Dubai Municipality announced plans to collaborate with private sector companies and investors to develop a futuristic, human-centered version of the city that capitalises on opportunities created by the metaverse.
During a plenary on Tuesday at the World Government Summit 2022 (WGS2022) at Expo 2020 Dubai, Dubai Municipality Director General Dawood Abdul Rahman Al Hajri introduced the One Human Reality concept to delegates. "One Human Reality is the meeting point or integration of two worlds: the metaverse and the world we are currently living in together," he explained during a session titled "Operating Cities of Tomorrow."
The metaverse is a virtual-reality environment in which users interact with computer-generated environments and other users. It combines elements of social media, augmented reality, virtual reality, video games, cryptocurrencies, and other advanced technologies in its broadest sense. According to Bloomberg Intelligence, the metaverse could generate nearly $800 billion in revenue by 2024 as the next big market opportunity.