In a significant development, a metaverse coin has surged nearly 600 percent following a collaboration with Meta, the entity behind Facebook. This remarkable rise in cryptocurrency value was highlighted in an announcement made on Monday, revealing that Gamium is set to collaborate with Meta and Telefonica on the Metaverse Activation Program.
This initiative is designed to support and scale start-ups within the web3 sector, showcasing the potential impact of strategic partnerships on digital currencies. Here’s an overview of the collaboration details and the latest pricing information…
Metaverse coin rises with giant collaboration
Gamium (GMM) achieved a record peak of $0.00437, marking an increase of over 600 percent in the past 24 hours, as per recent data. At one point, the coin’s value dipped to $0.0005496. However, its price has currently stabilized at $0.002852, still representing a significant 405 percent rise within the last day. This surge in value was triggered by the announcement of a partnership with Meta and further fueled by the community’s misinterpretation of a tweet from Binance.
On February 27, Gamium unveiled its collaboration with Meta and Telefonica, part of the Metaverse Activation Program initiated by these tech behemoths. This partnership is set to provide Gamium with access to Meta’s cutting-edge technologies and expert guidance. According to the program’s website, chosen startups will benefit from potential business development opportunities with Meta and Telefonica, including integration into Telefonica’s open innovation ecosystem and possible investment avenues. Gamium’s Co-CEO, Alberto Rosas, expressed enthusiasm about the collaboration, highlighting the development of technology aimed at enhancing accessibility to Web3 and the Metaverse through the partnership with Meta’s AI team.
Binance tweeted GMM
Startups participating in the collaboration will gain access to Meta AI’s proprietary technologies, alongside commercial support from both Meta and Telefonica.
This partnership is not Meta’s or Telefonica’s first foray into the web3 arena; Meta, previously known as the parent company of Diem, aimed to develop its cryptocurrency. On the other hand, Telefonica invested in a Spanish exchange last year, enabling cryptocurrency transactions on its platform.
The announcement of Gamium’s partnership occurred simultaneously with a tweet from Binance on February 27, which simply read “gmm” for “Good Morning Monday.”
However, some market participants misinterpreted this as a nod to Gamium’s GMM token, suggesting Binance’s interest in it, which contributed to the speculative surge in the token’s price.
As reported by Metaverseplanet.net, the Gamium protocol has articulated its vision to humanize the internet by offering digital identities to users across Web2 and Web3 domains in various chains and metaverses.
The majority of trading activity for GMM trading pairs has been observed on platforms like Kucoin, Gate, and Uniswap. According to CoinMarketCap, the coin boasts a market capitalization of $29 million and reached an all-time high of $0.0106 in April 2022
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