Put on your virtual reality headsets and enter a new dimension.
That is the message that Shaffra, a metaverse-as-a-service platform, has been trying to get across the UAE and the wider Gulf region.
The start-up is focusing on how corporates and large entities such as government agencies can benefit from using the metaverse technology today.
It has its offices at the Dubai International Financial Centre Innovation Hub – the largest cluster of FinTech and innovation companies in the region.
Metaverse-as-a-service, or MaaS, can simply be described as an enterprise solution that will enable businesses to penetrate the metaverse with their own virtual worlds for various uses.
Shaffra’s 3D engine offers an affordable solution for government agencies and corporates to build their own virtual worlds, thereby simplifying the process of entering the metaverse for everyone.
With its immersive interface, Shaffra says its aim is to transform the traditional ways of engaging with customers in a virtual space.
Through the start-up's 3D technology, users can interact and collaborate with each other and with digital assets in real time.
“Our platform empowers organisations to deliver a more engaging and memorable experience for their customers, employees and partners,” says Alfred Manasseh, one of the three founders and Shaffra’s chief metaverse and operating officer.
With a customised metaverse platform, organisations can “reach new audiences”, he says.
They can also “increase engagement” as well as “offer new and exciting experiences” while scaling their business and keeping operations cost-effective.
The idea for Shaffra, which means “code” in Arabic, came about when one of Mr Manasseh’s customers from his side business – a legal advisory firm – was looking to get a crypto licence in the UAE.
“That’s when I reached out to my university friends of 20 years – we studied together in Canada – and we decided to create a crypto exchange,” says Mr Manasseh, 37, a Lebanese national
“But then we thought about how we were going to really differentiate ourselves from the other major crypto exchanges that are out there. At the time, it was mainly Binance and Coinbase, and there were a few local start-ups as well.”
They decided to use the different types of metaverse technology for businesses and corporates “because there is nothing really out there of the sort”, he says.
“The crypto exchange is still on our mind, but then it can become part of our overall or overarching solution. So at that point, we completely pivoted our start-up idea,” he adds.
The company was registered with the DIFC Innovation hub, which allowed it to seek investors.
As is the case with any start-up journey, the beginning was tough for Shaffra, too.
“I don't know how many VCs [venture capitalists] or how many investors we met. It was about the same time when there was a major crypto winter, a major crypto crash, so anything that was emerging tech and new, and anything that was related to the metaverse, was considered risky. We were getting turned down a lot,” says Mr Manasseh.
The company then started tapping into the ecosystem of the UAE government sector.
“There was the whole government initiative in terms of the Dubai Metaverse Strategy. And then, we started hearing about Abu Dhabi – what they’re doing in this domain,” says Mr Manasseh.
The metaverse can potentially contribute about $15 billion to GCC economies by 2030, with Dubai alone expected to generate $4 billion and create 40,000 new jobs within the next five years, according to PwC. Dubai launched its metaverse strategy in July 2022.
This growth is driven by factors such as increasing internet penetration, rising demand for virtual events and conferences, and the growing popularity of gaming and social media, the consultancy says.
According to Gartner, by 2026 at least 25 per cent of people will spend a minimum of one hour every day in the metaverse for different purposes such as work, shopping, education and even entertainment.
In December last year, Shaffra managed to attract investment of $220,000 from an accelerator that is funded by regional start-up accelerator programme Flat6Labs Abu Dhabi, according to Mr Manasseh.
“That allowed us to start working on our MVP [minimum viable product],” he says.
In March, Shaffra won its first bid to build the metaverse for the Abu Dhabi Department of Culture and Tourism, following which, the company got a lot of interest from Saudi investors.
The company is now in the process of wrapping up its seed round, or pre-series A round, of funding of about $1.5 million.
It aims to close the round by the first quarter of 2024, and has set a valuation target of $100 million.
Omantel, the largest mobile operator in Oman, is other company in the region that Shaffra is working with.
“Investors in this region come with a vision, and that’s what I like about them,” Mr Manasseh says.
“Our pipeline is growing strongly, though when we first started, we understood that adoption is a big issue here in the region.
“The way we look at it is that the metaverse should really be an extension of the business’s operations. We don’t want to reinvent the wheel or recreate things that are already out there. We want to integrate whatever solution is out there and enhance the experience of the users.”
