Metaverse News

Telefonica Announces It Will Invest in Metaverse

Telephone, one of the largest communication companies in Spain, announced that it has decided to invest in Gamium by strengthening its belief in Metaverse. The company stated that it will allocate an undisclosed amount of funds to this Metaverse initiative through Wayra. It also announced that it will be collaborating with Meta in the creation of a Metaverse innovation hub for startups. As Metaverseplanet , we have compiled the details of these initiatives for you.

Telefonica Expands Metaverse Initiatives!

Telefonica Announces It Will Invest in Metaverse
Telefonica Announces It Will Invest in Metaverse

Metaverse startups continue to become popular for companies to invest in, even with the current market downturn. Telephone, one of Spain’s major companies, has partnered with Gamium, a Spanish virtual world startup. It announced that it will expand its Metaverse investment by supporting the company in this partnership . The Barcelona-based company raised one million euros in just ten days with land sales on its platform. It has also been announced as the first decentralized Metaverse.

The undisclosed investment will be made through Telefonica’s innovation platform, Wayra, which is open to incubating technology-related projects. Gamium Metaverse, 3DIt will be available through VR-based channels. According to local reports, it is also planned to have an application that allows users to create their own businesses and events on the Metaverse until the end of creating an online economy on the platform. Wayra Barcelona president Marta Antunez made a statement about the investment. In her statement, she stated that they are excited to invest in Gamium, a very talented team in the blockchain world. He also stated that they will strengthen their partnership with the ambition to lay the foundation for a new, more decentralized internet that is committed to innovation and empowers creators.

Telefonica has been one of the most active companies when it comes to its interest in Metaverse and related technology. Telefonica ‘s CEO, Jose Alvarez Pallete, made clear statements about the importance of Metaverse for the company and its future. In an interview published in May, he stated that it was the greatest time of change in human history. He also stated that they have great technology that no other generation has so far.

Telephone’s focus on the Metaverse has sparked further action. In addition to the announced investment, Telefonica will create a Metaverse innovation hub. In this context , he also partnered with the social media company Meta . This center will enable Spanish and local Metaverse-based startups to have a 5G communications lab to test the efficiency of their platforms using today’s communications networks.

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