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Telefónica, Meta set up Metaverse hub in Madrid

March 2, 2022

From David Del Valle in Madrid

Telefónica and Meta (formerly Facebook) have partnered to launch Open2metaver – a Metaverse hub in Madrid – to develop Metaverse networks, services and apps with a global reach.

The deal was announced during the Barcelona Mobile World Congress, with Telefónica inviting start-ups and developers “to benefit from (our) open innovation ecosystem as week as from Meta’s engineering support, tools and resources”.

The hub will also include a 5G laboratory that will serve as a test bed for Metaverse. The hub will also work with video compression, edge computing and will deal with the use of the radioelectric spectrum, new connectivity standards, symmetrical bandwidths, latency and how to enhance networks.

Dan Rabinovitsj, vice president of Meta Connectivity, commented that “over the next decade Metaverse will reach 1 billion people in the world with hundreds of thousands of millions dollars in ecommerce and generating millions of jobs for creators and developers”.

Chema Alonso, Telefónica Chief Digital Officer, added: “The hub will support companies with the best Metaverse technologies connecting them with Telefónica to generate joint opportunities”.

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