The Dubai Digital Asset Regulatory Authority, or VARA, has bought land within the digital actuality world The Sandbox (SAND) as a part of its plans to arrange a metaverse headquarters.

In a Tuesday announcement from Emirates information company WAM, VARA stated the metaverse entry was geared toward facilitating “collaborative engagement” between digital asset service suppliers, worldwide regulatory authorities, and business leaders. As well as, the Dubai regulator stated establishing its “MetaHQ” workplace may assist attain “youthful licensees” getting into the digital world.