According to Chalhoub Group’s “GCC State of the Metaverse” research, 48% of luxury customers in the GCC have invested in crypto, 23% have NFTs, and over 80% want to invest more in the next 24 months. This compares to the global average of 5–10% cryptocurrency usage. In July 2022, the Dubai government unveiled a metaverse strategy with the goal of creating 40,000 employment opportunities and adding $4 billion to the economy in five years. Despite the recent bankruptcy of FTX, one of the major cryptocurrency exchanges, the so-called bubble has not burst. Every day, a new startup announces a new crypto, NFT, or metaverse initiative. The overall metaverse sector is presently worth between $40 and $65 billion, with a projected value of $13 trillion by 2030.
Where the world of Metaverse becomes Real
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