From the realm of science fiction to the forefront of technological innovation, the metaverse is a concept that has captivated the imaginations of many. The shared virtual space is a game-changer for individuals and businesses alike. Sandra Helou, co-founder and Chief Commercial Officer at Metapolis, the world’s first Metaverse-as-a-Service platform, shares her insight on the growing potential of the virtual world.

As one of the most prominent figures in web3 development, Helou is highly active in the field and on the international speaking circuit. She is recently included in Global Village Publishing’s “Women of the Future”, a ranking of the top female change-makers in Web3 and the metaverse. Helou was the head of metaverse and NFTs at leading blockchain company Zilliqa before her latest venture Metapolis.

Sandra Helou, Co-founder and Chief Commercial Officer at Metapolis.

According to various analysts, the current worth of the metaverse is around $40-65 billion and is expected to reach $13 trillion by 2030. Dubai has announced a foreseeable increase of $4 billion in its GDP in the next 5 years thanks to metaverse initiatives.

“If we look at the Middle East and the buying and spending power found within the region, we already know that crypto adoption is relatively high at 48 percent,” Helou says. “Market penetration of the metaverse and NFTs through ownership and users is around 26 percent with more interest shown for adoption, thanks to favorable regulations and funding provided ($553 million October 2022) for innovators and web3 businesses,” Helou adds. She also suggested that the 23.5 million gamers in Saudi Arabia are easy conversion into the metaverse and NFT space if brands implement proper use cases and strategies.

According to Helou, the growing interest in the virtual world is natural in a world where humans have become digital natives and adapted to both a physical and digital world. The metaverse and web3 are simply helping bring the two worlds together seamlessly through technology such as AR, VR, IoT, AI, NFTs, and blockchain.

The Middle East has lots of opportunities with the growth of the metaverse. “By building a metaverse that reflects local cultures and traditions, we can create content that resonates with consumers and drives mass adoption,” Helou points out. “The metaverse offers multiple engagement models and incentivization options in an immersive environment. And through personalization, the metaverse can adapt to individual preferences for an enjoyable journey.”

Helou also sees the opportunities lie in the job sector, she thinks that as demand grows for skills such as 3D modeling and development, upskilling will be necessary to work with regional startups and drive innovation.  The creator economy is evolving to incentivize collaboration between individuals, brands, and communities. The creativity in the region will drive the creation of NFTs for art and product design to populate the metaverse. “We have already seen luxury within the Middle East playing a big role in the adoption of the technology and being one of the main key drivers in testing and experimenting,” Helou adds.

With its immersive, 3D environments, the metaverse opens up new opportunities for socialization, education, and entertainment. For businesses, it provides a unique platform for product promotion and consumer engagement. The metaverse is a hotbed of creativity and entrepreneurship, with developers and creators building digital assets and launching businesses within this dynamic virtual realm. As the metaverse gains momentum, it is poised to become an integral part of our digital lives in the not-too-distant future.

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