JPMorgan Opens a Lounge in the Metaverse After Stating the $1 Trillion Market ‘Will Likely Infiltrate Every Sector’

Metaverse

Global Investment bank JPMorgan says, “The metaverse will likely infiltrate every sector in some way in the coming years, with the market opportunity estimated at over $1 trillion in yearly revenues.” The firm has set up a lounge in Decentraland.

JPMorgan on the Metaverse

Global investment bank JPMorgan recently released a report titled “Opportunities in the metaverse”. The report is written by Christine Moy and Adit Gadgil. Moy is the Global Head of Link, Crypto & the Metaverse at Onyx by JP Morgan. Gadgil is Head of E-Commerce Solutions at JP Morgan Payments.

The JPMorgan report details:

The metaverse will likely infiltrate every sector in some way in the coming years, with the market opportunity estimated at over $1 trillion in yearly revenues.

The report cites research from Grayscale Investments which states, “The Metaverse is estimated to be a trillion dollar revenue opportunity in advertising, social commerce, digital events, hardware, and developer/creator monetization.

“As a result, we see companies of all shapes and sizes entering the metaverse in different ways, including household names like Walmart, Nike, Gap, Verizon, Hulu, PWC, Adidas, Atari, and others,” the authors wrote.

JPMorgan then described its approach to the metaverse. “The success of building and scaling in the metaverse depends on the availability of a robust and flexible financial ecosystem that will allow users to seamlessly connect between the physical and virtual worlds,” explained the authors, adding:

Our approach to payments and financial infrastructure will allow that interoperability to grow.

The investment bank has set up an “Onyx by JP Morgan” lounge at Decentraland. The ground floor is an open space with a walking tiger and a portrait of JPMorgan CEO Jamie Dimon. The living room is upstairs where there is a large table with documents on it and large screens. You can explore the living room here.

The JPMorgan report cautions that “The components of the metaverse continue to evolve very quickly,” making it “difficult to base a business strategy on such a dynamic space.”

However, the authors pointed out: “The costs and risks of early and consistent engagement to build internal intellectual property, develop hypotheses about future business models, and identify ecosystem partners and collaborators are relatively low”. They developed:

The asymmetrical risk of being left behind is worth the incremental investment needed to get started and to explore this new digital landscape for yourself.

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