Multiverse Labs, an artificial intelligence ecosystem, has opened a metaverse city in Sharjah. The Sharjah Commerce and Tourist Department Authority supports the virtual city. Access will be available to all areas of Sharjah through the Sharjahverse.
AI Ecosystem Multiverse Lab has launched a new Metaverse City in Sharjah to promote tourism in the United Arab Emirates (UAE). The new metaverse city Sharjaverse is “realistic and physically accurate.” It covers an area of 1000 square miles of the emirate. Sharjah Trade and Tourism Department Authority supports the new metaverse city (SCTDA).
What Does This Mean for Tourism?
The SCTDA, created in 1996, is the principal government agency in charge of governing and advancing the tourist sector in the Emirate of Sharjah. The group anticipates that the new virtual metropolis will boost job prospects in the metaverse and draw more visitors to the region.
Khalid Jassim Al Midfa, director of SCTDA, said the new initiative would lead the mass tourism industry to the next generation of sustainable experiences. Sharjahverse offers “unique access to practically any point” around the emirate. There are signs that the federal government of the UAE is putting together effective regulatory catalysts for the nation.
According to a report earlier this year, the UAE Securities and Commodities Authority has finalized the bill. This makes the country an ideal location for developing digital asset companies. It has been weeks since a similar incident happened in the neighboring emirate of Dubai. The Ministry of Economy of the United Arab Emirates opened a new headquarters for Metaverse on September 28. It must also act as an authorized “third party address.”
The UAE is not alone in seeing the commercial potential of metaverse technology. The Korean government has allocated millions of dollars to various metaverse initiatives. Moreover, the Japanese prime minister said that metaverse technology would be part of Japan’s digital transformation process.
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