The Sharjah City metaverse is yet another initiative that demonstrates the extent of the UAE’s commitment to the exploitation of these virtual worlds with significant economic benefits.
The Sharjahverse: a realistic metaverse city in the United Arab Emirates
The video gives a taste of it. In an October 10 press release, the Multiverse Labs platform announced its collaboration with the Sharjah Trade and Tourism Development Authority (SCTDA) to launch the Sharjahverse tourism metaverse.
This virtual world, built for the Emirate of Sharjah, is the first metaverse to be created “at the scale of a city”. It will cover 2,590 km². According to the CEO of Multiverse Labs, Cliff Szu, Sharjahverse would also be “the most realistic metaverse in the world”.
Metavers for tourism and job creation
Sharjah is considered the cultural capital of the United Arab Emirates. It is the second most populous Emirate, home to approximately 1.8 million people.
The Sharjahverse will have both economic and social benefits:
- It will promote the Emirates to a global audience in a unique way.
- It will create local jobs in the metaverse for Sharjah workers.
A virtual rival for the world’s largest economies
The Sharjahverse is therefore one of the concrete achievements that testify to the interest that the UAE authorities have in metavers. It is even a major economic issue.
During the Dubai Metaverse Assembly on September 28, Omar bin Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy and Telework Applications, mentioned the notion of a gross metaverse product (GMP).
This GMP should be able to generate billions of dollars in revenue for Dubai, without requiring people to be physically present in the Emirate. In addition, this indicator will measure the market capitalization of metavers in the UAE. This will prove whether or not they are able to compete with the world’s largest economies in terms of GDP.
Many cities in the UAE could thus have their web 3 version in the metaverse. Sharjah is among the pioneers in this movement. Just like this Dubai-based regulator who decided to move into a pixelated world in the second quarter of this year.