According to ChainCatcher news, the UAE is actively promoting the Web3 gaming industry as part of its economic diversification strategy to reduce dependence on oil.
The country's gaming market is valued at $420 million, with 90% of the adult population participating in gaming. Dubai's '2033 Dubai Gaming Plan' aims to contribute $4 billion to GDP by 2030 and create 27,000 job opportunities. The plan focuses on developing an integrated gaming ecosystem with virtual reality (VR), artificial intelligence (AI), and Web3 technology.
The Dubai Multi Commodities Centre (DMCC) has become the core of the Web3 gaming ecosystem, attracting over 100 gaming companies. DMCC supports funding, incubation, and talent recruitment through collaborations with the gaming and cryptocurrency sectors, driving industry innovation and growth.
