office and meeting space.

The tower is simply called “The V” and it will offer a fully interactive ecosystem complete with video conferencing, event spaces, and other function rooms, as well as metaverse avatars and a comprehensive suite of communication tools.

The idea behind the project is to incorporate real services and solutions into a completely digital space, enabling seamless communication and networking, plus solutions for accounting and auditing. The tower will even act as a hub for establishing highly tax-efficient legal entities and help businesses utilize legal decentralized autonomous organization structures (DAOs) while pairing with real-world offices and mailing addresses.

“It is our vision as a company to be at the helm of creating a borderless business environment, where geographical boundaries do not exist, and entrepreneurs from all over the world enjoy the freedom to do business and transact with one another in a secure environment,” says George Hojeige, CEO of Virtuzone.

Also Read: Intel And Broadcom Show Off Super-Fast Wi-Fi 7 Technology

Millions of digital nomads and freelancers from around the globe will be drawn to the V tower, which will serve as a metaverse headquarters. The building will also bolster the UAE’s digital economy, attracting investors and helping to shape the region’s continual digital development.

The post Virtuzone Plans To Build V-Shaped Metaverse Skyscraper appeared first on Tech Magazine.