Telefónica, recognized as Spain's top telecommunications entity, is making significant advancements in NFTs, the metaverse, and cryptocurrencies.

Telefónica, based in Madrid, is making bold moves in the Web3 space, launching an NFT marketplace and investing heavily in the digital currency sector. NFT The multi-billion dollar telecommunications provider has embraced crypto payments, announcing this exciting development during their Metaverse Day event held on September 29. metaverse Telefónica now accepts various cryptocurrencies including Bitcoin, Ethereum, Litecoin, Ripple, and USD Coin on its tech marketplace, Tu.com, making transactions accessible through Bit2Me. Additionally, the company has invested in Bit2Me, but full details regarding their involvement are pending.

The telecom leader has gone a step further by introducing an NFT marketplace, which is hosted on the Polygon network. This marketplace is compatible with MetaMask and Wallet Connect, and currently, MATIC serves as the exclusive currency for purchasing NFTs. Noteworthy creators featured on this platform include renowned author Arturo Pérez Reverte, rapper El Chojin, and various organizations like United for Ukraine and Fundación Isabel Gemio. company integrated crypto payments Telefónica is collaborating with Qualcomm Technologies, Inc. to solidify their leadership in the future of extended reality (XR) and the metaverse. Together, they intend to enhance the XR ecosystem, utilize the Snapdragon Spaces XR Developer Platform, and establish next-gen mobile network frameworks. There are also plans for joint XR and metaverse products and related services.

In an effort to prepare for future technological advancements, Telefónica is investing in infrastructure, enhancing its services, and developing its workforce. Daniel Hernández, the VP of Devices & Consumer IoT at Telefónica, stated that \"XR will revolutionize interaction between the digital sphere and the physical world, allowing individuals to connect, conduct business, build relationships, and find entertainment in unprecedented ways.\" Telefónica Marketplace This initiative aims to foster entrepreneurship in cutting-edge technologies, including blockchain and AI. The 'Open Innovation' call was organized through Telefónica Open Future, the company's tech incubator subsidiary.

This week, Telefónica  announced a partnership La Liga has teamed up with TVM to create a unique soccer experience within the metaverse.

The financial messaging giant SWIFT has announced a new blockchain project.

Back in 2019, the telecom firm  announced NFTs are set to make their debut on Instagram within a few months, as confirmed by Zuckerberg.

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