Metaverse in the Middle East

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  • 7th Aug, 2022

The Metaverse, described as the next evolutionary step of the internet by its creators, could be about to enter our lives and alter them forever. The technology behind it is accurate and already in use, but what does this mean for us in the Middle East? How do we understand it, and how do we get involved?

 

Metaverse’s Not a Technology

The Metaverse’s not a technology; it’s a place. A place where we do whatever we want to do. Like any other place, The Metaverse has its rules and principles. To understand The Metaverse better, I wrote down my point of view: what is it? How does it work? Who controls it? And finally…what can we do there?

 

Glimpse Into the Metaverse

The metaverse is a collective virtual shared space created by the convergence of virtually enhanced physical reality and physically persistent virtual space, including the sum of all virtual worlds, augmented reality, and other levels of reality. The word metaverse is a portmanteau of the metaphysical universe. 50 years ago, we were doing business, meeting socially or learning by going to physical places to do so, 20 years ago, we started to do all of those by logging into the internet via a screen in laptops or mobiles and still can bring the same outcome either making a profit from business or meeting with fr4ineds and families and also learning and getting degrees, now in 2022 we started to do the same in the metaverse which also needs an internet connection and device, it could be a laptop, phone and better to be the specialised device for the metaverse which support the 3D Platform and giving us a sense of the present and engagement wasn’t available via laptop or phone screen, and that will compensate the lake of employment compared with the universal physical interaction

 

Why Invest in Virtual Reality and Metaverse?

It’s no secret that companies like Oculus, HTC, Microsoft, and Sony are putting a lot of resources into virtual reality. VR-based gaming alone is projected to reach USD 42.50 billion by 2025.

So why invest in virtual reality? Put: it’s one of those things that we can’t imagine right now but will likely have an enormous impact on our future. It could change how people interact, buy products and even learn new skills.

Fifteen years ago, if you had 1 million to invest in doing a business, most probably you chose to buy office furniture, hire a team and make some offline marketing and branding in magazines or outdoor. If you were visionary enough, you made a website. Right?

Just five years ago, you started to allocate a higher budget and invest more in your online presence, whether from an e-commerce website or social media platforms and marketing or event configuring your online payments. Because your customers are online through laptop and mobile devices and want to purchase from their comfort, that’s what will happen in the metaverse, people are going to spend more time in 3D environments using as specialized devices, and they will prefer to buy and consume time and money from this 3d environment (metaverse platforms) be there now, they are coming to you, better that you go after them!

 

Where Is the Middle East Headed?

The Middle East shows signs of progress and change, as younger generations are becoming more educated and connected to technology. We are starting to see investments come into Turkey and Oman. The main question for me is, where will we be in 5 years from now? Where will other countries, such as Saudi Arabia and Egypt, end up? And most importantly, how much impact will be metaverse have on our everyday lives? Still, the Egyptian government can’t allow cryptocurrencies, an essential tool to monetise any online business and metaverse platforms where we can trade and exchange things based on cryptocurrencies. the culture and social backgrounds behaviour of any nation play a significant role in adopting any new technology and middle east people taking the recent change by storm not by welcoming seriously; however, aim an originally Egyptian and proudly Arab metaverse, ready man 🙂

 

What Does That Mean for The Business World?

The integration of Virtual Reality into daily life is happening right now. Companies recognise its potential to make their goods more appealing and give customers a better experience. However, it’s still something many people think of, like a futuristic technology that won’t have much practical use for them in their day-to-day lives.

Companies started to realize Virtual reality is not for gaming and entertainment; it’s a way to learn a new skill, make productive business meetings, and reduce business operation cost aligned with the environmental impact that all business is considering for our planet.

Brilliant universities and schools see the metaverse new campus for their educational content.

 

Case Study #1 – Metaverse Dubai

Dubai’s Sheikh Mohammed bin Rashid announced plans to introduce a pilot of Virtual Reality (VR) programs, to be implemented and overseen by Dubai’s media department. The hope is that these programs will bring people closer together through VR. The media hub will cover all aspects of media: television, radio, and print. One prominent example is Halcyon Tower – a virtual 360-degree tour of Al Fattan towers on your smartphone or VR headset from any angle imaginable.

 

Case Study #2 – Metaverse Saudi Arabia

A New Source of Wealth for The Middle East? A growing technological innovation sector is emerging within Saudi Arabia. Jeddah, a coastal city with roughly 3 million residents, is leading innovation and has grown to be an attractive location for start-ups within fintech, ICT and online gaming, among other industries. Online games alone contribute USD 1 billion annually to Saudi’s GDP. And while these numbers are impressive, they pale in comparison to what else Saudi Arabia could provide through technological innovation. so metaverse in Saudi Arabia will come very soon, and I can expect hosting Hej in Metaverse will be legalized and monetized

 

Case Study #3 – Metaverse Qatar

In Qatar, virtual reality is just beginning to gain traction. The country already hosts three VR arcades (one at Doha’s Museum of Islamic Art, one at a mall called City Center, and one on an island) but has yet to see much consumer adoption of VR.

Metaverse in egypt

Case Study #4 – Metaverse Egypt

Egypt is still confused about the metaverse. The popular definition of a metaverse in Egypt means such technology. In October, it became famous when Meta CEO announced it in the Facebook connect online event.

Mohamed Khalil, the Head of the Technology Sector at the Administrative Capital for Urban Development (ACUD), said that the New Administrative Capital (NAC) project allows customers to make virtual tours via the internet remotely inside residential units very similar to Metaverse’s technology.

that was a statement from the Head of Technology in Governmental entity in Egypt and the lead organization to build up the new capital city, and the right move for this new capital to be built in the metaverse cloud using an augmented and virtual reality and computer-brain interface technologies

The use cases are based on different domains starting with Real Estate, hospitality and entertainment, and many others that are still at an early stage. Many institutions invested in Virtual Reality and Augmented Reality devices. The Ministry of Antiquities also used virtual reality (VR) during 2017’s Valley of the Kings: Scanner at Work exhibition, where visitors were invited to enter King Tutankhamun’s tomb using VR headsets.

Hope you enjoy reading this blog and looking forward to meeting you one day soon in the metaverse cloud.