WMC Strategic Partner for Saudi-based Metaverse Event

The organizing committee for the Metaverse Discovery Conference chose the World Metaverse Council (WMC) to be a strategic partner. The first edition of the Metaverse Discovery Conference will be held on June 8 at Crowne Plaza Riyadh RDC, according to Al Riyadh Newspaper.

Metaverse and crypto experts from New York, California, Cairo, Berlin, Dubai, Seoul, and Edinburgh will take part in the event. The day will feature everything from live demos to mind-blowing talks on fields like healthcare, sustainability, tourism and entertainment, smart cities, development and construction, finance, government services, and retail.

In this regard, Interim Chair of the World Metaverse Council Jane Thomason expressed her happiness for holding the council’s executive committee working group in the Saudi capital, hailing the selection of the Kingdom for holding the conference because it is one of the first countries to adopt the metaverse world in many sectors.

The event will also witness the holding of the World Metaverse Awards, under which a committee of experts will evaluate and assess the projects submitted to it. A short-list of potential winners will be revealed before the upcoming event.

In March, the Gulf country hosted the first edition of the International Telecommunication Union (ITU) forum on embracing the metaverse.

The metaverse is expected to contribute $15 billion to the economies of the Gulf countries by 2030 given that their governments are tapping into the virtual space, according to a study by Strategy&, a management consulting company.

Saudi Arabia topped the GCC countries in terms of metaverse contributions, as it is predicted to account for $7.6 billion by 2030 (more than half of the figure. While, the UAE came second with an expected share of $3.3 billion. The predicted figures reflect the two countries’ tremendous efforts to deploy the usage of the metaverse in their respective national program, the report noted.