With the Metaverse Opportunity Topping $1 Trillion, It’s Time For Brands To Make the Leap
With the Metaverse Opportunity Topping $1 Trillion, It’s Time For Brands To Make the Leap
JP Morgan is betting on the metaverse, calling it a $1 trillion yearly opportunity in a recent report — and it’s putting its money where its mouth is, opening the first bank ever in the virtual world. It is a strong indicator of the opportunities for brands and businesses in the growing decentralized metaverse economy to enter this new space strategically.
What today’s metaverse opportunity looks like:
The decentralized metaverse, which encompasses platforms like Decentraland, Sandbox, Somnium Space, TCG World and more is all about community, and built on blockchain ownership. They are digital experiences that initially evolved out of gaming spaces like Minecraft, but have come to embrace a variety of social worlds and events, whether you are on a VR headset or in a browser.
From a decentralized standpoint, the metaverse is made up of a broad array of platforms, and the number of platforms is only going to increase in the next few years. What’s happening now is an opportunity, within those ecosystems, to define how much land is available for companies to buy or lease, and then build value on that chunk of virtual real estate.
Want to know the best practices for brands ready to take the leap to the Metaverse?