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UAE, Saudi to be ‘major players’ in Metaverse; will invest and reap billions

The UAE and Saudi Arabia will lead the region will it comes to investing in the metaverse, with the Middle East to become a “major player” in the online virtual world, a futurist expert told Al Arabiya English.  In an interview with Al Arabiya English, Ian Khan, author of ‘Metaverse for Dummies,’ said the region has also seen several firsts in the immersive virtual world, including the first-ever metaverse wedding.

The metaverse, which is being seen as the future of business and human interaction, is projected to reach $5 trillion by 2030, according to the latest report from McKinsey & Company.

NEOM will have a digital twin in the “metaverse,” allowing people to live, work and play in the megacity before it is even built, the Future Investment Initiative (FII) conference was told in 2021.

In effect, FII heard, residents will be able to transport themselves into the NEOM metaverse and experience daily life as they would in the soon-to-be physical city.

Read the full story at Al Arabiya

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