- Artificial intelligence ecosystem Multiverse Labs has launched a metaverse city in Sharjah.
- The virtual city is backed by the Sharjah Commerce and Tourist Department Authority.
- The Sharjahverse will grant access to any location throughout Sharjah.
In an effort to boost tourism in the United Arab Emirates (UAE), the artificial intelligence ecosystem Multiverse Labs has launched a new metaverse city in Sharjah.
Sharjahverse, the new metaverse metropolis, covers the whole 1,000 square mile surface area of the emirate and is touted as “photorealistic, physics-accurate” by developers of Multiverse Labs. The new metaverse city is backed by the Sharjah Commerce and Tourist Department Authority (SCTDA).
The SCTDA was established in 1996 and serves as the primary government body responsible for regulating and developing the tourism industry in the Emirate of Sharjah. The organization expects the new virtual city to increase metaverse employment opportunities and attract more tourists to the area.
According to Khalid Jasim Al Midfa, head of the SCTDA, the new project would move “the mass market tourism industry towards next-generation, sustainable practices.” For this reason, Sharjahverse is promoted as granting “unprecedented access to almost any location” throughout the emirate.
Beside increasing emirate-level crypto and blockchain acceptance, there are indications that the UAE’s federal government is preparing good regulatory catalysts for the country.
A report from earlier this year indicated that the UAE Securities and Commodities Authority is nearing the completion of laws that would make the country a suitable location for the establishment of digital asset enterprises.
The news comes just weeks after similar developments in the neighboring Emirate of Dubai. On September 28, the UAE Ministry of Economy revealed a new Metaverse headquarters expected to operate as the official “third address.”
The United Arab Emirates isn’t the only country to see economic possibilities in Metaverse technology. In Japan, the prime minister has indicated that metaverse technology would be a component of the country’s digital transformation process, while the South Korean government has committed hundreds of millions of dollars to numerous metaverse initiatives.
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