Gamium token is driving excessive following reviews that Meta and Telefonica would supply sources for the Web3 startup.
The token of metaverse venture Gamium (GMM) just lately spiked 340% to $0.0025 following a partnership announcement with Meta Platforms (NASDAQ: META) and telecoms agency Telefonica (NYSE: TEF). In response to reviews, Gamium will collaborate with Meta and Telefonica on the Metaverse Activation Program. This program is an initiative established to help and scale startups within the Web3 area.
Moreover, startups would even have entry to Meta synthetic intelligence (AI) proprietary applied sciences. The social media big additionally appears to be like to offer industrial assist to those startups in tandem with Madrid-based Telefonica. The announcement learn:
“Startups taking part additionally had the chance to discover enterprise improvement alternatives with Meta and Telefónica, in addition to entry to Telefónica’s open innovation ecosystem and potential funding.”
Metaverse Activation Program is a joint initiative between Meta and Telefonica-instituted technical innovation hub community, Wayra. Along with software-enabled sources, the Activation Program additionally grants entry to stylish {hardware}. Meta’s metaverse unit, Actuality Labs, developed this superior and highly effective {hardware}.
Gamium Token Might Expertise Sustained Advantages from Meta & Telefonica Partnership
The Gamium GMM token, which presently has a market cap of $29 million, is driving excessive following the Meta and Telefonica improvement. GMM initially surged by over 450% to $0.004539 following the deal’s announcement. Moreover, most commerce quantity that includes GMM pairs occurred on Kucoin, Gate, and Uniswap.
The GMM token trades on secondary crypto markets and can be used for metaverse governance by the Gamium DAO. As well as, GMM facilitates different endeavors, together with Avatar governance, launching and managing community-owned cities, and accessing unique occasions.
Studies state that Gamium’s partnership with Meta and Telefonica might possible spur GMM buying and selling exercise – along with the token worth enhance.
Regardless of the lesser-known profile of its native token, Gamium’s blockchain is an rising metaverse venture. The community seeks to change and improve how people work together by introducing digital id.
Meta & Telefonica Web3 Antecedents
This improvement is neither Meta nor Telefonica’s first foray into Web3. Meta beforehand instituted the now-defunct Diem initiative to develop and promote its personal digital currencies. Nonetheless, since rebranding in 2021, Meta has invested closely in metaverse analysis and improvement. For example, the social media big constructed a metaverse platform referred to as Horizon Worlds, the place gamers can work together just about with one another. Meta additionally beforehand acquired a number of metaverse companies, together with digital actuality video games.
Meta’s metaverse sojourn additionally noticed the massive tech firm encounter unsavory macroeconomic circumstances, resembling final yr’s crypto winter. Amid the tech downturn that characterised 2022, Meta has needed to embark on a number of cost-cutting measures, inducing downsizing. The corporate laid off 13% of its workforce final November and will further reduce its headcount in March. In response to Meta CEO Mark Zuckerberg:
“In combination, we count on to finish 2023 as both roughly the identical measurement, or perhaps a barely smaller group than we’re as we speak.”
In the meantime, Telefonica invested within the Spanish alternate, Bit2Me, final September and introduced it will assist crypto purchases.
Tolu is a cryptocurrency and blockchain fanatic primarily based in Lagos. He likes to demystify crypto tales to the naked fundamentals in order that anybody anyplace can perceive with out an excessive amount of background data.
When he is not neck-deep in crypto tales, Tolu enjoys music, likes to sing and is an avid film lover.
