Telefónica dives into the crypto sector

The telecommunications giant presents its plans for the metaverse and reveals its key alliances for its upcoming projects.

NFTs & Metaverso September 30
Marta Navarro

Among the first initiatives within the framework of web3 that Telefónica announced at its event yesterday, are the creation of a marketplace for NFTs, a payment system with cryptocurrencies, immersive experiences, and several multifunctional virtual spaces. 

For this, they will have the support of companies such as Microsoft, Meta, Unity, and Qualcomm, among other references in the technology and cryptographic industry. 

Chanpeng Zao echoes the situation 

The CEO of Binance echoed the good news regarding the initiatives carried out by the telecommunications giant in the crypto industry. 

This is just a small example of just how mass adoption of the industry is getting closer every day. 

on of the president of Telefónica 

The vision of the president of Telefónica 

José María Álvarez-Pallete, president of Telefónica, has focused on new technologies. 

 "We are going to spend 4 hours a day in the metaverse and this will generate trillions of dollars," says José María Álvarez-Pallete. 

Data like this is a clear indicator of the enormous potential of the industry. 

According to various studies and indicators, by 2030 blockchain technology could raise the world GDP to 1.7 trillion dollars, half of which is expected to be shared between China and the United States. 

However, the predictions for Europe and Latin America are also remarkably optimistic. According to IDC data, the industry is expected to generate around 4 billion euros in Europe by 2024 and more than 200 million in Latin America. 

Regarding technological development, the president of the company assures us that Spain has a much more extensive fiber optic infrastructure than other countries. 

Based on this advantage, Spain could see great development in the field of web3, as long as the resources are managed properly and initiatives aimed at the development of this type of technology are adopted. 

Without a doubt, Telefónica's commitment to the sector is a massive step towards mass adoption. 


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