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Exgoland: Building on Dubai's metaverse vision

Metaverse is a game-changer technology with exponential growth potential. Creating new digital experiences allows businesses to immerse their customers in a virtual world. However, the Metaverse means much more than a gaming platform; it has the potential to enable businesses to sell their products and interact with customers.

Companies can explore these new ways to communicate and collaborate. This gives them the power to build businesses similar to the real world. The Metaverse has applications in every industry, from a VR-enabled clothing store to creating virtual conferencing environments.

Dubai: An emerging leader in the web3 space

Dubai is at the forefront of leveraging the $30 trillion market, working along the Prince's Metaverse Strategy. With this strategy, the government in Dubai expects to create 40,000+ jobs. Plus, it will help generate $4 billion in revenue for the economy by 2030.

The foundation for the strategy is already laid down, with several Web3 companies having their offices opening in Dubai. Some big industry names include Binance, FTX, and Kraken.

These web3 companies are setting up operations in the country. They are here to provide their services to people in the MENA region and worldwide. The ultimate goal of the metaverse strategy is to increase the metaverse's contribution to the extent that it has a 1 per cent share of the country's GDP.

Currently, over 1000 companies belonging to the metaverse and blockchain sector contribute over $500 million to the economy. Even better, Meta, one of the leading organisations in this industry, also has a strategy for expanding the metaverse universe.

Furthermore, Dubai is also planning to build a digital twin city (one human reality) in the virtual world, bringing tremendous opportunities to the industry. The digital twin city's plan was created by Dubai Municipality and revealed at the World Government Summit. The twin city will have computer-generated environments.

The city will have elements of social media, augmented reality, virtual reality, video games, cryptocurrencies along with other technologies. In this city, people can have their avatars interact with each other.

About the city, Dawood Abdul Rahman Al Hajri, director-general of Dubai Municipality said: "One Human Reality is the meeting point or integration between two worlds. The metaverse and the world we are currently living in together. The metaverse today has become closer to reality than we imagined."

Dubai's metaverse strategy relies on five pillars; Government adoption of metaverse technologies, talent development, and a focus on innovation.

Introducing Exgo | Building businesses in the metaverse

Exgoland is one of a kind of metaverse-enabled platform built on the Solana blockchain. As one of the first movers in this industry in the MENA region, Exgoland is creating an environment for businesses to explore the metaverse marketplace, gaming, and digital assets.

Exgoland is a metaverse space boasting a range of unique features and functionalities aimed at solving a series of challenges. They will allow business owners to build, own, and operate businesses in the Metaverse.

In the Metaverse, users can buy land and build businesses on their properties. They can also rent out the land. They have three different land sizes, which are executed with smart contracts. The users can also mint land on the platform.

The members of Exgoland will interact with high-quality and visually appealing interfaces. The motive here is to bring the Metaverse experience to the people. Businesses opening up their shops on the metaverse will benefit from low transaction costs, faster speed, and higher security.

Developing Exgo with Dubai's metaverse strategy

EXGO is a web3.0 company building solutions and services for businesses. As Exgo aims to become a leader in metaverse technology in the MENA region, its strategy aligns with Dubai's metaverse strategy. As the government's strategy unfolds and develops further, Exgo plans to become a key player in realising the potential of this technology.

Deepak Jain is an independent blockchain publicist.