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

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 Metaverse

Global Investment bank JPMorgan recently published a report titled “Opportunities in the metaverse.” The report is authored by Christine Moy and Adit Gadgil. Moy is the global head of Liink, Crypto & the Metaverse at Onyx by J.P. Morgan. Gadgil leads J.P. Morgan Payments’ ecommerce solutions.

Details are available in the JPMorgan Report:

With a market potential of over $1 trillion per year, it is expected that the metaverse will infiltrate each sector.

The report cites research by Grayscale Investments which states: “The metaverse is estimated to be a trillion-dollar revenue opportunity across 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 explained its strategy for the metaverse. “The success of building and scaling in the metaverse is dependent on having a robust and flexible financial ecosystem that will allow users to seamlessly connect between the physical and virtual worlds,” the authors explained, adding:

We will make it possible for interoperability to increase by changing our approach to payment and financial infrastructure.

The investment bank has set up an “Onyx by J.P. Morgan” lounge in Decentraland. On the ground floor, you will find a large open area with Jamie Dimon, JPMorgan CEO Jamie Dimon’s portrait and a tiger roaming around. Upstairs, you will find the lounge. It has a large table that holds documents and large monitor screens. The lounge is open for you to explore.

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 emphasized: “The costs and risks of engaging early and consistently in order to build internal intellectual property, develop hypotheses about future business models, and identify ecosystem partners and collaborators are relatively low.” They elaborated:

This is asymmetrical risk that you will be left behind. It’s worth the additional investment to get going and explore this digital world for yourself.

Is JPMorgan right about the existence of the metaverse? Comment below to let us know your thoughts about the metaverse.

Kevin Helms

Kevin, a student of Austrian Economics and a Bitcoin evangelist since 2011, was one of the first to discover Bitcoin. His main interests are in Bitcoin security, open source systems, network effects, cryptography, and intersections between economics, cryptography, and Cryptography.