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Telefonica to Invest in Metaverse Through Gamium

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Telefonica, one of the largest communications companies in Spain, has decided to invest in Gamium, intensifying the promotion of its metaverse. The company will contribute an undisclosed amount of funds to this metaverse initiative through Wayra, its innovation-driven incubator. The company is also partnering with Meta to create a metaverse innovation hub for startups.

Telefonica invests in Spanish Metaverse Gamium

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Metaverse initiatives have become popular for the companies and venture capitalists they invest in during this market downturn. Telefonica, one of the largest telecommunications companies in Spain, announced he will strengthen his investment in the metaverse by supporting Gamium, a Spanish virtual world initiative. This Barcelona-based company has raised a million euros by selling land on its platform in just ten days and is touted as the first decentralized metaverse.

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The investment, an undisclosed amount, will be made through Wayra, Telefonica’s open innovation platform that serves to incubate technology-related projects. The Gamium Metaverse will be accessible through 3D VR-based channels and, according to local reports, will also have an app allowing users to create their own metaverse businesses and events until the online economy on the platform is complete.

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On the investment, Marta Antunes, head of Wayra Barcelona, ​​said:

We are excited to invest in Gamium, a highly talented team in the world of crypto and blockchain, committed to innovation and committed to laying the foundation for a new, more decentralized internet that empowers creators.

Push the Metaverse

Telefonica has been one of the most active companies when it comes to its interest in the Metaverse and related technologies. Telefonica CEO José Maria Alvarez-Pallete has made clear how important the metaverse is to the company and its future. In an interview published in May, he declared:

We are living in an era of the greatest change in human history and the greatest accumulation of technology that no other generation has had so far. The Metaverse will cause even more profound changes than the Internet.

Telefonica’s focus on the metaverse prompted other actions. In addition to the announced investment, Telefonica has partnered with Meta, a social media company, to build the metaverse’s innovation hub. This center will allow Spanish and local metaverse-based startups to have a 5G communications lab to test the effectiveness of their platform using modern communications networks.

What do you think of Telefonica and its recent investment in Gamium? Tell us in the comments section below.

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Credit : news.bitcoin.com

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