Investment banks across the world have started to take crypto more seriously. Many have already entered the market and are slowly entering their affiliated technologies as well. Recently, global investment bank JPMorgan has set up a lounge in the popular Metaverse, Decentraland.
The investment bank had published a report recently titled “Opportunities in the Metaverse”. Christine Moy, global head of Liink, Crypto & Metaverse at Onyx, and Adit Gadgil, head of e-commerce solutions at JPMorgan payments wrote this report.
JPMorgan’s report states:
“The metaverse will likely infiltrate every sector in some way in the coming years. In fact, the market opportunity estimate it over $1 trillion in yearly revenues.”
Moreover, citing Grayscale investments, the report says:
“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.”
Other than that, JPMorgan talked about its approach to the metaverse. Moreover, the authors explained this, saying:
“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.”
JPMorgan has set up an “Onyx by J.P. Morgan” lounge in Decentraland. As of now, its ground floor contains a tiger walking around an open space along with a portrait of Jamie Dimon, CEO of JPMorgan. Besides this, users can access the lounge upstairs where there is a big table with documents along with large monitor screens.