A little-known cryptocurrency token has grown by 650% thanks to Zuckerberg’s company

Blockchain project Gamium has announced cooperation with market giants Mark Zuckerberg’s Meta and Telefonica, the world’s eighth largest telecommunications provider. Together, the companies plan to develop their Web-3 initiatives.

We’re delighted to announce our collaboration with industry leaders @Meta & @Telefonica through their Metaverse Activation Program.https://t.co/bl1iuRVxDi

[1/3] ..$GMM #Metaverse #Web3 #AI #Blockchain pic.twitter.com/YbywshNPVc

— Gamium (@Gamiumcorp) February 27, 2023

According to KuCoin, immediately after the announcement of the collaboration, the GMM project token increased by 650% - from $ 0.0006 to $ 0.0039. As a result of the correction, the asset is trading at $ 0.0023. The coin’s market capitalization is $ 49.5 million.

GMM is an ERC-20 token that operates on the Ethereum blockchain. It was created as a cryptocurrency for the global gaming ecosystem Gamium. The main goal of Gamium is to create an innovative platform that will allow players to receive rewards for playing and will also ensure the creation of new gaming tournaments.

Telefónica is participating in the Metaverse Activation Program initiative through its Wayra technology innovation unit. In September 2022, the Spanish telecom giant allowed customers of its online store to pay for purchases with cryptocurrencies. The option was implemented in cooperation with the licensed digital asset exchange Bit2Me. Earlier, Telefonica announced a partnership with chipmaker Qualcomm to jointly develop projects related to the meta-universe. Under the terms of the cooperation, Telefonica’s telecommunications infrastructure will serve as a platform for deploying ready-made projects created using Qualcomm technologies.