Some say it’s a gimmick for the island nation to buy a plot of land in Decentraland. But they’re not thinking big enough, says CoinDesk’s chief content officer. The metaverse has plenty of promise for governments.
The island nation of Barbados is preparing to legally declare digital real estate sovereign land by establishing a metaverse embassy. Barbados Ambassador to the United Arab Emirates Gabriel Abed shares insights into the initiative. What does it mean to have an embassy in the metaverse? How will Barbadians use it and benefit from it?
The Barbadian Ministry of Foreign Affairs and Foreign Trade has signed an agreement with the popular crypto-powered digital world Decentraland to establish a digital embassy. “The Hash” hosts discuss Barbados working to develop digital sovereign land in what could be seen as a historic step toward the legitimization of the metaverse.