The metaverse industry has just begun to emerge, but there are countries that are already striving to become the main hubs of the metaverse.
Citi estimates that by 2026 the economy associated with the metaverse could be about $13 trillion, which could affect not only technology players but also the crypto industry.
Economic development will be an advantage for any country that aspires to become the global center of the metaverse. In particular, job growth, an increase in start-ups and foreign direct investment, and improved international trade could further impact economic growth.
Much of the metaverse’s innovation will, of course, largely come from global technology hubs like London or Silicon Valley, experts say. But there are cities in the world that develop the idea of a metauniverse, and also strive at the state strategic level to become the future global centers of the metauniverse.
One of them, as experts noted, could be Shanghai. China’s largest financial and commercial center released a policy paper on July 8 that aimed to become a global leader in metaverse technology.
Shanghai is also aiming to attract over 1,000 blockchain, cryptocurrency, and metaverse companies by 2030, as well as launch over 40,000 virtual jobs.
Dubai could be the next center of the metaverse. The strategy is similar to Shanghai. In addition, Dubai is interested in developing AR, VR, MR, and digital twins.
Guangzhou also claims to be a major center of the metaverse. The city has established a metaverse industrial zone and adopted nine measures to accelerate the development of the local metaverse in terms of human capital, R&D, and technological progress. Guangzhou has also allocated $30 million for the development of small and medium-sized businesses in the metaverse area. In addition, the city aims to create the world’s first metaverse arbitration agency.
