I 4 Arab Companies Entering The Metaverse

The metaverse—a digital universe made up of virtual, augmented, and extended reality—is a space in which people, represented by avatars or three-dimensional likenesses, can interact in virtual worlds. These are some of the Arab companies that have announced metaverse plans this year.

Emirates Airlines announced in April 2022 its plans to build brand experiences in the metaverse, alongside both collectible and utilitybased NFTs. The airline is working to turn its pavilion at the Expo 2020 Dubai site into an innovation center for future-focused projects, including those related to the metaverse, NFTs and Web3. In 2021, Emirates became the first airline to launch its own VR app, offering users cabin interior experiences onboard the carrier’s A380 and Boeing 777-300ER aircraft.

In April 2022, luxury goods retailer the Chalhoub Group entered the metaverse when one of its companies, French luxury tableware brand Christofle, launched its first NFT collection “925 Genesis MOOD.” The collection is housed in an imaginary city called “The City of Christofle Silversmithing.” On May 7, 529 artistic NFTs were made available. The virtual city takes visitors on a journey through key milestones and creative storytelling relating to the 200-year-old Christofle Paris luxury maison, which was bought by the Chalhoub Group in 2012.

The NEOM Tech & Digital Company was founded in 2021 as the first subsidiary of NEOM, a new technology-based region being developed by Saudi Arabia. In February 2022, it announced that it would be creating a 3D cognitive digital twin metaverse platform called XVRS. Combining digital and physical architectures, XVRS will enable users to be present in different locations across the metaverse in real-time as an avatar or hologram. The NEOM Tech & Digital Company says it plans to invest nearly $1 billion into AI-driven products and hyperconnected, autonomous solutions.

Dubai-based real estate brokerage Union Square House announced in April its plan to roll out metaverse mansions in MENA in 2022. The metaverse properties will be available for buyers as NFTs, with or without their real-world counterparts. The digital mansions will allow buyers to see their digital properties using Augmented Reality, and interact with other people, including their digital neighbors.