Even though the excitement around the metaverse isn’t as intense as in 2021, it’s still alive, especially in the Middle East, where governments use this technology to help their economies grow.
During an interview at the Arte Talks event in Dubai’s Theatre of Digital Art, Samuel Huber, CEO of LandVault, a company that works with metaverse projects for government agencies in the Middle East, shared insights on how the region engages with the metaverse. He mentioned that while the metaverse was a big topic in 2021 and 2022, many jumped on board, and some initiatives have scaled back. Huber believes this pullback happened because many projects were too optimistic about the immediate impact of the metaverse and created things that didn’t have actual use. He mentioned:
“These projects were also held back by the limitations of platforms and experiences available at the time. This period was just about getting excited about what could be, but it was more like a trial run of the metaverse.” Now, the metaverse is evolving into what Huber calls the “3D internet.” He sees the future of the metaverse as creating three-dimensional experiences that can be integrated into regular websites to enhance user engagement.
The United Arab Emirates’ Ministry of Economy launched an office in the metaverse in 2022, demonstrating the country’s commitment to exploring this technology’s potential. Huber pointed out that actions like these show that Middle Eastern governments are focused on diversifying their economies.
“They see cutting-edge technologies like the metaverse, blockchain, and AI as areas where they can lead, invest, and nurture the ecosystem. They’re hosting events, attracting top talent, and supporting companies to start and grow in the region,” Huber explained.
He emphasized that the metaverse is considered a crucial part of their strategy and that their commitment to it is for the long haul, expecting it to remain a focus for many years.
