Munich-based metaverse company METAYO has recently joined Dubai’s new metaverse strategy to collaborate on building the tech plan’s ecosystem of software solutions, it was announced on Wednesday.
Dubai’s Crown Prince Sheikh Hamdan bin Mohammad Bin Rashid al-Maktoum recently unveiled the city’s metaverse programme, which hopes to attract 40,000 digital professionals and grow the city’s economy by $4 billion USD over five years’ time.
Matthew Ball, one of the world’s top experts on the Metaverse, said in a recent statement that interoperability would remain one of the key tasks to building the Metaverse to connect immersive worlds under common standards.
Speaking to the Financial Times (FT), Ball defined the Metaverse as,
“A massively scaled and interoperable network of real-time rendered 3D virtual worlds that can be experienced synchronously and persistently by an effectively unlimited number of users with an individual sense of presence, and with continuity of data, such as identity, history, entitlements, objects, communications and payments.” In other words, it amounts to far more than just a flashy rebranding of virtual reality”
METAYO’s patented Holoswitch app aims to facilitate this by connecting tech and luxury goods enthusiasts with Web3 and non-fungible tokens (NFTs) on its platform.
The German tech firm also recently joined the Metaverse Standards Forum (MSF), an organisation of dozens of groups, companies, startups, and experts, to build global standards in interoperability and security for the rising spatial communications platform.
The news comes as Dubai aims to step up its efforts to create an ecosystem for virtual, augmented, and mixed reality (VR/AR/MR) headsets, 5G, digital twins, edge and cloud computing, the internet of things (IoT) and other technologies.
Building the United Arab Emirate’s national economy, the strategy also hopes to train and deploy future generations of tech professionals, content creators, and web3 experts to expand the global ecosystem across sectors, including remote work, collaboration, healthcare, tourism, retail and others.
The UAE launched a Metaverse portal in late January for engaging citizens across the nation seeking medical advice, namely amid ongoing COVID-19 outbreaks, to expand its outreach to remote locations.