- Sharad Agarwal, chief metaverse officer of Cybergear, prepares to introduce Metaverse to Dubai.
- Dubai Government to allow government departments into the metaverse.
- Agarwal said that it is only a matter a time before the UAE residents can pay bills through the metaverse.
Sharad Agarwal, chief metaverse officer of Dubai metaverse company Cybergear, expounded on the metaverse’s addition to Dubai firms.
At the MetaDecrypt Web 3.0 Summit on Sunday, which was organized by Khaleej times, Agarwal stated that the Government of Dubai is planning to introduce a part of its government departments to the metaverse, allowing users to perform actions in these departments in the future.
As stated in various sources, Agarwal commented at the metaverse-themed event:
We have started getting a lot of inquiries from government departments and ministries to make them Metaverse-enabled. It is just a matter of time before Dubai becomes the crypto and Metaverse hub of the world.
Agarwal added, ” Dubai has a huge real estate market. In the future, people will be able to fly like superman to a community, look at the villas and view the villas and also configure the interior decoration to their liking. Once they’re satisfied, they can pay digitally.”
Additionally, he said that it is only a matter of time before citizens of the United Arab Emirates (UAE) will be able to pay their bills through the metaverse.
Notably, many other experts shed light on non-fungible tokens (NFT), the metaverse, and blockchain at the two-day summit.
According to news reports, some companies have already planned on transitioning to the virtual space. DAMAC, a real estate company, has invested up to $100 million to develop a concept to allow potential customers to check into their luxury properties virtually.
Ali Sajwani, general manager of operations at DAMAC and CEO of D-Labs, proclaimed, “We sell around AED100 million monthly over Zoom calls without any immersive technology. With the metaverse, we can sell AED700-800 million a month to any customers in California, New York, or Miami.”