Telefonica, one of the largest communications companies in Spain, has decided to invest in Gamium, furthering its metaverse push. The company will allocate an undisclosed amount of funds to this metaverse initiative through Wayra, its innovation-based incubator. The company is also collaborating with Meta in creating a metaverse innovation hub for startups.
Telefonica will invest in the Spanish Metaverse Gamium
Metaverse initiatives have become popular for companies and venture capitalists to invest in during this market downturn. Telefonica, one of the largest communications companies in Spain, has announced that it will strengthen its investment in the metaverse by supporting Gamium, a Spanish virtual world initiative. This Barcelona-based company has raised a million euros with the sale of land on its platform in just ten days, and it is announced as the first decentralized metaverse.
The investment, figures for which were not disclosed, will be made through Wayra, an open innovation platform from Telefonica, which is used to incubate technology-related projects. The Gamium Metaverse will be available through 3D VR-based channels and, according to local reports, will also have an app, allowing users to create their own businesses and events in the Metaverse in the end to create an online economy on the platform.
Commenting on the investment, Marta Antúnez, Director of Wayra Barcelona, said:
We are delighted to invest in Gamium, a very talented team in the world of crypto and blockchain, committed to innovation and with the ambition to lay the foundations for a new, more decentralized Internet that empowers people. creators.
Telefonica has been one of the most active companies when it comes to its interest in the metaverse and related technology. Telefonica CEO José María Álvarez-Pallete was clear about the importance of the metaverse to the company and its future. In an interview published in May, he said:
We are living through the greatest period of change in human history and the greatest accumulation of technology that no other generation has seen before. The metaverse will cause an even deeper change than the Internet.
Telefonica’s emphasis on the metaverse prompted other actions. In addition to the announced investment, Telefonica has partnered with Meta, the social media company, in the creation of a Metaverse Innovation Center. This hub will allow Spanish and local startups based on the metaverse to have a 5G communication laboratory to test the effectiveness of their platform using today’s communication networks.
What do you think of Telefonica and its recent investment in Gamium? Tell us in the comments section below.
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