UAE Commits To Creating Web3.0 Community – News

UAE Commits To Creating Web3.0 Community – News

Pictures provided

Pictures provided

The size of the global Metaverse market in 2021 was $ 63.83 billion. According to Fortune Business Insights, the market is projected to grow from $ 100.27 billion by 2022 to $ 1.52 trillion by 2029.



Published: Sat 26 May 2022, 11:35 PM

Latest version: Sunday 29 May 2022, 12:47 AM

The UAE is known as a pioneer in innovation and offers a powerful platform for everyone to explore opportunities in the rapidly evolving Web3.0 community.

What is Web3.0? According to analyticsinsight.net, this is the latest Internet technology that enables machine learning, artificial intelligence and blockchain to achieve real-world human communication.

The size of the global Metaverse market in 2021 was $ 63.83 billion. The market is projected to grow from $ 100.27 billion in 2022 to $ 1.52 trillion by 2029, with a CAGR of 47.6 percent over the 2022-2029 forecast period, accordings to Business.

The UAE is actively pushing for reforms and policies for this fast-growing community, as evidenced by the two-day event – Metacon – which is currently being hosted and ends today at The Arena at the Dubai World Trade Center.

Metacon, powered by GALA, the first Metavers at the region’s real pop culture event, officially opened its doors on Saturday. Dr. Marwan Al Jaruni, Member of the Global Future Council of the World Economic Forum and a welcome speaker at the World Economic Forum’s Inaugural Speech CEO.

“I really believe we’ve started something meaningful here at Metacon, the first metavars in pop culture events in the region. The rally shows that the UAE is truly moving forward with more blockchain forwards as we expand our dialogue towards blockchain gaming and e-sports, music and entertainment, NFTs, Web3 and more, “said Dr. Al Jaruni.

“I am delighted to see the most important names in the flying industry from around the world at this convention, and many local key players are more than ready to support our efforts to create mass awareness. The perception of this universe. I am equally impressed by the participation of so many of our young guests because, in order to move our efforts forward, our young people must also be prepared for technology. Overall, these are steps in the right direction, and we can’t wait for this community to grow, “he added.

Metacon – Powered by Gala founded by Eric Shearer (co-founder of Ginger) and Wright Thurston, one of the first pioneers of crypto mining – can be explored across four regions, including Metastage, Metaconnect, Metarena and Metaspace.

In a fast-growing world of blockchain technology, Gala has established itself as the undisputed world leader in Web3 entertainment. By bringing a professional quality AAA gaming experience with a strong ecosystem based on true player ownership and rewards, Gala Games is creating the world’s most lucrative entertainment economy.

With two live games and over a dozen Web 3 games in development, Gala Games expects continued growth as they set new standards for Web3 games. In addition, Gala recently launched its Web 3 Music, the world of gala music, to empower and promote artists and fans, share prizes and make it possible for new emerging artists to discover and make a living on their own terms. Gala Music has already teamed up with Snoop Dogg, Kings of Leon, Steve Aoki and several other famous artists, many of whom are planning to release multiple NFT albums on the Gala Music ecosystem.

Abdelrahman Mohammed, co-founder of Metacon, said: “Our intention is clear and that is to align every step we take for the greater vision of the UAE. So at Metacon, the drive is not only to mount a future-proof event but also to build a lasting community of creators, collectors, investors, experts and enthusiasts who will support each other as we further discover and understand this fast-growing industry. You can expect more from us and we invite you to be part of the movement. “

Metacon will transform its four zones, MetaStage, Metaconnect, MetaArena and MetaSpaces into a quadrilateral of action and learning. However, Metastage will host sessions and thought-provoking panel discussions to address the most trending issues in Metavers. Metastage will also be the site of the Metavator Challenge, a unique pitch competition and its first-of-its-kind platform for inventors of Metavers, NFT, gaming and Web3. Organized by One & Only with the support of the Dubai Youth Council, the second day will feature presentations with prizes covering 75 75,000 in cash, NFT, mentorship support, investor connections and more.

MetaConnect will feature more intimate workshops that focus on practical and useful tips for starting one’s blockchain journey. Looking forward to include some topics: Metaverse 101: An Introduction to Metaverse; The importance of conflict, creating and minting NFTs; How to move your business to Metaverse; How to trade NFT on the main platform; And how to transfer your business to Metaverse.

Viewers who are directly looking for a network with trailblazing entities and personalities can approach them intimately and personally in a complete show zone of Metaspace that features: the biggest blockchain-based games like FOTA, Medabots, Town Star and Spider Tank, to name a few; The NFT artist Ally, sponsored by Rakuza NFT Marketplace who will be the first to bring the NFT project to manga and anime that will be whitelisted and available exclusively on Metacon; BAPES Lounge, Metacon’s central hub and networking area where entrepreneurs, startups and SMEs can network and learn more about how blockchain technologies can be used and leveraged; And an NFT gallery curated by Ethereal Collective, which will bring works and collections from high-end artists, including Etherium Towers and World of Women, a bluechip NFT.

Finally, with the support of the Emirates Sports Federation, the Meta Arena stage will see eight international guilds compete in the first blockchain, multi-game sports tournament with titles such as Axis Infinity, Thetan Arena and Spider Tank with a total cash prize of $ 50,000. Prize pool. Other gaming titles include Fight Legends, Medabots and Swift Blowout, which will run mini, community tournaments at the MetArena. MetaCon tickets are available through metaconglobal.com, and every ticket buyer has the opportunity to mint it and convert it to NFT! – sandhya@khaleejtimes.com

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