We all have heard about Qualcomm. It’s very likely that the smartphone you are using right now has a Qualcomm chip. On the other hand. Telefonica is a telecom giant in Spain, and they have partnered with Qualcomm to enter the Metaverse under a joint initiative. The telecom company is going to use Qualcomm’s technology to offer a metaverse experience to its users.
Qualcomm to enter the Metaverse with Telefonica
Qualcomm has recently built a new technology called Snapdragon spaces which will be used by Telefonica under this new partnership. This new tech by Qualcomm is a full stack of programs that can offer high-quality AR experiences to users. The best part here is that Snapdragon spaces will not be dependent on the device. So, companies can license it to use on their headsets. Telefonica will be including the same with their tech, which they are working on.
Apart from offering a metaverse experience to its users, Telefonica might also work with Qualcomm to pursue other commercial initiatives. The VP of devices & consumer IoT at Telefonica is very optimistic about their new relationship with Qualcomm. He said, “XR (extended reality) will bring a new dimension to the digital and real world, allowing people to communicate, do business, socialize, and be entertained in new ways.”
They are currently working to build their infrastructure and equipment to prepare for the future they are foreseeing. It shows that even though the hype about the metaverse tokens like SAND and MANA has dried up, companies are still very much working on it and see it as a potential future of communication.
Metaverse’s future potential
People and companies see a lot of potential in the Metaverse because it changes the way how people will interact and communicate with each other and the world. Today, virtual meetings and experiences seem far from reality, but the Metaverse promises a world where everything is connected. With the use of WEB3, NFTs, and blockchain technology, Metaverse could become the double lives of humans. We will have a much stronger virtual presence than before and become much more dependent on technology.
Currently, the market value of Metaverse is around $40-$50 billion, and it is expected to cross $600 billion by 2030, according to grandviewresearch.
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