Its native token GMM surged 340% to $0.0025 on Feb. 28 after Metaverse project Gamium announced partnerships with US social media giant Meta and Spanish telecommunications company Telefonica. .
Gamium will participate in the Metaverse Activation Program launched by Meta and Telefónica to support startups within the Web3 industry, according to a February 27 announcement.
Participating startups will have access to proprietary technology provided by Meta AI and receive support from both Meta and Telefónica.
Neither Meta nor Telefónica are new to Web3, with Meta being the parent company of Diem, which was developing its own cryptocurrency. Meanwhile, Telefónica announced last year that it had invested in a Spanish exchange, making it possible to buy cryptocurrencies.
The majority of GMM trading is done on KuCoin, Gate and Uniswap. According to CoinMarketCap, it has a market capitalization of $29 million (approximately ¥4 billion), hitting a record high of $0.0106 in April 2022.
｜Translation: coindesk JAPAN
｜Editing: Toshihiko Inoue
｜Original: Metaverse Token Gamium Surges 340% After Meta and Telefonica Partnership Announcement