Only 4% of the companies in Spain have managed to apply the metaverse to their operations, according to a survey conducted by ISDI, a national business school. 40% of the business managers surveyed have admitted that it is difficult for them to bring parts of their business to the metaverse in a significant way.
Metaverse Growing Slowly in SpainWhile surveys and estimations by banks and companies have predicted the metaverse will become a big business in this decade, some companies are experiencing problems in bringing their vision to the virtual world. A report presented by ISDI, a Spain-based business school, has shown that moving business models to the metaverse has proven difficult for national companies.
For ISDI’s CEO Rodrigo Miranda, this is a natural part of the evolution that Spanish companies must experience to be able to present their products and services in the metaverse. He stated: The success and the 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 the radical changes that are coming.
At least at a governmental level, Spain has manifested its commitment to the growth of the sector, supporting companies wanting to take the leap into the metaverse. In December, the Ministry of Culture and Sports of Spain announced it would invest 8 million euros ($8.5 million) in grants for companies developing metaverse-based immersive experiences in the field of video games.