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

According to a survey conducted by ISDI, a national business school, only 4% of companies in Spain have managed to apply the Metaverse to their operations. 40% of business leaders surveyed admitted they find it difficult to bring parts of their business into the metaverse in a significant way.

Metaverse is slowly growing in Spain

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

The survey, which focused on business executives, found less than 4% of Spanish companies have jumped into the metaverse, despite the excitement surrounding the ecosystem over the past year. In addition, 40% of business leaders surveyed do not know how to use it for their specific business models.

Additionally, nearly one in four companies say they have trouble understanding the concept, with 14% stating directly that they don’t understand it and have no idea how to apply it to their operations.

An evolving situation

However, despite all the issues involved, almost one in four companies claim to be in investigation phases that involve a Metaverse-based initiative. 28% of the companies surveyed recognize the importance of recruiting specific talent for these initiatives.

For Rodrigo Miranda, CEO of ISDI, this is a natural part of the evolution that Spanish companies have to go through to be able to present their products and services in the Metaverse. He explained:

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

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

What do you think about the evolution of the metaverse in the corporate sector in Spain? Tell us in the comment section below.

Sergio Goschenko

Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late in the game and entered the cryptosphere when the price surge took place in December 2017. He has a computer engineer background, lives in Venezuela and is socially affected by the cryptocurrency boom. He offers a different take on crypto’s success and how it’s helping those who are unbanked and underserved.

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