New report states only 4% of companies in Spain have moved to offer services in the metaverse

February 21, 2023

By Anjali Kochhar

A new report has stated that only 4 per cent 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.

While 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.

The survey found that less than 4% of the Spanish companies have jumped into the metaverse, even with the buzz that surrounded the ecosystem last year.

Further, the survey said that almost one in four companies recognize that they have trouble understanding the concept, with 14% directly stating they both don’t understand it and have no idea of how to apply it to their operations.

However, even with all the problems regarding it, almost one in every four companies affirm to be in investigative phases that include a metaverse-based initiative. 28% of the companies surveyed recognize the importance of recruiting special talent for these initiatives.

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,” he said.

About the author

Anjali Kochhar covers cryptocurrency stories in India as well as globally. Having been in the field of media and journalism for over three years now, she has developed a sharp news sense and works hard to present information that goes beyond the obvious. She is an avid reader and loves writing on a wide range of subjects.

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