RIYADH: MetaIncubator, the first Metaverse incubator in the Middle East, started operations at the Dubai World Trade Center, known as DWTC.
MetaIncubator aims to support early stage projects at the DWTC, which provides engineering, tokenomics, marketing, and investment services to startups.
DWTC has become a comprehensive district and regulator for virtual assets and crypto.
“MetaIncubator will join that effort to help build the Metaverse and Web3 ecosystems in Dubai. Its plan is to start with Dubai and serve the UAE and then continue to all GCC countries,” Sam Lai, the founder and CEO of MetaIncubator said.
Metaverse is a network of 3D virtual worlds focused on social connection.
Lai added: “It will help attract foreign Metaverse and Web3 projects to move into the region in order to help double the size of UAE’s digital economy from its current worth of over 100 billion dirhams.
“Achieving sustainability through high-tech job creation, honing talents, and foreign investments and potentially make UAE the top Metaverse and Web3 development center in the world.”
“We are very technology-driven when picking startups and hope to leverage our extensive experience in startup building and investing to curate the best Metaverse and Web3 projects that pass through the Dubai ecosystem and help them grow not just locally but also internationally,” the CEO added.