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

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

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 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 is the head of e-commerce solutions at J.P. 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 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 proceeded to outline its approach to 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: Our approach to payments and financial infrastructure will allow that interoperability to grow.

The investment bank has set up an “Onyx by J.P. Morgan” lounge in Decentraland. The ground floor is an open space with a tiger walking around and a portrait of JPMorgan CEO Jamie Dimon. The lounge is upstairs where there is a big table with documents on it and large monitor screens. You can explore the lounge here. JPMorgan’s lounge in Decentraland, ground floor. JPMorgan’s lounge in Decentraland, upstairs.

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: 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. Tags in this story J.P. Morgan, jpmorgan decentraland, jpmorgan lounge, Jpmorgan metaverse, jpmorgan payments, liink, Metaverse, metaverse $1 trillion, Metaverse Market, onyx by jpmorgan

Do you agree with JPMorgan about the metaverse? Let us know in the comments section below. Kevin Helms

A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography. Webbland Metaverse Sales Jump 126% as 2 Penthouses Sell for Six-Figures METAVERSE | 15 hours ago New York Stock Exchange Files Trademark for Offering Trading Services in the Metaverse METAVERSE | 5 days ago

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