Metaverse on the way from the ‘Age of Empowerment’ to the ‘Pillar’ in the Middle East

While the hype surrounding Metaverse may have peaked in 2021, the executive believes it will live on, with governments in the Middle East leveraging the technology to boost their economies.

At the Arte Talks event held at the Digital Art Theater in Dubai, Cointelegraph spoke to Samuel Huber, CEO of LandVault, which works with various government agencies in the Middle East. Huber spoke about Metavas' current interest and the large part about diving deep into the technology.

According to Huber, in 2021 and 2022 the metaverse was the dominant narrative, so everyone jumped in. However, the executive said that many who had started lopsided projects turned back. Huber explained that this was because many of his projects underestimated the impact of Metavasso in the short term and built things without resources. He added:

“They were also very limited by certain platforms and the experience that was available to them at the time. I think this was a really glorified era, the first fort into Metavas. But it was really an example of what Metavas was.”

Now, the Metaverse is taking a different form, which Huber describes as the “3D Internet.” The executive explained to them that it was about building 3D experiences embedded in websites. “We believe in building 3D experiences that can be hosted on your own websites just to create a better experience for your users.”

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Although many companies have already moved on from creating idiosyncratic projects to artificial intelligence or other technologies, Huber explained that governments in the Middle East are a big part of the metaverse. Huber told Cointelegraph:

A large part of what we have found are governments in the Middle East, especially the United Arab Emirates, Saudi Arabia and Qatar, who are striving to digitize their infrastructure and create an exciting economy for their citizens.

For example, Huber points to Dubai with his vision of creating 40,000 jobs in his Metaverse strategy. In the year July 18, 2022 The Government of the United Arab Emirates has launched the Dubai Metaverse Strategy to enhance the country's leadership in future technologies. In the year It has announced its goal of supporting 40,000 virtual jobs by 2030.

The UAE Ministry of Economy will open an office in Metaverse in 2022, showing the country's commitment to exploring the use cases for the technology. As Huber explains, these are examples of Middle Eastern governments “trying to expand the economy.”

They identified some of them as metaverse, blockchain, AI, leadership, investing in ecosystems, creating the kind of events we are currently in, bringing in the best talent, and they really want to. They have companies that are born here and grow here,” Huber said.

He said that Metaverse is “one of these pillars” and that the vision is a long-term vision that will not stop even after ten years.

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