The consistent efforts of the UAE government have made it one of the fastest-growing destinations for Web3 projects.
A recent report published by the country’s Crypto Oasis Ecosystem highlighted the country’s prominence in the Web3 ecosystem, citing the recent statistics wherein 1,450 active Web3 organizations with nearly 7,000 individuals have been identified in the country.
Dubai Multi Communities Centre (DMCC) has registered more than 1,450 Web3 and divided them into two sets- native and non-native. Of these, 65% are native, whereas 35% are non-native, i.e., 950 organizations are native, and 500 organizations are non-native. The report further stated that more than 50% of native blockchain organizations are based in Dubai.
The country’s government, in recent times, has been very progressive towards the adoption of blockchain technology and markets that are associated with it, be it metaverse, NFTs, or Web3. The current Future Blockchain Summit in Dubai has been a stepping stone laid by the country in the sector and is also significantly promoting global business opportunities for Web3 innovators.
In July, the Dubai government announced a metaverse plan to turn the UAE into one of the world’s top 10 metaverse economies. This strategy promotes Dubai’s target of supporting more than 40,000 virtual jobs by 2030. The country’s focus on Web3 technology has also made the country a growing hub for some leading global crypto platforms and companies.
By the end of September, The UAE Ministry of Economy has recently doubled down on the plan as it intends to open a metaverse headquarters in the nation.
