UAE's real estate developer to launch Metaverse project

UAE’s real estate developer to launch Metaverse project 

Metaverse is not only catching the attention of corporations based in the West but also companies based in the Middle East, DAMAC Properties is one.

Understanding the importance of new technology, United Arab Emirates (UAE) real estate developer DAMAC Properties has decided to launch the Metaverse project this month.

This was announced by the company’s managing director, Ali Sajwani who said that the company decided to enter Metaverse space after an online poll suggested that the real estate sector may be the first to adopt this technology.

The London Stock Exchange-listed company’s MD said that the company has already created a solution that will integrate the real estate developer’s different platforms from real estate to fashion and jewelry with an objective to bring it into the Metaverse.

While speaking at an ask me anything (AMA) session at NFT collection Crypto Bear Watch Club (CBWC)’s Sajwani said that with luxury real estate and fashion brands we hold, we can use these brands to most of their potential in Metaverse and NFTs. We aim to bridge the physical and digital assets to allow for cross-utilization.

He also revealed that he has bought 10% of CBWC’s token supply and also holds a plot in The Sandbox Metaverse.

UAE’s health ministry launches world’s first Metaverse customer happiness service center

Taking a step ahead in human-computer interaction by integration of the real, virtual and digital world in January, UAE’s Ministry of Health and Prevention (MoHAP) has launched the world’s first Metaverse customer happiness service center. 

The metaverse will provide an opportunity for citizens to join the MetaHealth space and move from their current location to the virtual customer happiness center, without taking a step out of their current location. Citizens can then request information, submit documents, pay fees, and more, with the actual faces of users being displayed in the virtual room instead of avatars.

This new technology can solve the problems of the people who are unable to move from their homes from one center to another center.

Speaking on this, Abdul Rahman bin Mohammad bin Nasser Al Owais, Minister of Health and Prevention said that Metaverse technology will play an important role in the future of UAE for the next 50 years.

Dr. Muhammad Salim Al Olama, undersecretary of the Ministry and chairman of the board of directors of the Emirates Health Services pointed out that it is the best convenient and safe model for receiving customers in the ministry and completing their transactions in a decentralized digital platform.

First NFT Metaverse city built

First NFT Metaverse project on the concept of the real-world map of UAE’s City of Gold, Dubai has been built.

Metaverse Dubai (MVP) is very different from other Metaverse projects, as it is based on a real-world map of Dubai’s most prestigious areas and features vivid recreations of their aesthetics, geometry, and topography.

The project-based on Binance Smart Chain (BSC) upholds the concepts of decentralization and NFTs originating from blockchain technology. It currently has 220,000 blocks and each block costs $100 BUSD. 

In order to provide wider reach, MVP is working on its own chain called META Chain, a proprietary blockchain technology that will allow Metaverse Dubai to expand and grow at unprecedented rates.

From governments to private companies, no one wants to be left behind in the fastest growing tech landscape and all want to exploit Metaverse, the fastest-growing new technology for citizens and clients.

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