Spanish bank BBVA has ventured into the metaverse by establishing its first remote meeting room in partnership with Legendaryum Metaverse. The collaboration aims to examine the potential impact of immersive digital environments on remote interactions, both internally and with customers. The metaverse is seen as a space for future relationships, prompting BBVA to experiment with controlled tests before implementing new models or products.

The pilot project involves an immersive meeting room within Legendaryum’s hyper-realistic metaverse, designed for social gatherings, commerce, training, and leisure. By recreating a virtual version of BBVA’s Madrid headquarters, known as La Vela, in the metaverse, the bank’s Digital Assets team gains access to the room for testing and analysis.

Iván Moreno, from BBVA’s Strategy and Digital Assets area, emphasizes the importance of understanding the capabilities, risks, and opportunities of these technologies, as well as enhancing user security. The initiative offers insight into changing perceptions and interactions within digital environments, providing valuable input for designing customer-centric products and services.

Ariel Burd, CEO and co-founder of Metaverse Legendaryum, underscores the strategic alignment between BBVA and Legendaryum in embracing the metaverse as a utility tool, not just a marketing gimmick. The metaverse’s technological advancements, scalability, and hyperrealism make it an appealing choice for BBVA’s exploration into emerging technologies.

The metaverse environment also addresses accessibility concerns by allowing users to interact across various devices without the need for third-party software. BBVA’s engagement with Legendaryum exemplifies its commitment to investigating innovative technologies for new banking business models, while also adapting to evolving customer behaviors and preferences.