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Shaffra is initially focusing on governments and large corporates. With two customers in its fold, the company is in active negotiations with many more.
“By the end of this year, we would be having between seven and 10 active customers, ranging from different telecoms, different government departments and in the banking and events sector as well, Mr Manasseh says.
“Initially, those customers are going to enable us to build the features required for specific industries … The same goes for banks, for police departments, and for any kind of service-orientated industry.”
He says that the company, which works on a monthly subscription fee ranging from $5,000 to $15,000 a month, will start to become profitable and self-sustaining once it crosses the 10 client-mark.
Going ahead, Shaffra plans to launch its operations in Saudi Arabia. “We have very good traction in terms of sales pipeline in Saudi Arabia. The same goes for Oman,” Mr Manasseh says.
The company is also in the process of filing its patents in the US, he adds.
The next venture Shaffra plans to tap into is the gaming industry.
“What we focus on is ease of access. So, we built our engine to be used on many devices, be it on the web browser, on a VR headset, on a desktop or on a mobile application. Our USP [unique selling proposition] is flexibility of hosting,” says Mr Manasseh.
“No platform is truly as device agnostic as ours.”
Q&A with Alfred Manasseh co-founder and chief operating officer of Shaffra
What other successful start-up do you wish you had started?
I've always been fascinated by Tesla's vision and their dedication to sustainable energy. If I could have been a part of any other venture, Tesla would be a top pick. Their approach to integrating cutting-edge technology with sustainability truly resonates with me.
What is your next big dream to make happen?
My next significant ambition is to democratise global talent access and revolutionise the learning landscape through the metaverse and AI. I envision a world where geographical boundaries become irrelevant, and anyone, from any corner of the globe, can have access to top-tier education and skill development opportunities.
By integrating Shaffra's metaverse technology and advanced AI tools, we can create hyper-realistic, interactive and personalised learning environments. This not only makes education more immersive but also tailors the experience to individual learning styles and paces. My dream is to bridge the global knowledge gap, ensuring that everyone, regardless of their location or background, has the tools and opportunities to reach their full potential.
What new skills have you learnt since launching Shaffra?
Launching Shaffra has been a transformative journey for me. Beyond enhancing my technical knowledge and understanding of the metaverse, I've learnt the importance of resilience, adaptability, and cultivating a customer-first mindset.
Every day brings new challenges, and going through the evolving metaverse landscape has tuned my skills in strategic planning and visionary thinking.
If you could start all over again, what would you do differently?
If I had the chance to begin our journey with Shaffra anew, I would prioritise developing parallel solutions – one focusing on government-centric applications and the other on our Shaffra builder tool for democratising metaverse access.
Who is your role model?
Leonardo da Vinci. A polymath! He merged art, science, engineering, and imagination in ways no one had ever done. In many ways, the metaverse is our modern-day canvas, combining arts, science, and engineering in ways that are only limited by our own imagination.
Where do you want to be in five years?
In five years, I see Shaffra becoming the go-to platform for metaverse integrations across industries. Personally, I aim to be at the forefront of metaverse evolution, contributing to research, development, and building a global community around this technology.
What is your advice for aspiring entrepreneurs?
My advice to aspiring entrepreneurs is to remain relentlessly curious and adaptable. The business landscape is dynamic and the only constant is change. Also, always remember why you started your journey; your passion and vision will serve as your guiding light during turbulent times.
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
Mohammed bin Zayed Majlis
Zayed Sustainability Prize
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Key recommendations
- Fewer criminals put behind bars and more to serve sentences in the community, with short sentences scrapped and many inmates released earlier.
- Greater use of curfews and exclusion zones to deliver tougher supervision than ever on criminals.
- Explore wider powers for judges to punish offenders by blocking them from attending football matches, banning them from driving or travelling abroad through an expansion of ‘ancillary orders’.
- More Intensive Supervision Courts to tackle the root causes of crime such as alcohol and drug abuse – forcing repeat offenders to take part in tough treatment programmes or face prison.
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
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The five pillars of Islam
1. Fasting
2. Prayer
3. Hajj
4. Shahada
5. Zakat
Three trading apps to try
Sharad Nair recommends three investment apps for UAE residents:
- For beginners or people who want to start investing with limited capital, Mr Nair suggests eToro. “The low fees and low minimum balance requirements make the platform more accessible,” he says. “The user interface is straightforward to understand and operate, while its social element may help ease beginners into the idea of investing money by looking to a virtual community.”
