Dubai and Decentraland have collaborated to build their very own virtual shopping mall, Mall of the Metaverse. “Who are seeking increased digital experiences across retail, entertainment, and leisure offerings” will be the target audience for the mall. A recent announcement made at the World Government Summit states that this is the case.
Majid Al Futtaim, a well-known mall chain, will be represented by the Mall of the Metaverse, albeit in Web3 space. Before it is made available to online shoppers, several tests will be run after development is finished. Using their Web3 avatars, visitors will be able to go inside the mall and shop for top brands like Carrefour, Samsung Store, VOX Cinemas, Ghawali, and THAT Concept Store. The number of accessible brands and other exciting features will be added over time.
The virtual mall is currently in its early stages of development as the project team evaluates what potential customers might want and anticipate from it. Khalifa bin Braik, Majid Al Futtaim Asset Management’s CEO, claims that the mall will be the most popular destination for shopping and entertainment. As a result, he anticipates that it will “hugely attract customers who crave digital experiences from their most beloved brands.”
Dubai’s most recent Web3 project is The Metaverse Mall
It turns out that the Metaverse’s increased demand for digital experiences is the basis for Majid’s call for a virtual mall. At least, that’s how Majid Al Futtaim Shopping Malls’ director of omnichannel and digital, Fatima Zada feels about it.
“We work to leverage behavioral science and data to deliver customers what they want and desire,” she writes in a statement. Mall of the Metaverse is a fully-fledged project that is one step ahead of online shopping thanks to our swift consumer observations, an action plan, and a series of testing stages.
The UAE has been working hard through a variety of initiatives to establish itself on Web3 at the time of this news. Dubai is thought to have a Metaverse strategy that, by 2028, will support over 40,000 virtual jobs and bring in over $4 billion to the economy.
