Elevating Metaverse Gaming: A Tech Startup In Dubai Has Raised $1.5 Million

HomeNFTElevating Metaverse Gaming: A Tech Startup In Dubai Has Raised $1.5 Million

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Last Updated on January 29, 2024 by newseditor

The introduction of virtual reality (VR)-powered metaverse gaming has generated widespread excitement in the gaming community. According to the most recent statistics compiled by industry analysts, the total value of the worldwide metaverse market is anticipated to reach $1,527.55 billion by the year 2029. This expansion fuels the rising popularity of AR/VR-based online video games. The Middle Eastern gaming market has excellent potential due to the region’s vibrant and tech-savvy population.

To ensure the continued success of its gaming and esports sector, Abu Dhabi is creating infrastructure. Abu Dhabi is becoming more attractive to video game companies looking to expand their operations. In addition, Rekt Studios, a tech startup in Dubai, has also secured $1.5 million from Cypher Capital. Soon, the tech startup plans to introduce its first metaverse game.

Giving People In The Middle East A Unique Ecosystem To Play Virtual Reality Games

The crypto game studio, Rekt, seeks to create a distinct and readily available gaming environment in the Middle East. This will position the region as a global leader in this industry. Rekt Studios is an innovative product development and technology consulting firm focusing on blockchain and cutting-edge technologies. It is geared toward making Web3 games and interactive experiences that are as realistic and dynamic as possible. With a focus on metaverse gaming, entertainment, and practical applications, Rekt is building a decentralized, completely interoperable virtual environment. The tech startup will enable users to develop, sell, purchase, and invest in digital experiences and assets.

The Game Industry’s Exposure To The Metaverse And Blockchain

Adopting cutting-edge technologies like VR/AR and the metaverse will increase the gaming industry’s prominence. The metaverse will revolutionize how virtual reality games are played and monetized. Microtransactions inside games are also being revolutionized by blockchain technology, shaking up and reviving the gaming market as a whole. Numerous innovative play-to-earn gaming structures that include real-world asset ownership are appearing on the market. The combination of NFT technology with blockchain makes it possible for players to acquire and trade virtual items for real money. Dubai and the other emirates have implemented several measures to incorporate the metaverse into UAE’s culture and economy, offering a massive boost to metaverse gaming, generating jobs, and increasing the emirate’s economy.

Stepping Away From The Magic Of Entertainment

As technology improves, games are being utilized for more than just fun. Virtual reality games are being used for teaching and learning. More people like gamers and artists are becoming involved, and the market will likely expand dramatically over the next several years. It will also be a significant pull factor for bringing people who make games and interactive content to the Middle East region. There has been a shift in how people engage in gaming. During the height of the epidemic, there was a meteoric spike in interest in gamified learning. Increasing numbers of crypto gaming studios are betting on the future success of this genre.

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