Arab Media Forum: What happens next as metaverse becomes 'new internet'

Though the metaverse is still in its inception stage, some people are already calling it the next internet.

While speaking at the Arab Media Forum on Tuesday, a media expert suggested that the industry will face losses and challenges in the initial stage of adopting this new technology.

Fares Akkad, managing director for Mena at Meta, said there are multiple reasons for the losses.

“We have a global recession challenge. But the Middle East is protected by high oil prices. We are talking about an investment that is not less than five to 10 years (before it gives a return). Investors want to see the metaverse but want profits as well. It is a project that we are committed to because the future internet will be metaverse,” Akkad said during a panel discussion on 'Media and Metaverse'.

Khalfan Belhoul, CEO of Dubai Future Foundation, said there is a need to sit together to regulate this new-age technology.

“We need to hold virtual and physical forums to be able to reach solutions.”

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