Dubai's VARA Sets Up Metaverse HQ

Brecht Corbeel/Unsplash

Dubai is a city of firsts and VARA (Dubai's Virtual Assets Regulatory Authority) has now given it another crowning feather. 

How: By setting up its headquarters in the Metaverse, it has become the first such regulator/authority in the world to do so. Plus, because it achieved this great feat with just a few mouse clicks and screen taps, it has also won praise from Dubai’s Crown Prince, Sheikh Hamdan bin Mohammed. 

Zooming In

🧭 Borderless audiences, syncing with Dubai’s goals for a de-centralized prototype regulator system. 

🧭 Higher accessibility for all service providers, authorities and the Government.

🧭 Primary MetaHQ channel for engaging virtual asset service providers. They will obtain licenses, share knowledge and drive new applications. 

🧭 The Sandbox platform hosts the MetaHQ. 😭 - Decentraland folks, in the meantime. 

Why it matters

🔖 Services for global audiences without any borders. 

🔖 The first-mover advantage. 

🔖 A new economic space and opportunities. 

That’s not all; watch out for One Human Reality, Dubai Municipality’s upcoming digital twin city.