Telefonica, one of the biggest communication companies in Spain, has announced it will fortify its metaverse investment by supporting Gamium, a Spanish virtual world.
The company will allocate a non-disclosed amount of funds to this metaverse initiative through Wayra, its innovation-based incubator arm. The company is also collaborating with Meta in the creation of a metaverse innovation hub for startups.Metaverse initiatives have become popular for companies and VCs to invest in during this market downturn.
This Barcelona-based company has raised a million euros with the sales of land on its platform in just ten days, and it is advertised as the first decentralized metaverse.The investment, whose numbers were not disclosed, will be made through Wayra, an open innovation platform of Telefonica, that serves to incubate tech-related projects.
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