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Virtuzone in deal to build V-shaped tower in metaverse

September 14, 2022
real estate

Virtuzone, a leader in company formation and corporate services based in the UAE, has announced plans to build a flagship metaverse office tower in partnership with pax.world, a blockchain metaverse with an early-mover advantage.

Purposefully designed to meet the needs of a burgeoning global digital nomad economy, the ground-breaking metaverse office tower, named The V, will provide an interactive, end-to-end ecosystem for digital nomads, remote workers and global entrepreneurs, said a statement from Virtuzone.

According to Virtuzone, the iconic metaverse skyscraper is meant to attract and provide a virtual headquarters to millions of digital nomads around the world, further foster and strengthen the UAE's digital economy, attract foreign direct investment and cater to the changing needs of today's modern entrepreneurs and remote workers.

The V will house a state-of-the-art virtual office environment offering a host of features that individuals can use simultaneously, such as metaverse avatars, online video conferencing and communication capabilities, virtual meeting rooms, event spaces and town halls, it stated.

The Dubai-based group said V also enables businesses to establish highly tax-efficient legal entities, utilise legal decentralised autonomous organisation (DAO) structures and benefit from real-world office spaces and mailing addresses, backed by a digitalised mail distribution system.

In addition to providing a wholly-digital environment where entrepreneurs can seamlessly connect and network, The V integrates real-world corporate services and business solutions, thus providing a truly global and real-time solution, it added.

On the new venture, CEO George Hojeige said: 'It is our vision as a company to be at the helm of creating a borderless business environment, where geographical boundaries do not exist and entrepreneurs from all over the world enjoy the freedom to do business and transact with one another in a secure environment.'

'Working hand in hand with pax.world signifies our solid commitment to making this a reality and to creating a future filled with possibilities and opportunities for startups, professionals and multinational corporations, especially in the Web 3.0 space,' he stated.

Frank Fitzgerald, Founder of pax.world, said: 'Virtuzone is the perfect partner for our professionally-based metaverse. They will serve as a launch pad for Dubai-based businesses to enter the world of Web3. We are excited and look forward to endless possibilities.'

It comprises key entities such as Virtuzone, which offers free zone and mainland company formation services; and Next Generation Equity, which offers a range of citizenship and residency-by-investment programmes.

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