The Global Investment Bank mentioned JP Morgan Lobby in Metaverse has recently released a report called “Opportunities to make a difference in the Metaverse.”
Christine Moy and Adit Gadgil prepared the document. Moy is the head of Link crypto, cryptocurrencies, and Metaverse for Onyx through JP Morgan, and Gadgil is the head of e-commerce solutions for JP Morgan Payments.
Future of JP Morgan Lobby in Metaverse Decentralization
The report states that the metaverse is expected to penetrate every industry in the next few years, and market opportunities are being estimated at greater than USD 1 trillion, or approximately IDR 14.3 quadrillion annually in revenue.
The report references the research of Grayscale Investments that states the Metaverse is believed to represent an opportunity for trillions of dollars in revenue across advertisements, social commerce hardware, digital events, and creator or developer revenue generation.
We see businesses of all sizes and shapes joining the Metaverse in various ways and include famous brands such as Walmart, Nike, Gap, Verizon, Hulu, PWC, Adidas, Atari, and more. Bitcoin.com on Tuesday (1/3/2022).
JP Morgan also elaborated further in their report about their method of approaching the metaverse to be a part of it.
“”Successfully creating and expanding in the metaverse depends on a strong and flexible financial system that will allow users to link the virtual and physical realities seamlessly,” stated the business JP Morgan.
“Our financial infrastructure and payments strategy will enable interoperability to increase,” he continued.
JP Morgan, an investment company, has put up the “Onyx By JP Morgan” waiting room in Decentraland. The ground floor has an open area with a tiger roaming about and a photo of JP Morgan CEO Jamie Dimon. The lounge is located upstairs, where there’s a massive table with documents and a giant monitor.
This JPMorgan review warns that the Metaverse is evolving at such a rapid pace, and it’s hard to determine the best business approach based on a constantly changing space.