Global Investment bank JPMorgan says, “Development is likely to hit the entire sector in some way in the coming years, with market potential estimated at more than $ 1 trillion in annual revenue.” The company has set up a resort in Decentraland.
JPMorgan in Metaverse
World Investment Bank JPMorgan recently published a report entitled “Opportunities on the Road.” The report was written by Christine Moy and Adit Gadgil. Moy is the global head of Liink, Crypto & the Metaverse at Onyx by J.P. Morgan. Gadgil is head of e-commerce solutions at J.P. Morgan Payments.
Details of the JPMorgan report:
The metaverse is likely to hit the entire industry in some way in the coming years, with an estimated market share of over $ 1 trillion in annual revenue.
The report cites a study by Grayscale Investments that states: “Development is estimated to be a multi-billion dollar revenue in all advertising, public commerce, digital events, hardware, and monetary for developers / creators.”
As a result, we see companies of all shapes and sizes incorporating metaverse in a variety of ways, including brand names like Walmart, Nike, Gap, Verizon, Hulu, PWC, Adidas, i -Atari, and others, “wrote the writers.
JPMorgan went on to explain its metaverse approach. “The success of building and measuring in metaverse depends on having a strong and flexible financial ecosystem that will allow users to communicate seamlessly between the physical and virtual world,” explains the authors, adding:
Our payment system and financial infrastructure will allow that partnership to grow.
Investment Bank has set up a “Onyx by J.P. Morgan ”in Decentraland. The ground floor is an open-air leopard with a portrait of JPMorgan CEO Jamie Dimon. The lounge is above where there is a large table with paper and large screen screens. You can check out the rest area here .
JPMorgan lounge in Decentraland, top.
A JPMorgan report warns that “Metaverse components continue to emerge rapidly,” making it “difficult to support a business strategy in such a dynamic environment.”
However, the authors emphasized: “The costs and risks of participating early and consistently in building intellectual property, developing speculative ideas about future business models, and identifying partners and ecosystem partners are very low.” They explain:
The limited risk of abandonment is worth the extra investment needed to launch and test this new digital industry.
Do you agree with JPMorgan about metaverse? Let us know in the comments section below.
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