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DAMAC’s parent company unveils $100m plans to enter metaverse

DAMAC’s parent company unveils $100m plans to enter metaverse
Damac
DAMAC
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UAE - Mubasher: UAE-based DAMAC Group, the parent company of the listed Damac Properties Dubai Copmany, has announced plans to launch its digital products including virtual homes, property, and jewellery in the metaverse world.

The group intends to invest up to $100 million in the metaverse project, which comes in line with its vision to become a global digital brand, according to a press release on Monday.

Through this plan, DAMAC will become one of the pioneers in the GCC counties to enter this virtual community.

Founder of DAMAC, Hussain Sajwani, said: “We are keen to pioneer the possibilities that the metaverse offers in ways which allow us to be more connected and involved with our customers and their interests.”