JPMorgan Opens Virtual Lounge in Decentraland, Releases Metaverse Research Report

余YU

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2022-02-16 05:23

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JPMorgan claims it is the first bank to enter the Metaverse.

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Summary:

Summary:
Analysts at JPMorgan predict that in-game ad spending will reach $18.4 billion by 2027.

The average price of virtual land has doubled in the past six months, from $6,000 to $12,000, according to JPMorgan.

On Tuesday, JPMorgan Chase took a big step into the metaverse, opening the Onyx Lounge, a virtual lounge in Decentraland, a virtual world built on the ethereum blockchain. The name comes from its crypto and blockchain-focused division Onyx. JPMorgan claims it is the first bank to enter the Metaverse.At the same time, JPMorgan releasedResearch Report "Metaverse Opportunities"

(Opportunities in the metaverse), outlining the business growth opportunities associated with the metaverse and the reasons for the surge in market interest in it.

The report reads, “When you think about metaverse economics or virtual economy (Metanomics), there are opportunities in almost every market area. We are not here to imply that the metaverse as we currently know it will take over all human interactions, but is to explore the many exciting opportunities it presents for consumers and brands."

According to JPMorgan, the metaverse is likely to infiltrate every industry in some way over the next few years. The Metaverse is projected to have a $1 trillion annual revenue market opportunity as creators leverage Web3 to monetize their work in new ways.

"This democratic ownership economy, combined with the potential for interoperability, could unlock enormous economic opportunity for digital goods and services that are no longer tied to a single gaming platform or brand," the report said.

"Business leaders and boardrooms around the world are now asking themselves, 'What is my metaverse strategy? What should I be doing in the metaverse? What is the metaverse anyway?'"

According to data from four popular Metaverse platforms, the average price of virtual land doubled in the six months of last year, from $6,000 to $12,000. The bank predicts that in-game ad spending will reach $18.4 billion by 2027.

While the Metaverse is evolving very rapidly and it is difficult to build a business strategy in such a dynamic space, JPMorgan says "the risk of falling behind is worth the incremental investment required to get started".Before JPMorgan's move in the Metaverse,。

Morgan Stanley issued a related briefing to clients last month

Morgan Stanley analysts predict that Metaverse's initial addressable market size (TAM) in China will be as high as about $4 trillion as it replaces the mobile internet with a more immersive experience. That figure is expected to soar to $8 trillion once the Metaverse begins "disrupting offline activities" such as real estate showings, car test drives, and education.