Globe exec says group keen to explore metaverse

Telco giant Globe Telecom, which has started venturing into other digital businesses, is looking to explore the metaverse.

File photo: Globe Telecom logo

Globe to enter metaverse?

As the pandemic has forced businesses to embrace work-from-home setup, metaverse has emerged as one of the platforms allowing people to work and live in virtual worlds.

Globe, in a statement, said future developments under Web 3.0 are still being discussed within the group's corporate venture builder 917Ventures. Its president and CEO even said that the public can expect announcements on Globe's new incubated companies.

The metaverse is something that we have an interest in. We’re looking at where the synergies would lie. We’re exploring various places. Web 3.0 is a very new ecosystem. I think it behooves one to completely examine the opportunities, the risks involved, and if this will become a lasting industry. So we're constantly studying, Cu said at the company’s recent financial media briefing.

The group started with cryptocurrency through the finance app GCash in March of this year. Aside from allowing investors to buy and pay directly through GCash, the mobile wallet will soon enable them to invest, trade, and transact tokens and various coins.

Last year, GCash recorded a strong performance, with gross transactions hitting PHP 3.8 trillion against the PHP 1.2 trillion booked in 2020.

GCash ended 2021 with 55 million registered users, 4.5 million merchants and social sellers, 290 GLife merchant partners, and around 174,000 cash-in and cashout agents.