Gamium wants to build the new metaverse social network based on interoperable digital identity associated with avatars. In July 2022, it attracted investment from Wayra, Telefónica’s open innovation initiative. Last year, Wayra partnered with Meta to work together on their Metaverse Activation Program, allowing startups to access Meta’s technology. Yesterday Gamium announced its successful participation in the program.

Gamium CEO Alberto Rosas said he had been working closely with Meta’s AI team and that together their technology makes web3 and the metaverse more accessible. “We believe that we are going to have many synergies in the future with them,” said Rosas. Since it is a web3 startup, one of the main applications is to enable one-click payments.

Details are scant, but its identity system combines NFT and own sovereign identity (SSI). Decentralized identity allows users to maintain control over their own personal data and is not on-chain. By contrast, the non-fungible token (NFT) is on-chain and you can link chain activity across multiple spaces.

Will you take advantage of decentralized identity privacy?

On the one hand, this two-part identity seems secure, but depending on the details. there is the possibility of filtering a large amount of data.

Some decentralized identity systems try to ensure that each personal data cannot be linked to another. For example, your health data cannot be linked to your credit score. You effectively have a different identity for each one. There is a real risk in having an NFT like your online presence with a link to the decentralized identity (DID) that the separation enabled by SSI is undermined and your health profile data is linked with other data such as your health score. credit or payments

Since the user is in control, we are seeing a proliferation of this type of design promoted as a benefit. It could be advantageous for companies that can create a rich image of customers. But it’s probably a step in the wrong direction regarding privacy.

This is not a criticism of Gamium because the details of how its system works have not been shared.

Blockchain and metaverse activities of Telefónica

Wayra and Telefónica are not new to this space. In the metaverse realm, there are at least eight startups active in its accelerator, including web3 initiatives MetaSoccer, CrossMint, and the Deutsche Telekom-backed IoT network Helium.

Telefónica launched its Activation Program for IoT, blockchain and AI at the beginning of the pandemic. He has been involved in the Spanish blockchain consortium Alastria. He backed the Spanish carbon trading startup ClimateTrade, as well as numerous initiatives focused on telecommunications.