Metaverse city to be developed in Dubai

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Metaverse city to be developed in Dubai
Metaverse city to be developed in Dubai

Including firms in the film, music, entertainment, acting, finance, real estate, and gaming industries, the metaverse city will reportedly be built through local partnerships

Animoca’s brand, the Sandbox will be bringing its metaverse city strategy to Dubai, it announced during the 62nd edition of the ‘True Global Ventures Conference’.

Through local partners that include UAE media group, the Dubai metaverse city, called ‘Dubaiverse’ will be launched, according to the company.

Animoca Brand’s Dubai-themed metaverse will mirror the Sandbox’s Hong Kong ‘Mega City,’ a gaming metaverse and virtual cultural hub based on the Asian financial hub of Hong Kong.

Including firms in the film, music, entertainment, acting, finance, real estate, and gaming industries, the metaverse city will reportedly be built through local partnerships.

“Other planned location-based metaverses are in the works for Singapore, Korea, and Turkey,” said Sebastien Borget, co-founder and chief operating officer (COO) of Sandbox Paris.

Dubai’s virtual asset regulator was the first regulator in the world to purchase a piece of land in Sandbox. Borget noted, “It’s been a key moment, and from there, we’ve been able to attract other major local partners and brands.”

Mehtap Onder, Managing Director for Dubai at GCEX, a digital brokerage firm, said they will also enter Animoca’s metaverse, offering virtual asset education in a way that couldn’t be accomplished before.

Following a similar partnership between Hong Kong’s Sandbox and local newspaper the South China Morning Post, the metaverse city will also have a local news partner.

True Global Ventures with a presence in the UAE announced its total investments in Animoca Brands have reached $38 million.

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