Fri 10-03-2023 11:37 AM
DUBAI, 10th March, 2023 (WAM) — Dubai Chamber of Digital Economy, one of the three chambers operating under Dubai Chambers, has brought together top executives, business leaders, and entrepreneurs in the metaverse and crypto industry for a new edition of the chamber’s digital industry workshop series.
The workshop was attended by Ahmad bin Byat, Vice Chairman of Dubai Chamber of Digital Economy, and board members of Dubai Chamber of Digital Economy Hind Seddiqi, Fadi Ghandour and Dany Farha.
The workshop discussed ideation, opportunities, challenges, and ways to drive progress in the metaverse and crypto fields.
Bin Byat said, “Dubai has a healthy and vibrant digital ecosystem welcoming digital companies across various economic sectors, and the adoption of the metaverse is rapidly growing.”
“The workshop on the metaverse and crypto industry is part of a series of digital industry workshops we continue to host. It is a great platform for connecting like-minded leaders to discover the latest developments and providing a space for meaningful discussions.”
Dubai launched the Dubai Metaverse Strategy with the ambition of Dubai becoming one of the world’s top 10 metaverse economies and hubs. The strategy aims to attract more than 1,000 blockchain and metaverse companies to Dubai to develop Web3 technology and its applications for Dubai.
Dubai has introduced its virtual asset regime and established Dubai’s Virtual Asset Regulatory Authority (VARA) to provide a secure and progressive operating framework for the virtual asset sector. Recently, VARA announced its entry into the metaverse by establishing its metaverse HQ in the virtual world of ‘The Sandbox’, thus becoming the world’s first regulator to debut.
Major global crypto players such as Binance, Crypto.com and Bybit have all already moved their leadership to Dubai, favouring the emirate’s ‘light touch’ approach to regulation.