Altice Portugal Debuts Metaverse, Launches Experience on Spatial
Portugal’s telecommunication giant, Altice, joins the metaverse race a few months after Africa’s largest Telco, MTN, purchased assets in Ubuntuland.
One of Portugal’s biggest Telco Altice creates an immersive metaverse experience on Spatial. The telecommunication company collaborated with local innovators to create a hub where users can easily design a 3D avatar creation. The hub will be created on MEO, a subsidiary of Altice Portugal. According to Zoominfo data, the Portuguese company generates an average of $3 billion, employing over 8,8000 individuals. Altice Portugal is the first telecommunication company to launch such an experience in the country.
Users can access the Altice metaverse hub using PCs, tablets, and smartphones. However, only users with VR devices can enjoy immersive experiences. Altice metaverse is a 3D virtual space where people can interact through gaming, virtual concerts, and other events. The metaverse campaign will begin in Central Square, Lisbon. Central Square houses Meo pop-up store and the Casa Meo virtual showroom.
Is Altice Portugal the first telecommunication company to debut metaverse?
Altice is not the first telecommunication company to debut the metaverse worldwide. In March, Africa’s largest telecommunications company, MTN, announced its presence in the metaverse. The multinational company purchased 144 digital plots of land in Ubuntuland, Africarare’s metaverse platform. Meanwhile, some top investment firms have debuted the metaverse.
These financial institutions have created experiences that seek to attract GenZ investors. McKinsey, a management consulting company, projected that the metaverse will be valued at $5 trillion by 2030, considering the ever-increasing interest from major companies. The metaverse industry has attracted a lot of venture capital funds, increasing the adoption of the ecosystem.
Unfortunately, the consecutive quarterly loss from Meta Platforms Inc, a popular metaverse pioneer has discouraged several venture capital firms from investing in the metaverse market.