The city of Dubai is planning to unveil its digital twin within the metaverse to provide residents and businesses with a virtual alternative to meet people and share ideas.
The One Human Reality initiative will form the foundation for the Emirate’s presence within the metaverse. Dubai Municipality revealed the plan for the digital twin at the World Government Summit. The initiative will incorporate social media, augmented reality, virtual reality, video games, cryptocurrencies, and other technologies to realize its vision.
“One Human Reality is the meeting point or integration between two worlds: the metaverse and the world we are currently living in together,” said Dawood Al Hajri, Director General for the Dubai Municipality.
Financial analysts have predicted that metaverse will create over $800 billion in revenue by 2024. It will become a vital constituent of business and social interactions.
It would enable users to take a tour around the city with their friends physically located in different parts of the world. They could virtually travel to historical monuments, go on immersive tours of landmark destinations, or explore a wide range of other applications.
Governments and cities worldwide need to invest massively in digital infrastructure to make this possible. Moreover, they would immensely benefit from integrating big data to enable the residents to access the world differently.
With many software and hardware applications, the metaverse has already begun making rapid advances in the education and healthcare sectors. We are testing the capabilities of such technology to make the world a better place to live in every day.
“If you can get to a point where metaverse hardware is accessible to enable inclusion, that is ideal,” said Noor Sweid, Founder and General Partner of UAE-based venture capital company Global Ventures.
The global metaverse industry was valued at $47.69 billion in 2020. According to Emergen Research, it is expected to grow at a compound annual rate of 43.3 percent to hit $828.95 billion by 2028.
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