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UAE-based Metarverse Holdings will launch copies of Abu Dhabi and Dubai in the metaverse for the first time. The beta version is scheduled to launch by October 2022, with general access open by the end of the year.
Users will be able to see the sights of Dubai and Abu Dhabi. In addition, the metaverse will feature the real world, thus the company intends to merge the physical and digital worlds.
The metaverse will offer NFT blockchain-based commerce, shopping and browsing at major retailers, as well as for buying advertising space in the virtual city, attending simulated lectures, registering for licences and government-issued documents.
Unlike other VR applications that offer fictional digital worlds, Metarverse Holdings' platform, according to the company, will be a full-fledged metaverse that will be compatible with dedicated devices.
Metarverse Holdings CEO Preven Reddy cited Dubai and Abu Dhabi as obvious choices for creating the metaverse:
With the emirates as leaders in adopting innovative new concepts and disruptive economic and technological models, for us, there was only one place we could launch.
Metarverse Holdings intends to invest AED 200 million (about $54.5 million) to create the metaverse.
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