JPMorgan published a document called “Opportunities in the metaverse”, where he explains what he considers business strategies in the metaverse. He reveals there that he opened a space in Decentraland.
JPMorgan America’s largest bank, reached the metaverse by opening a virtual world salon. Decentraland. But there’s more: in addition to the brief presentation of the salon Onyx (the name refers to the set of authoritative services based on the Ethereum a decentralized open-source blockchain with smart contracts functionality. of the bench), JPMorgan published a more comprehensive document entitled “ Opportunities in the Metaverse”. which explores how companies, including the bank itself, can find opportunities in the new virtual world.
JPMorgan en Decentraland
Although the document says very little about the JPMorgan in the virtual world, there are some images of it.
Media such as Bloomberg Línea explain that in the JPMorgan enDecentraland, visitors are greeted by a digital portrait of the institution’s own CEO, Jamie Dimon, next to a roaming tiger. After climbing a few stairs you can see a presentation by an executive about crypto.
The media says that the bank’s salon is in the shopping center. Metajuku deDecentraland. Onyx, la Blockchain a distributed ledger system. A sequence of blocks, or units of digital information, stored consecutively in a public database. The basis for cryptocurrencies. de JPMorgan The room was installed precisely as a reference in the document that speaks of the benefits of the metaverse.
What the document says
In the document, the bank begins by explaining the benefits of the metaverse, as well as how businesses can explore it:
“The elements of a new digital digital technologies are these electronic tools that have the ability to generate, store or even process data. age are converging at scale. The metaverse a metaverse is a digital universe that contains all the aspects of the real world, such as real-time interactions and economies. It offers a unique experience to end-users. is the driving force that brings these elements together into a unified, immersive experience.
We’re not here to suggest that the metaverse, as we know it today, will take over all human interactions, but to explore the many exciting opportunities it presents for consumers and brands alike. Whether it’s big tech players like Microsoft planning to create realistic workspaces or Ariana Grande giving a Fortnite concert, the opportunities presented by interactive digital worlds seem limitless. The metaverse is likely to infiltrate every industry in some form in the coming years, with a market an area or arena, online or offline, in which commercial dealings are conducted. opportunity estimated at over $1 trillion in annual revenue.
Como resultado, vemos empresas de todas las formas y tamaños que ingresan al metaverso de diferentes maneras, incluidos nombres familiares como Walmart, Nike, Gap, Verizon, Hulu, PWC, Adidas, Atari y otros. Los líderes empresariales y las salas de juntas de todo el mundo están ahora se preguntan: “¿Cuál es mi estrategia de metaverso? ¿Qué se supone que debo hacer en el metaverso? ¿Qué es el metaverso de todos modos?”.
Figures from the metaverse
Lista algunas de las cifras más relevantes citadas por JPMorgan:
- Every year, $54 billion is spent on virtual goods, almost twice as much as is spent on buying music.
- Approximately 60 billion messages are sent daily on Roblox2.
- Second Life’s GDP was approximately USD $650 million in 2021 with almost USD $80 million paid to the creators.
- Non fungible in cryptocurrency, fungibility is when a coin or token can be replaced by any other identical coin or token. tokens (NFT) currently have a market capitalization of USD $41 billion.
- 200 strategic partnerships to date with The Sandbox, including Warner Music Group to launch a virtual world with music tracks.
Mucho interés en el metaverso
“There’s a lot of interest from customers to learn more about the metaverse.” he told Coindesk in an email from Christine Moy, director of cryptography a field of study and practice to secure information, preventing third parties from reading information to which they are not privy. and metaverse at JPMorgan, “is the current reality and what must be built next in technology, business infrastructure, privacy/identity and workforce, to maximize the full potential of our lives in the metaverse.”
In the document, the bank talks about how the value of the metaverse has increased. It notes that the average price of a virtual land parcel doubled in the second half of 2021, jumping from USD $6,000 in June to $12,000 in December across the four main sites in the metaverseWeb 3: Decentraland, The Sandbox, Somnium Space y Cryptovoxels.
“Over time, the virtual real estate market could start to see services much like those in the physical world, including credit, mortgages and leases.” said the report by JPMorgan . He added that the management of decentralized decentralization refers to the property of a system in which nodes or actors work in concert in a distributed fashion to achieve a common goal. finance guarantees (DeFi) could well come into play and that, instead of traditional finance companies, this could be done by decentralized autonomous organizations (DAO).
Work in the metaverse will also be profitable, according to the report, which targets a variety of entertainment providers. Another big spend is likely to be on advertising, the bank said, citing a prediction that in-game ad spending will reach $18.41 billion by 2027.
Bank can help
The article by JPMorgan stated that many areas need improvement. These include the overall user experience and avatar performance, as well as the business infrastructure. He believes that’s where the bank can help:
“We believe that the existing virtual gaming landscape (each virtual world with its own population, GDP, gaming currency currency is a medium of exchange that defines value. and digital assets) has elements that parallel the existing global economy.” according to the bank’s report. “A hat’s where our long-standing core competencies in cross-border payments, foreign exchange, financial asset creation, trading and custody, plus our consumer position at scale, can play an important role in the metaverse.
Vale recordar que no es la única iniciativa del mundo de las finanzas relacionada con el metaverso. Ayer se reveló que la Bolsa de Valores de Nueva York, NYSE, made a registration of his trademark válido para el metaverso. Antes de ella, empresas de todo tipo lo han hecho. Recientemente se lanzaron al metaverso McDonald’s , Disney y Victoria’s Secret to mention just three of them from very different fields.
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