METAVERSE

SNEAK PEEK<ul><li>AI ecosystem Multiverse Labs teams up with the Sharjah Commerce and Tourism Department Authority (SCTDA) to launch the very first metaverse city in the UAE.</li><li>The metaverse project will be called the Shrjahverse and will encompass 1,000 sq. miles featuring avatars generated from photographs of real people and social interactions.</li><li>SCTDA anticipates that the new virtual city will be capable enough to boost tourism and create even more new metaverse jobs.</li></ul>As confirmed in a press release made official on October 10, the artificial intelligence incubation firm Multiverse Labs has entered a partnership with the Sharjah Commerce and Tourism Department Authority of UAE (SCTDA) in order to facilitate the establishment of the first metaverse projects in the country.The metaverse project will be dubbed Sharjahverse in the country and will revealingly encompass 1,000 square miles. In addition to this, it has been disclosed that the metaverse will feature avatars that are generated from the photographs of real people, social interactions from the Arab region, and player-owned creations.As described by Multiverse Labs, it is a photorealistic physics-accurate metaverse. The Sharjah Commerce and Tourism Department Authority (SCTDA) is the major government agency in charge of standardizing and promoting the tourism industry in the Sharjah emirate.Well, the first metaverse project in the region is expected to bring a boost to local tourism while potentially creating more new metaverse jobs.Along with the United Arab Emirates, other governments are also beginning to embrace the functionality of the metaverse as a capable catalyst that can stretch a helping hand in reviving the economies amid the current global inflation.Most recently, DEWA Dubai <a href="https://www.todaynftnews.com/dewa-dubai-launches-dewaverse-becomes-the-first-local-government-organization/" rel="noopener noreferrer nofollow">launched</a> DEWAVerse, becoming the first local government organization. The announcement associated with the same was made during the Digital Transformation Steering Committee. DEWA is a firm that makes investments in metaverse technology and strives to enhance its efficiency and production, facilitating the overall reduction of costs.Back in the month of August, the municipal government of Beijing made an announcement regarding the two-year metaverse innovation plan that would be aligned with the Web3 development efforts of all local districts. Similarly, the South Korean government has invested hundreds of millions of dollars in several metaverse projects.Source: <a href="https://www.todaynftnews.com/" rel="noopener noreferrer nofollow">Today NFT News</a>

UAE announces the launch of the Metaverse City to boost Tourism with Multiverse Labs

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