UAE entity launches first Metaverse Incubator in Middle East

UAE entity, MetaIncubator, launches the first Metaverse Incubator in the Middle East with the goal to incubate early-stage Metaverse and Web3 projects. As per their announcement, MetaIncubator aligns with the Dubai government's digital strategy and provides engineering, tokenomics, marketing, and investment services to startups. It also helps startups that want to get into the growing MENA regions. The Metaverse Incubator aims to make Dubai the leader in the Metaverse industry.

Sam Lai, Founder and CEO of MetaIncubator states "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 expand to all GCC countries. 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 AED 100 billion. 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. UAE and Dubai actually have most of the successful elements, such as very open support for innovation and technologies, and a wonderful city lifestyle that business professionals and software developers love."

"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. Most importantly, I am personally very excited to work with eager and committed startup founders that build something not only change the world but, more importantly, make it better. Meshing the latest technologies and innovative business models and building along audacity founders make me excited to go to work every day." added Sam.

Metaverse entities have already started to set up base in the UAE including names such RFOX and others. The Metaverse market is currently worth 68 billion USD.