The American investment bank JPMorgan became the first major bank in the metaverse – a branch of JPMorgan was launched on the virtual reality platform Decentraland.
Of course, at the moment, visitors to the Onyx Lounge branch located in the Metajuku virtual business center will not be able to receive real banking services. But they will be able to see presentations by JPMorgan CEO Jamie Dimon about cryptocurrencies. In addition, upon entering the virtual branch, visitors will be greeted with a growling tiger.
The Bank has released a report on the outlook for the metaverse. Analysts at JPMorgan indicated that from June to December last year, the average price of virtual land on the Decentraland platform increased from $6,000 to $12,000.
“The Metaverse will infiltrate every sector of the economy in one way or another in the coming years. Market opportunities in this area are estimated at more than $1 trillion per year. Already, more than $54 billion is being spent on virtual goods, which is twice as much as users spend on buying music,” the researchers emphasize.
JPMorgan analysts also noted that NFTs and the metaverse are seeing a significant influx of content creators looking to monetize their creations. And this will be one of the growth drivers of the Web3 economy.
“This democratic economy, coupled with new opportunities for interaction, could open up huge economic opportunities. Thanks to new technologies, digital goods and services will no longer be tied to a specific platform or brand,” the report says.
At the same time, analysts also noted the disadvantages of the metaverses – too much hype, lack of sophistication and difficulty in integrating with the current commercial infrastructure. However, as the sphere matures, these problems should become a thing of the past.
Earlier, JPMorgan’s strategic analyst team led by Nikolaos Panigirtzoglou released a report according to which the “fair price” of bitcoin is $38,000.
Source: Bits
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