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How to Get a Metaverse Services License in Dubai

April 1, 2022

Metaverse is the latest buzz that is considered the “future” of digital businesses in the modern tech world. The innovation holds significant potential in developing incredible growth opportunities for businesses irrespective of the industries they operate in.

Are you also considering the transition to the Metaverse but don’t really know how to take the first step into a Metaverse company? Or perhaps, you are all set to enter into the highly emerging world of Metaverse but are concerned about how to get a Metaverse license in Dubai?

The economy of Dubai, UAE is certain to be promising for investors who want to operate the Metaverse business in Dubai. Many companies have already opted to transition to the Metaverse universe in Dubai because of its constantly evolving economy and business-oriented policies as a whole.

Thus, investors or employers in any industry can find numerous Metaverse business opportunities in Dubai with the help of the right business consultancy partner.

What Is Metaverse?

Metaverse is typically a virtual world or a virtually available space featuring digital objects, avatars, functioning economies and more. It has the tremendous potential to change the way people communicate, interact, play, shop and live. It helps people come to virtually available space to build a network, play games, make social connections, shop and work to earn money without any obstacles.

In addition, it can transform the way businesses operate and function despite the nature, size, type and industry. Metaverse is a game-changer when it comes to operating businesses to generate money leaving behind every other technology and evolution.

Metaverse in Dubai

How Does Metaverse Services Works?

The metaverse is the evolving reality however the concept isn’t new. The term “Metaverse” was first coined in a novel titled “Snow Crash” in 1992 by Neal Stephenson. The concept was fairly surprising however many leading companies later developed online communities based on the concept. The core idea was to help people gather in a single virtual space and alter the way they use to live.

As stated, Metaverse services work through a virtual space where people come together to make a community and interact with each other. In addition, in the Metaverse, people use avatars to represent themselves and virtually build out the community. Digital or cryptocurrencies are the Metaverse’s money that is used to buy various items including weapons and shielding in the case of video games. Moreover, users can also travel through the Metaverse space using a virtual reality headset.

Metaverse Services Provider Role

The Metaverse is being anticipated as the future of the internet, encompassing the convergence of virtual reality (VR), augmented reality (AR), and physical worlds in a virtual space. Businesses operating in any area including decentralized hosting, business industry, entertainment industry, decentralized social media platforms, virtual goods (NFTs), gaming and more will act not only as a service provider but there is more to observe. Metaverse services providers will act as a channel to help people cooperate, build and strengthen their networks with other people around the globe.

Metaverse Services License in Dubai

The Metaverse services license is a must to obtain for those who want to develop and host virtual environments or businesses in Dubai, UAE. A credible business setup consultancy like Avyanco can help you streamline the entire process from initial planning to acquiring a license from the regulatory authority to starting off with your business seamlessly.

Cost of Starting a Metaverse License in Dubai

The total cost of Metaverse services license in Dubai differs significantly and range as little as AED 14999 to AED 26 395.

Fees Breakdown:

Cost NameFees AED
Initial Approval120
Trade Name620
Tasheel Local Service Agent350
Tasheel Preapproval345
License Fee6960
Foreign Trade2000
Corporate PRO + Financial Advisory10 000
Local Agent6 000
Total Metaverse License Cost26 395 AED

Hence, get in touch with the reliable business setup consultancy service to know more about Metaverse License cost in Dubai.

Benefits of Starting Metaverse Services in Dubai

Companies around the world are gearing up to provide digital services through the virtually available space Metaverse. All startups, small, medium and large scale enterprises are pursuing constructive businesses opportunities within the Metaverse. For many, the Metaverse company in Dubai is likely to be a rick dimension in which to take creative initiatives, experiment, establish businesses, develop leadership. Grow communities, train employees and more. Despite these, a few optimal benefits of operating a business in Metaverse are mentioned underneath.

  • Metaverse isn’t just about a B2C platform. Rather, it is the kind of platform that will not only benefit business-to-consumer environments but will provide incredible opportunities for B2B organizations as well.
  • In the metaverse, users using the technology and the virtual space can test or experiment with the products at lower costs.
  • Businesses that are more adaptive to technology will be able to lower their production costs and maximize revenues.
  • The platform is expected to exceptionally enlarge access to the global marketplace for potential consumers to help them obtain goods and services that were previously out of reach.
  • Metaverse isn’t only a business-oriented platform but it will help people find better job opportunities as well. Imagine getting a job in an organization operating in Dubai, without having to emigrate.
  • There would be clear governance in the Metaverse helping in lessen the risks associated with operating a business.
  • Above all, Metaverse is the opportunity to scale your business all around the world without the need to have franchises in each city or location. You might develop a global hub in the Metaverse that facilitates trillions of people.

NFT and Metaverse Business in Dubai

Metaverse is booming – building a universe of opportunities for businesses. Hence, plenty of emerging technologies has come together to boost the new “tech normal” and promote its vision. Virtual reality (VR) and Augmented reality (AR) headsets have become more influential in enhancing user experience. In addition, blockchain has enabled cryptocurrencies and non-fungible tokens (NFTs). The innovative mechanism to purchase, sell, make transactions and own digital goods are enabling people to monetize their activities through digital tokens like NFTs.

Metaverse after getting linked with technologies like blockchain is considered an NFT-powered platform. Users on the virtual space can purchase or own things, products and items like land, avatars, digital apparel and more across the platform through digital or crypto-tokens like NFTs.

How to List NFT in Metaverse?

NFTs are digital assets that are indivisible, unique and exclusive. Created on blockchain technology, NFTs depict exclusive ownership representing the sole owner. From the gaming industry to artwork, these digital tokens are making a massive impact in the Metaverse. Here’s how you can list your NFTs.

  • You can create any sort of NFT ranging from a song to music to video to an image or painting – or literally anything that you want to create and sell to generate money.
  • Among numerous, decide on the marketplace. You may choose OpenSea as this is user-friendly and one of the most popular marketplaces for NFTs.
  • After creating your NFT, present it to the community to increase its worth and value.
  • Start marketing your NFT to reach a potential buyer.

How Avyanco Can Help You Starting Metaverse Business Services in Dubai?

Avyanco is the leading business setup consultancy in Dubai, UAE helping hundreds of startups to successfully establish their business and grow flawlessly. Setting up a Metaverse company might come with various challenges like how to start a Metaverse business in Dubai, how to recognize your target audience, ways to streamline the whole process and above all how to get a license in Dubai.

Avyanco is all and well capable of helping you understand market opportunities for your business, know your niche, assess competitors, create effective marketing strategies, learn NFTs and Metaverse and more. Besides this, Avyanco will help you obtain a Metaverse business license in Dubai, UAE for a smooth transition of your business into the incredible Metaverse.

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