Dexnav | JPMorgan Chase Opens a Lounge in the Meta World

Dexnav | JPMorgan Chase Opens a Lounge in the Meta World

JP Morgan, a global investment bank, said, "The metaverse is likely to penetrate in some way over the next few years, with market opportunities estimated to exceed $1 trillion in annual revenue." The company has set up a lounge at Decentraland.

JPMorgan Chase in the meta world

Global investment bank JPMorgan Chase recently released a report entitled "Opportunities in the Virtual World. The report was authored by Christine Moy, global head of Liink, Crypto and Metaverse at JP Morgan Onyx, and Adit Gadgil, head of e-commerce solutions at JP Morgan Payments.

J.P. Morgan report details.

In the coming years, the metaverse is likely to penetrate in some way, with market opportunities estimated at more than $1 trillion in annual revenue.

The report cites research from Grayscale Investments, which states, "The meta world is estimated to present trillions of dollars in revenue opportunities in advertising, social commerce, digital events, hardware and developer/creator monetization."

"As a result, we are seeing companies of all shapes and sizes enter the virtual world in different ways, including household names such as Walmart, Nike, Gap, Verizon, Hulu, PwC, Adidas, Atari and others," the authors write.

JPMorgan Chase goes on to outline its approach to the metaverse. "The success of building and scaling in the metaverse depends on having a robust and flexible financial ecosystem that will allow users to seamlessly connect between the physical and virtual worlds," the authors explain, adding.

Our approach to payments and financial infrastructure will allow interoperability to grow.

The investment bank set up the "Onyx by JP Morgan" lounge at Decentraland. The first floor is an open space with a tiger walking around and a portrait of JP Morgan CEO Jamie Dimon. The lounge is upstairs, where there is a large table with papers and a large screen.You can find it hereExplore the lounge.

JP Morgan's lounge in Decentraland, first floor.

JP Morgan's lounge upstairs at Decentraland.

The JPMorgan report warns that "components of the meta-universe continue to evolve at a rapid pace," making it "difficult to base business strategy on such a dynamic space.

However, the authors emphasize that "the costs and risks of early and sustained engagement to build internal intellectual property, develop assumptions about future business models, and identify ecosystem partners and collaborators are relatively low." They elaborate.

The asymmetric risk of being left behind is worth the incremental investment you will need to start and explore this new digital environment for yourself.