According to the research company MarketsandMarketsthe metaverse market is expected to be valued at $427 billion by 2027.

This would mean a 47% Compound Annual Growth Rate (CAGR) over the next five years from its current market capitalization of $62 billion.

That said, it is no wonder that more and more companies are rushing to develop and launch projects in the virtual domain and benefit from it.

Telefónica, for example, is emerging as one of the latest companies to make its own move to provide a “metaversal” experience to its customers.

Image: Los Angeles Time

The metaverse has new big players

In order to preserve and promote their position as “leaders” in Extended Reality (XR) and the Metaverse, Telefónica and Qualcomm are embarking on a…