- If you’re an experienced investor, and have $10,000 or more to invest, consider Saxo Bank. “Saxo Bank offers a more comprehensive trading platform with advanced features and insight for more experienced users. It offers a more personalised approach to opening and operating an account on their platform,” he says.
- Finally, StashAway could work for those who want a hands-off approach to their investing. “It removes one of the biggest challenges for novice traders: picking the securities in their portfolio,” Mr Nair says. “A goal-based approach or view towards investing can help motivate residents who may usually shy away from investment platforms.”
Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
SPECS
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Our legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants
The five pillars of Islam
UAE currency: the story behind the money in your pockets
UAE currency: the story behind the money in your pockets
Two-step truce
The UN-brokered ceasefire deal for Hodeidah will be implemented in two stages, with the first to be completed before the New Year begins, according to the Arab Coalition supporting the Yemeni government.
By midnight on December 31, the Houthi rebels will have to withdraw from the ports of Hodeidah, Ras Issa and Al Saqef, coalition officials told The National.
The second stage will be the complete withdrawal of all pro-government forces and rebels from Hodeidah city, to be completed by midnight on January 7.
The process is to be overseen by a Redeployment Co-ordination Committee (RCC) comprising UN monitors and representatives of the government and the rebels.
The agreement also calls the deployment of UN-supervised neutral forces in the city and the establishment of humanitarian corridors to ensure distribution of aid across the country.
Guns N’ Roses’s last gig before Abu Dhabi was in Hong Kong on November 21. We were there – and here’s what they played, and in what order. You were warned.
- It’s So Easy
- Mr Brownstone
- Chinese Democracy
- Welcome to the Jungle
- Double Talkin’ Jive
- Better
- Estranged
- Live and Let Die (Wings cover)
- Slither (Velvet Revolver cover)
- Rocket Queen
- You Could Be Mine
- Shadow of Your Love
- Attitude (Misfits cover)
- Civil War
- Coma
- Love Theme from The Godfather (movie cover)
- Sweet Child O’ Mine
- Wichita Lineman (Jimmy Webb cover)
- Wish You Were Here (instrumental Pink Floyd cover)
- November Rain
- Black Hole Sun (Soundgarden cover)
- Knockin’ on Heaven’s Door (Bob Dylan cover)
- Nightrain
Encore:
- Patience
- Don’t Cry
- The Seeker (The Who cover)
- Paradise City
The specs
Engine: 4.0-litre flat-six
Torque: 450Nm at 6,100rpm
Transmission: 7-speed PDK auto or 6-speed manual
Fuel economy, combined: 13.8L/100km
On sale: Available to order now
Mohammed bin Zayed Majlis
The five pillars of Islam
Frida%20
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Jordan cabinet changes
In
- Raed Mozafar Abu Al Saoud, Minister of Water and Irrigation
- Dr Bassam Samir Al Talhouni, Minister of Justice
- Majd Mohamed Shoueikeh, State Minister of Development of Foundation Performance
- Azmi Mahmud Mohafaza, Minister of Education and Minister of Higher Education and Scientific Research
- Falah Abdalla Al Ammoush, Minister of Public Works and Housing
- Basma Moussa Ishakat, Minister of Social Development
- Dr Ghazi Monawar Al Zein, Minister of Health
- Ibrahim Sobhi Alshahahede, Minister of Agriculture and Minister of Environment
- Dr Mohamed Suleiman Aburamman, Minister of Culture and Minister of Youth
Out
- Dr Adel Issa Al Tawissi, Minister of High Education and Scientific Research
- Hala Noaman “Basiso Lattouf”, Minister of Social Development
- Dr Mahmud Yassin Al Sheyab, Minister of Health
- Yahya Moussa Kasbi, Minister of Public Works and Housing
- Nayef Hamidi Al Fayez, Minister of Environment
- Majd Mohamed Shoueika, Minister of Public Sector Development
- Khalid Moussa Al Huneifat, Minister of Agriculture
- Dr Awad Abu Jarad Al Mushakiba, Minister of Justice
- Mounir Moussa Ouwais, Minister of Water and Agriculture
- Dr Azmi Mahmud Mohafaza, Minister of Education
- Mokarram Mustafa Al Kaysi, Minister of Youth
- Basma Mohamed Al Nousour, Minister of Culture
