The token has a market cap of $29 million and has surged by 340% over the past 24-hours.
Metaverse project Gamium’s native token GMM has surged by 340% to $0.0025 on Tuesday after the project announced deals with social media giant Meta (META) and telecommunications firm Telefonica (TEF).
Gamium will work with Meta and Telefonica on the Metaverse Activation Program, an initiative launched to help and scale start-ups within the web3 industry, according to an announcement on Monday.
Startups will have access to proprietary technologies provided by Meta AI, they will also be given commercial support by both Meta and Telefonica.
This is not the first foray into web3 for either Meta or Telefonica, Meta was the parent company of Diem – a firm that has planned to develop its own cryptocurrency. Telefonica, meanwhile, invested in a Spanish exchange last year and revealed that it enabled crypto purchases.
The majority of trade volume across GMN trading pairs has taken place on Kucoin, Gate and Uniswap. It has a market capitalization of $29 million and reached an all-time high of $0.0106 in April, 2022, according to CoinMarketCap.