The Virtual Assets Regulatory Authority (VARA) of Dubai announced the establishment of a metaverse headquarters in The Sandbox virtual environment. The Sandbox is a blockchain-based 3D open-world game.
Today, Dubai’s Virtual Assets Regulatory Authority (VARA) made its debut in the Metaverse with the establishment of its Metaverse headquarters in the dynamic virtual world of ‘The Sandbox’. The initiative creates a new model to manage and expand Dubai’s government operations
— Hamdan bin Mohammed (@HamdanMohammed) May 3, 2022
VARA’s presence in the Metaverse, will extend Dubai’s services & regulatory power to audiences in an open technological expanse, without constraints or borders. The move marks a new phase in Dubai’s efforts to be a key player in shaping the future of technology & government
— Hamdan bin Mohammed (@HamdanMohammed) May 3, 2022
The action, according to His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Dubai Executive Council, “marks the beginning of a new phase in the Dubai government’s march for the future; one that will have a positive impact in the long run.”
