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Telefonica through Gamium will now enter into the Metaverse

Metaverse real estate sales are expected to increase by $5 billion by 2026

The largest Spain-based telecommunication company, Telefonica, is now planning to enter the Metaverse through Gamium. Telefonica will now use its innovation-based incubator sector, Wayra, to allocate a non-disclosed fund for its Metaverse initiative.

Not only is Telefonica limiting itself to introducing Gamium, but it will also collaborate with Meta to create an innovation hub for start-ups.

More insight into Telefonica’s relationship with Gamium

While the market is still bearish, investors from several companies want to seize the opportunity to participate in the Metaverse initiatives. Gamium, based in Spain, deals with virtual assets and will now be backed by Telefonica to fortify its presence in the Metaverse.

Telefonica has sold several pieces of land through its platform to raise millions of euros in just ten days. It is also advertising itself as the first decentralized platform to enter the Metaverse. Wayra incubates Telefonica’s technology-based projects and now will act as a source for the company to invest in Gamium.

According to our sources, Gamium will be available to users through 3D VR channels. It will also have a mobile application for its users, enabling them to create events and businesses across the Metaverse. The idea of Telefonica is to establish an economical platform for its customers to conduct business in the Metaverse.

The head of Wayra, Marta Antunez, stated that they are eagerly waiting to see how their investment in Gamium turns out. Antunez further said they would have the privilege of working with a talented blockchain and crypto team at Gamium.

     

More news on Web3, NFTs and Metaverse:

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