Metaverse project Gamium’s native token GMM surged 340% to $0.0025 on Tuesday after the project announced deals with social media giant Meta Platforms (META) and telecom company Telefonica (TEF).
Metaverse Token Gamium Soars 340% After Meta and Telefonica Partnership Announcement
Gamium will partner with Meta and Telefonica on the Metaverse Activation Program, according to Monday’s announcement. This is an initiative launched to support and scale startups in the Web3 industry. Startups will have access to proprietary technology provided by Meta AI, as well as commercial support from both Meta and Telefonica.
This isn’t the first time Meta or Telefonica have made inroads into Web3. Meta was once the parent company of the Diem project, which planned to develop its own cryptocurrency. Meanwhile, Telefonica invested in a Spanish exchange last year, revealing that cryptocurrencies can be purchased.
Most of the GMN trading pair trading volume occurred on KuCoin, Gate, and Uniswap. With a market capitalization of $29 million, it hit an all-time high of $0.0106 in April 2022, according to CoinMarketCap.
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