China’s Metaverse Gaming Market Might Explode to Over $100 Billion According to JPMorgan

China"s Metaverse Gaming Market Might Explode to Over $100 Billion According to JPMorgan

Analysts from JPMorgan believe that the metaverse gaming market could explode in China even with the current state of regulation, which presents certain difficulties for adoption. Companies like Tencent, Netease, and Bilibili are JPMorgan’s picks when it comes to taking advantage of this potential growth, that at best, might pass the $100 billion mark. JPMorgan Analysts Believe Metaverse Gaming Set to Boom in China

The metaverse and the market derived from this new industry trend have been objects of study by different institutions interested to enter this newfound market. While it is a loosely structured and defined market, some think there are real growth possibilities. Analysts from JPMorgan believe there is a tremendous possibility of an explosion in this sector in China, even with the current limitations imposed by crypto legislation in the country.

JPMorgan has selected the top industries that would benefit from a boom in this sector in China. Among these are Tencent, a conglomerate that offers internet gaming and artificial intelligence services, and Netease, another gaming giant in the country. Other companies mentioned by JPMorgan are Agora and China Mobile.

The recommendations are based on criteria for the development of these companies regarding social media and gaming. About this, the report issued on September 7th states:

Development of mobile internet and AI in the past 5-10 years suggests that a company’s competitive advantage in one part of the tech ecosystem is often more important in determining long-term value creation to shareholders than which part of the ecosystem the company operates in.

The metaverse gaming market, which many traditional gaming companies are already trying to enter, is estimated to grow from $44 billion to $131 billion, almost tripling its value. Digitalizing Tasks and Businesses

These estimations are heavily based on the belief that the metaverse will change the way in which people conduct their actions and businesses in the future. Time spent by people online is expected to double the average today, which is estimated at 6.6 hours by the financial institution.

Businesses and services will ostensibly also be a big part of the growth of the market in China. The market for these services related to the metaverse will be $27 billion, and the digitalization of physical activities will contribute even more, opening a market of $4 trillion to companies ready to change their business model to go digital. Tags in this story ai, Bilibili, China, digitalization, Gaming, jpmorgan, Metaverse, netease, tencent

What do you think about JPMorgan’s newest metaverse report? Tell us in the comments section below. Sergio Goschenko

Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late to the game, entering the cryptosphere when the price rise happened during December 2017. Having a computer engineering background, living in Venezuela, and being impacted by the cryptocurrency boom at a social level, he offers a different point of view about crypto success and how it helps the unbanked and underserved. Web3 Gaming Still Growing Despite Economic Woes, According to Dappradar Report METAVERSE | 14 hours ago Ford Files 19 Trademark Applications Preparing a Possible Metaverse Push METAVERSE | 3 days ago

Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleWeb3 Gaming Still Growing Despite Economic Woes, According to Dappradar Report Next articleBitcoin, Ethereum Technical Analysis: BTC Drops by Over $2,000 in the Last 24 Hours Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItOman to Incorporate Real Estate Tokenization in Virtual Assets Regulatory Framework

Real estate tokenization is set to be incorporated into Oman Capital Markets Authority (OCMA)"s virtual asset regulatory framework. According to an advisor with the authority, the tokenizing of real estate will open investment opportunities for local and foreign investors. Real ... read more.Following a Brief Fee Spike, Gas Prices to Move Ethereum Drop 76% in 12 Days Draft Law Regulating Aspects of Crypto Taxation Submitted to Russian Parliament Digital Ruble ‘Much Needed,’ Russia’s Central Bank Says, Won’t Delay Testing Microbt Reveals Latest Bitcoin Mining Rigs — Machines Produce up to 126 TH/s With Custom 5nm Chip Design