Watch: First-ever Dubai Metaverse Assembly starts with a call to put people at heart of virtual world
Dubai: Gathering over 300 technology and industry experts from across the world, the inaugural two-day Dubai Metaverse Assembly opened on Wednesday at the Museum of the Future.
Khalfan Belhoul, CEO of Dubai Future Foundation, gave the welcome address and said embracing the metaverse is about creating a digital environment that is safe for humans and to do this, “humans should be put at the heart of it”.
Metaverse is an online, 3D, virtual universe connecting users in all aspects of their lives. Like the internet, it connects multiple platforms through a single browser. The metaverse is not yet fully in existence but it is dubbed as the future iteration of the internet that will allow users to work, meet, game, and socialise in these 3D virtual spaces.
Metaverse is still at its nascent stage and many do not understand how it will develop or how it can change the world. For starters, one can think of online network games where players from around the world play the same game together as a simple example of the metaverse.
‘Adaptation is a must’
Belhoul described the metaverse as a “quantum transformation” and said adaptation to this evolving technology is a must. “There will be many challenges,” he noted, adding: “We must focus more on the opportunities. We cannot take for granted this growing digital economy.” Experts say the current market size of metaverse has exceeded $3 billion and is expected to reach highs of $80 billion by 2030.
Belhoul underscored that the world today is mostly driven by technology and this shift has been more pronounced during the pandemic. “Humans have always adapted to changes and transformation. Collaboration is the key to understanding the challenges and exploring the possibilities of the metaverse,” he added.
As local and international experts gather in Dubai, the focus of the two-day event will be on the world’s readiness for metaverse and how it can enhance the quality of human life.
Hamad Al Shirawi, director of Dubai Metaverse Assembly, had earlier told Gulf News pressing questions about the metaverse will be answered and experts will share the opportunities in metaverse and its applications.
“Experts believe that the metaverse could enable humanity to redefine how business is done. This is very exciting. The potential impact of the metaverse extends well beyond business, and humans stand a lot to gain from a social perspective,” Al Shirawi said.
He had said: “Metaverse can provide a shared environment and economy for everyone, regardless of their location. Humans around the world can become connected like never before. Virtually every sector will benefit from metaverse technologies. These technologies will pave the way for smart societies of the future, digital government services, improved research and studies, better consumer experiences, enhanced e-learning tools and specialised training. This is just a handful of areas which can be transformed by the immersive worlds of the metaverse.”
According to Al Shirawi, “metaverse will provide integrated digital shopping experiences, open new horizons in e-gaming and entertainment, and create promising opportunities for broader uses of blockchain technologies, non-fungible assets and digital assets in general.”
He continued: “Virtually every sector will benefit from metaverse technologies. These technologies will pave the way for smart societies of the future, digital government services, improved research and studies, better consumer experiences, enhanced e-learning tools and specialised training. This is just a handful of areas which can be transformed by the immersive worlds of the metaverse.”