4% of Spanish Companies Make the Leap into the Metaverse

• Only 4% of companies in Spain have moved to offer services in the metaverse.
• 40% of business managers surveyed admit it is difficult to bring parts of their business to the metaverse.
• The Spanish government is investing 8 million euros ($8.5 million) in grants for developing metaverse-based experiences.

Survey on Companies Moving to Metaverse

A survey conducted by ISDI, a national business school, revealed that only 4% of Spanish companies have managed to apply the metaverse in their operations. 40% of the business managers surveyed admitted that it was difficult for them to bring parts of their business to the metaverse in a significant way.

Difficulty Understanding Metaverse

Almost one fourth of companies recognize that 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 operations. 28% of companies surveyed recognize the importance of recruiting special talent for these initiatives.

Government Support for Companies

The Ministry of Culture and Sports of Spain announced last December that it would invest 8 million euros ($8.5 million) in grants for companies developing metaverse-based immersive experiences in video games. This move by the Spanish government indicates its commitment towards growth and development in this sector.

ISDI CEO’s Comment on Evolution

Rodrigo Miranda, CEO at ISDI, stated: “The success and incursion of Spain, its companies, and professionals in this new universe will depend on the speed with which they can accept, adapt and respond to radical changes coming.“ He believes this is a natural part of evolution that Spanish companies must experience if they wish to present their products and services successfully in the metaverse.

Conclusion

Though surveys have predicted a promising future for businesses using virtual worlds, most Spanish businesses are still struggling with understanding how exactly they can harness such technology for their specific needs and models as only 4% managed to do so far despite governmental support through granting funds towards such endeavours.

4% of Spanish Companies Make the Leap into the Metaverse
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