IQSTEL, Inc. (OTCQX: IQST) Plans To Launch ‘Joint Venture Metaverse Brand And Product’ Next Quarter As IQST Establishes Its Metaverse Business Division In Conjunction With GOTMY And Names Jose Enrique Puente CEO; Develops New Profit Streams For IQST In 2023 And Offers Its Telecommunications Clients A White Label ‘Trailblazing’ Metaverse Solution
IQSTEL, Inc. (OTCQX: IQST) plans to launch its ‘joint venture Metaverse brand and product’ next quarter as IQSTEL establishes its Metaverse Business Division In conjunction with GOTMY and names Jose Enrique Puente, CEO of GOTMY, as CEO of the new Division. IQSTEL develops new profit streams for IQST In 2023 and offers its telecommunications clients a White Label ‘trailblazing’ Metaverse Solution platform. Leandro Iglesias, CEO of IQSTEL, says “Under Jose’s leadership I expect our Metaverse platform to first differentiate IQSTEL within the telecommunications carrier market and then to subsequently grow and expand into becoming the tie that unifies IQSTEL’s telecommunications, financial and mobility solutions into a seamless single offering offering satisfying basic human needs in a modern world: ubiquitous communications, financial freedom and clean, affordable mobility.”
Stock Market Press is reporting on the fast growing telecommunications market by keeping readers up-to-date on such company stocks as iQSTEL Inc. (OTC: IQST),Verizon (NYSE: VZ), AT&T Inc. (NYSE: T), T-Mobile US (NASDAQ: TMUS), Sprint (NYSE: S), Ericsson (NASDAQ: ERIC) in 5G networks. Also covered are trends by semiconductor manufacturers Qualcomm (NASDAQ: QCOM), Qorvo (NASDAQ: QRVO) and Skyworks Solutions (NASDAQ: SWKS), among others.
IQSTEL’s management believes the Metaverse will become as ubiquitous as the Internet serving as a standardized gateway for all content, products, services and customer support services. The first business objective of the newly formed IQSTEL Metaverse Division, under Puente’s leadership, will be to complete a graphic design upgrade and launch the IQSTEL Metaverse solution next quarter, the Company says.
The new joint venture between IQSTEL and GOTMY is designed to accelerate the launch of a turn-key, ‘White Label’ solution for IQSTEL’s telecommunication customers. The Metaverse market size by revenue is estimated to be currently worth $61.8 billion — and expected to grow to $426.9 billion by 2027, the Company says.
IQSTEL says its telecommunications division is already profitable and management expects its EV and Fintech divisions to generate new profit streams this year.
GOTMY has expanded its personalized live video marketplace and platform offered through an app available for iPhone, Android and PC enabling content creators to host and monetize their online events. Also, it now offers a ‘White Label’ Metaverse solution empowering brands, large and small, to host 3D events. In those, participants can interact with the brand and even buy from the brand in an online store. All can be done without downloading any app or using a wallet.
The intention of the IQSTEL-GOTMY joint venture is to provide telecom carriers with a distinctive and immersive customer experience. IQSTEL’s solution for telecom carriers is intended to accommodate all mobile phone users — not just those with high-end VR headsets, the Company said.
Puente adds, “We are eager to initiate this joint venture with IQSTEL, introducing our technology to the telecommunications market.”
Iglesias of IQSTEL says that this new partnership is set to revolutionize the telecommunications industry with a leading, innovative approach to connecting with their customers. He calls it a ‘trailblazing’ solution.
Iglesias adds that IQSTEL management expects the JV and Fintech Divisions o generate new profit steams in 2023. Iglesias says he anticipates the JV will be “adding to our telecommunications income and potentially compelling an increase to our current $105 million annual revenue forecast.”
IQST reports a 25% jump in Telecom Division’s $16.4 million (unaudited) revenue YTD through February 28, compared to $13.1 million for the comparable period in 2022. Leandro Iglesias, CEO of IQSTEL, says the Company is already realizing 25% growth YTD through February 28 and its 2023 financial objectives of $105 million 2023 annual forecast organically and meeting its goal of positive consolidated operating income for the entire PubCo are ‘within sight’.
The newly-announced JV would generate revenues in addition to those already forecast from IQST’s organic sources.
Leandro Iglesias, CEO of IQST, says, “IQSTEL continues into 2023 to realize steady and exceptional growth. After reaching $93 million in revenue in FY 2022, we are already realizing 25% growth YTD through February 28 this year compared to the same period in 2022.”
Management of the Company is also confident that IQSTEL is on track to report Positive Consolidated Operating Income in 2023 for the entire PubCo. Operational streamlining and the anticipated benefit from IQSTEL’s newer lines of business will benefit the Company from its Electric Vehicles, Fintech and Internet of Things (IoT) Divisions.
He adds that IQST’s performance is ‘on track’ to meet its IQST says that considering the Company’s revenue stream is historically higher in the second half of the year. Management is confident the YTD performance is on track to reach the company’s $105 million annual revenue forecast organically for 2023. This is before the benefit of sales from any new lines of business and before the benefit of any anticipated contribution from acquisitions.
Source: Stock Market Press
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