In numbers: PKK’s money network in Europe
Germany: PKK collectors typically bring in $18 million in cash a year – amount has trebled since 2010
Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille
Extortion: Gunman convicted in 2023 of demanding $10,000 from Kurdish businessman in Stockholm
Drug trade: PKK income claimed by Turkish anti-drugs force in 2024 to be as high as $500 million a year
Denmark: PKK one of two terrorist groups along with Iranian separatists ASMLA to raise “two-digit million amounts”
Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners
TV channel: Kurdish Roj TV accounts frozen and went bankrupt after Denmark fined it more than $1 million over PKK links in 2013
ABU%20DHABI'S%20KEY%20TOURISM%20GOALS%3A%20BY%20THE%20NUMBERS
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The biog
Siblings: five brothers and one sister
Education: Bachelors in Political Science at the University of Minnesota
Interests: Swimming, tennis and the gym
Favourite place: UAE
Favourite packet food on the trip: pasta primavera
What he did to pass the time during the trip: listen to audio books
The five pillars of Islam
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Killing of Qassem Suleimani
Defence review at a glance
• Increase defence spending to 2.5% of GDP by 2027 but given “turbulent times it may be necessary to go faster”
• Prioritise a shift towards working with AI and autonomous systems
• Invest in the resilience of military space systems.
• Number of active reserves should be increased by 20%
• More F-35 fighter jets required in the next decade
• New “hybrid Navy” with AUKUS submarines and autonomous vessels
AUSTRALIA SQUAD
Aaron Finch, Matt Renshaw, Brendan Doggett, Michael Neser, Usman Khawaja, Shaun Marsh, Mitchell Marsh, Tim Paine (captain), Travis Head, Marnus Labuschagne, Nathan Lyon, Jon Holland, Ashton Agar, Mitchell Starc, Peter Siddle
Killing of Qassem Suleimani
MISSION: IMPOSSIBLE – FINAL RECKONING
Director: Christopher McQuarrie
Starring: Tom Cruise, Hayley Atwell, Simon Pegg
Rating: 4/5
Business Insights
- As per the document, there are six filing options, including choosing to report on a realisation basis and transitional rules for pre-tax period gains or losses.
- SMEs with revenue below Dh3 million per annum can opt for transitional relief until 2026, treating them as having no taxable income.
- Larger entities have specific provisions for asset and liability movements, business restructuring, and handling foreign permanent establishments.
Country-size land deals
US interest in purchasing territory is not as outlandish as it sounds. Here's a look at some big land transactions between nations:
Louisiana Purchase
If Donald Trump is one who aims to broker "a deal of the century", then this was the "deal of the 19th Century". In 1803, the US nearly doubled in size when it bought 2,140,000 square kilometres from France for $15 million.
Florida Purchase Treaty
The US courted Spain for Florida for years. Spain eventually realised its burden in holding on to the territory and in 1819 effectively ceded it to America in a wider border treaty.
Alaska purchase
America's spending spree continued in 1867 when it acquired 1,518,800 km2 of Alaskan land from Russia for $7.2m. Critics panned the government for buying "useless land".
The Philippines
At the end of the Spanish-American War, a provision in the 1898 Treaty of Paris saw Spain surrender the Philippines for a payment of $20 million.
US Virgin Islands
It's not like a US president has never reached a deal with Denmark before. In 1917 the US purchased the Danish West Indies for $25m and renamed them the US Virgin Islands.
Gwadar
The most recent sovereign land purchase was in 1958 when Pakistan bought the southwestern port of Gwadar from Oman for 5.5bn Pakistan rupees.
The burning issue
The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.
Read part four: an affection for classic cars lives on
Read part three: the age of the electric vehicle begins
Read part one: how cars came to the UAE
Emergency
Director: Kangana Ranaut
Stars: Kangana Ranaut, Anupam Kher, Shreyas Talpade, Milind Soman, Mahima Chaudhry
Rating: 2/5
Mohammed bin Zayed Majlis
COMPANY%20PROFILE
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