Emirates NBD Launches Metaverse Accelerator Program

Emirates NBD launches metaverse accelerator program in collaboration with the DIFC (Dubai International Financial Center) Fintech Hive to launch a metaverse accelerator program for metaverse-based start-ups. The goal of this effort is to improve the user experience for the next digital economy.

Emirates NBD is one of the main banks in the United Arab Emirates.

Emirates NBD Launches Metaverse Accelerator Program

The DIFC Fintech Hive is one of Africa’s, South Asia’s, and the Middle East’s major fintech centers. It also has widespread Microsoft support.

The Emirates NBD’s entry into the metaverse business is marked by this accelerator program. It also positions the bank as a forerunner in the wave of financial innovation.

This is consistent with Dubai’s Metaverse Strategy, which intends to make the country among the top 10 metaverse economies in the world by 2030. Nearly the next five years, the government intends to create over 40,000 virtual employment and increase its GDP by $4 billion.

In addition, Emirates Bank is evaluating developing web 3.0 techniques in order to improve its digital presence and deliver engaging consumer experiences. In the metaverse scene, Emirates NBD is seeking top fintech businesses, metaverse-based start-ups, and growing technological enterprises.

Improvement Of Virtual Environment – Three Areas

Furthermore, the bank would collaborate with these companies to strengthen its presence in the virtual world in three crucial areas.

This involves building the technology stack to facilitate the transition to 3D, developing virtual worlds to enhance the consumer experience, and establishing a decentralized payment system to let users produce, buy, sell, and monetize digital assets.

The DIFC Fintech Hive will also analyze and match Emirates NBD with leading start-ups. This will happen during the course of the ten-week accelerated program.

The program will culminate with a demo day at GITEX, during which the selected applicants will showcase their ideas. They will have the opportunity to collaborate to create appealing user experiences in the future reality.

According to Marwan Hadi, executive VP at Emirates NBD, this project would attract creative start-ups to the country. It would also assist Dubai in becoming a worldwide leader in the virtual space.

Reshaping Financial Services

Hadi went on to say that Emirates NBD is a digital innovation pioneer. The company is eager to collaborate and experiment with tech companies that can assist it in transforming the user experience.

The banking organization, according to the executive VP, will change financial services with extended reality.
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It would also provide users with new experiences in the metaverse economy.

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