Apr 2, 2022

Metaverse will become a $1 trillion market opportunity, says JP Morgan

Posted by in category: cryptocurrencies

And tells us how to get there. With a stream of big names revealing their intent to be a part of this upcoming digital world, the metaverse could be a $13 trillion industry by 2030, Citi Bank said in its report.

JP Morgan Chase has become the first bank in the world to set up shop in the metaverse. Its new office is located in the Metajuku Mall in Decentraland, a popular platform for buying real estate in the digital realm, Fortune reported.

Even as technology giants such as Meta and Microsoft are figuring out ways in which they want to build up their versions of the metaverse, real estate in other metaverse platforms are selling like hotcakes. 2021 was the best year in terms of sales valuation for metaverse so far and the numbers are expected to double in 2022. Interestingly, this is all playing out on platforms like Decentraland and Sandbox and JP Morgan wants in.

A potential market of trillion-dollars a year

About six months ago, JP Morgan flipped its stance about cryptocurrencies and gave its clients the opportunity to dive into crypto products. The company’s outlook has definitely broadened as it is now investing in the metaverse, much ahead of its peers.

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