Gamium, a blockchain startup specializing in the development of Web3 technologies for the metaverse, has recently announced a partnership with Meta*.
The partnership, which is part of the Metaverse Activation Program initiative, is expected to provide Gamium with technical and expert support from Meta*, as well as access to metatechnologies developed by Reality Labs’ virtual reality division.
The initiative, which also involves Telefónica, aims to support the scaling of startups in the Metaverse and Web3 industries.
The benefits of the partnership for Gamium have not been specified, but the news has already had a significant impact on the price of the GMM token, which is used by Gamium to manage projects.
According to TradingView, GMM/USDT token quotes have risen by over 436% in just a week, reaching $0.004. Over the month, the token has risen in price by 712%.
However, despite the significant increase in value, the market capitalization of GMM is currently only $31.1 million.
Founded in 2021, Gamium aims to develop cutting-edge Web3 technologies with a focus on the metaverse. The startup has already raised $3 million from DAO Maker and Wayra, according to Crunchbase.
Meanwhile, Meta* is still in the early stages of development and does not expect a return on investment in virtual reality projects before 2030.
The company’s Head of Product, Chris Cox, believes that society will adapt to virtual realities by the beginning of the next decade, just as it has already adapted to videoconferencing.
The main challenge that Meta* is currently addressing is achieving adequate graphics quality with a fast Internet connection.