The major investment bank on Wall Street, JP Morgan, has unveiled its investigative report on the metaverse. At the same time, we learn that it now has a showcase in Decentraland (MANA). Let’s take stock of his view of this industry.
JP Morgan has opened her salon in the Metaverse
On the occasion of the publication of a research report on metaverses, JP Morgan unveiled its new living room in the Decentraland (MANA) metaverse. It is more precisely toOnyx, its blockchain division what it is, making it the first big bank have a “foothold” in this industry.
This illustrates the group’s desire to seize the new opportunities of Web 3.0, whose report begins developing this vision:
“We are not here to suggest that the metavers, as we know them today, will take over all human interactions, but rather to explore the many exciting opportunities it offers consumers and brands. »
JP Morgan forecasts that advertising spend will indeed weigh $18.41 billion in 2027 in this sector. The bank also notes that the prices of parcels doubled in 6 months last year, rising from an average of $6,000 in June to $12,000 in December for the four major blockchain metaverses: Decentraland, The Sandbox, Somnium Space, and Cryptovoxels.
It is therefore a market it sees as promising, in which it sees real-world services duplicated in these digital universes:
“Over time, the virtual real estate market may begin to see services similar to the physical world, including loans, mortgages and leases. »
The Wall Street giant is also seeing trade developing there, especially around digital consumables in the form of non-fungible tokens (NFT) that are attractive for personalizing avatars.
👉 To Move On – Metaverse: Understanding These Virtual Worlds Based On Blockchain And NFTs
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An entrepreneurial bank in the blockchain
JP Morgan is not on his first foray into the blockchain and this is beyond the metaverse. The most notable fact is the creation of the Onyx division with the issuance of the JPM Coin. the JPM Coin is a dollar-pegged stablecoin accelerate cross-border business payments. At the request of the customer, the group also offers an investment service in certain cryptocurrencies since last year.
Of course, if such news is positive for our ecosystem, we need to know stay critical. It remains mainly business and financial interest (even if there is nothing wrong with that). In addition, the banking group’s position relative to crypto-assets is often lacks consistency and it is not the founder of Uniswap who will say the opposite.
Anyway, if there’s still a long way to go before we arrive the metaverse way Ready Player Onehowever, large companies have well and good understand the emerging opportunities with this recent industry and in turn place their pawns in these universes.
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