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Metaverse in GCC

Metaverse in GCC expected to reach $13 Tn by 2030.

The “Metaverse” does not have one generally accepted definition.

Metaverse in a new world where you can discover new worlds while being in your place. A whole new revolution in technology is going to take place by 2030. Simply speaking, the metaverse is a virtual world where all real-life aspects and forms will be entirely upgraded like business, learning, and entertainment. You will be fully immersed in a 3D world. In the upcoming lines, we will give you a quick glimpse of what we are going to expect while using metaverse with simple tools and less effort.

Metaverse will give you quick and full access to all life forms, nothing will be hard and inaccessible. It’s an immersive virtual environment in which individuals may establish a virtual presence that gives experiences, due to navigability, is relatively the same as the actual world. Using AI capabilities will make you create an avatar of your own, then have your normal life in a virtual ecosystem.

Analysts are aligned that metaverse is currently worth between $40 and $65 billion and growing exponentially.

GCC Metaverse analysis

50$ Bn revenue opportunity for fashion and luxury coming for the Metaverse by 2030

Businesses in the Metaverse real estate will open new doors for business owners to develop their businesses. Meetings and events will take place with ease. The Metaverse virtual world has no geographical barriers and so does the number of audiences. The process of selling and buying will take place by uploading a metaverse gallery. Business fields like real estate will have a significant leap. homes and lands will be available in AI form. Using a specified and secured financial system will make all transactions go smoothly, as there will be no physician currencies available in the metaverse world.

Metaverse use cases for luxury retail & real estate exist across the full customer journey, from awareness to retention.

Metaverse full customer journey

Many international companies have is making their first steps into the Metaverse world but not in full form، like Channel, Prada, and Louis Vitton. Investing in the metaverse exceeds 50 Billion Dollars, as a total sum of investments. Many more international companies showed interest in the metaverse and even starting trials but on limited forms. Your brand will find its place among the rest, meeting and standing in front of different competitors.

The world will see your business, know your services, and widen your audience.

Materverse application also take a role in education and learning will be a solid part in the Metaverse GCC. Students and learners will have the ability to attend classrooms and lectures wherever and whenever they want. Without any barriers or complications, you will have better elements for engagement and communication.

You will experience new tools for learning, making new friends, and accessing new boundaries. Metaverse is the future of online education. Study and get international certificates at your place. No need for traveling and wasting time. Metaverse will be a money-time saver on all levels.

Entertainment and leisure business will be maximized. Online games in a virtual 3D world will have a new and more interesting form. You will be on the battlefield by yourself, meeting and engaging with your rivals. A whole new gaming platform will be addictive and mindblowing. Enter a new imaginary world by yourself. Winning and losing will be challenging and addictive.

Several regional organizations have started experimenting with the Metaverse

Both Microsoft and Meta are on steady steps in manufacturing hardware to be used in the metaverse world. Users can utilize Metaverse devices such as Metaverse virtual reality and Metaverse augmented reality headsets to step into the virtual realm to have fully immersive experiences.

However, you have to get VR hardware like PlayStation as one of Metaverse game; an Metaverse AR headset like Microsoft Hololens, a Metaverse gear kit like Valve Index, Metaverse accessories like Haptx Gloves, and many more.

One the other hand, digital and technology-specific companies will compete to produce the best types of equipment and tool for the Metaverse. They will produce lighter and user-friendly tools for all ages and genders to help them be fully immersed in the metaverse world.

Top companies in MENA that have started to experience Metaverse:

  1. CHALHOUB GROUP: Launched several initiatives with Christofle, from an NFT collection over token-gated commerce, to a virtual quest in The Sandbox Alpha Season 3. Launched NFTs for Level Shoes in partnership with Lanvin.
  2. ETIHAD AIRWAYS: in July 2022, launched a collection of 2,003 NFTs representing 3D aircraft models in different liveries. NFT holders will have access to special events and be part of the NFT Club.
  3. NEOM: Plans to launch a digital twin of the city in the Metaverse, the first platform that combines digital and physical architecture, integrating seamlessly the two worlds.
  4. WARBA BANK: Kuwait-based bank is the first Islamic bank to be present in the Metaverse with sites in Decentraland and Sandbox.
  5. DAMAC GROUP: Investing $100 million in its D-Labs division aiming at creating properties in the Metaverse. It also accepts crypto payments.
  6. MAJID AL-FUTTAIM: has a partnership with Binance to launch NFTs and blockchain projects as well as accepting crypto payments in its properties.
  7. THE SANDBOX: Announced they will be launching “Dubai Verse” as its next “Mega City” with the presence of local companies like VARA and Khaleej Times.
  8. QATAR UNIVERSITY: in August 2022, University partnered with Meta Visionaries to enter the Metaverse, giving students access to courses in the virtual space.

Through this, the world is getting prepared to witness an everlasting revolution in mankind. You will live, act, and react in a 3D world. Simply, You will experience a daily routine in a totally different and interesting way using special tools and equipment.

Also read about future brands and how to build you brand identity

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