J.P. Morgan predicts that the metaverse is a $1 trillion yearly opportunity

J.P. Morgan Chase is the first bank to enter the metaverse. They are in Decentraland and plan on expanding to other platforms like Sandbox. 

Joining other big brands, influencers and businesses, J.P. Morgan Chase set up the first virtual office in the Metaverse. Visitors are greeted by a digital portrait of Jamie Dimon and a roaming tiger. Walk upstairs and they will see an executive’s presentation on the crypto economy. 

The virtual office is located at the Metajuku mall in Decentraland, a browser-based metaverse.

J.P. Morgan has been undertaking efforts to build out its blockchain and crypto expertise and infrastructure. 

Onyx, J.P. Morgan’s blockchain unit formed in 2020, set up the lounge as it released a paper on how businesses can explore opportunities in the metaverse

“The bank predicts that the metaverse will become a $1 trillion market opportunity in yearly revenues, given that its virtual worlds will “infiltrate every sector in some way in the coming years”

J.P. Morgan

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