Only 4% of companies in Spain have moved to offer services in Metaverse – Metaverse Bitcoin News

Only 4% of companies in Spain have managed to use the metaverse for their operations, according to a survey carried out by ISDI, a national business school. 40% of the business leaders surveyed have admitted that it is difficult for them to bring parts of the business to the metaverse in a significant way.

Metaverse is growing slowly in Spain

While surveys and estimates from banks and companies have predicted that the metaverse will become big business this decade, some companies are experiencing difficulties in bringing their vision to the virtual world. A report presented by ISDI, a Spain-based business school, has shown that moving business models to the metaverse has proven difficult for national companies.

The survey, which focused on business leaders, found that less than 4% of Spanish companies have jumped into the metaverse, even with the boom that surrounded the ecosystem last year. Furthermore, 40% of the business leaders surveyed do not know how to utilize it for their specific business models.

Almost one in four companies also admit they have trouble understanding the concept, with 14% directly stating they both don’t understand it and have no idea how to apply it to their business.

A situation in development

But even with all the issues surrounding it, nearly one in four companies confirm being in investigative phases that include a metaverse-based initiative. 28% of companies surveyed recognize the importance of recruiting specialist talent for these initiatives.

For ISDI’s managing director Rodrigo Miranda, this is a natural part of the development Spanish companies must experience in order to be able to present their products and services in the metaverse. He stated:

The success and intervention of Spain, its companies and professionals in this new universe will depend on the speed with which they can accept, adapt and react to the radical changes to come.

At least at the government level, Spain has shown its commitment to the growth of the sector, supporting companies that want to make the leap into the metaverse. In December, Spain’s Ministry of Culture and Sports announced it would invest 8 million euros ($8.5 million) in grants to companies developing metaverse-based immersive experiences in video games.

What do you think about the development of the metaverse in business life in Spain? Tell us in the comments section below.

Sergio Goschenko

Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late to the game, entering the cryptosphere when the price spike occurred during December 2017. He has a computer engineering background, lives in Venezuela and is influenced by the cryptocurrency boom on a social level, offering a different point of view on crypto success and how it helps the unbanked and underserved.

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