on the crypto
In February, NFT trading volumes may have fallen from their all-time highs in January. Based on the news traffic, however, it could prove to be a pause. For the Metaverse, companies and industries are drawn to the endless opportunities that the Metaverse presents.
It has been an active start to the year for the Metaverse, with some big names entering the virtual world. Last week, Gucci bought LAND in the Sandbox (SAND). This follows McDonald's and its celebration of the Year of the Tiger. Music giant Warner Music Group has bought a piece of land on the beach in Decentraland (MANA). Following the news of Tennis Australia going virtual for the Australian Open, a 4-day digital fashion week is also planned for Decentraland.
Considering the level of interest and rapid progress in creating events in the Metaverse, mainstream players are likely to want to play hide and seek. The Metaverse removes boundaries, giving access to a global audience.
This week, the beauty and lingerie powerhouse Victoria's Secret joined the growing list of leading brands with Metaverse ambitions.
JPMorgan has put its money where its mouth is and has also bought land in Decentraland. The bank ofinvestment US turned bullish on the Metaverse, predicting a $ 1 trillion market in a recently released paper.
Entitled "Opportunities in the Metaverse" JPMorgan talks about the limitless opportunities that the Metaverse presents. These range from the likes of Microsoft creating virtual workspaces to musical artists giving concerts. As a result of the opportunities, the bank sees all types and sizes of businesses entering the Metaverse.
Some key figures from the document include:
With regulatory scrutiny on NFTs and the Metaverse on the rise, JP Morgan noted that many issues need to be addressed, including:
Considering the above issues and the pace at which companies are entering the Metaverse, a major regulatory change is likely. Today, JP Morgan could have a room in Decentraland, tomorrow they could be virtual offices. Virtual office space would eliminate major fixed costs from business expenses. The COVID-19 pandemic and work-from-home policies have shown that organizations can remain a “going concern” without entire “in-office” workforces.
At the end of last year, we reported more than 1.300 Chinese companies filing Metaverse-related trademarks by mid-December. A few months earlier, the number of deposits had stopped at just over 100.
Cryptocurrencies have revolutionized the world of economics and investment, offering a decentralized alternative to traditional…
Milkomedia-C1 announced the integration of the DJed stablecoin network on its platform. Milkomeda C1, a…
Cryptocurrencies have gained immense popularity over the last decade, attracting investors from all over the world. However,…
The former cryptocurrency exchange FTX was based in the Bahamas. The island nation has not been…
As Shiba Inu adoption skyrockets, the memecoin and the entire Shiba ecosystem…
The adoption of digital currencies such as Bitcoin has continued to grow unabated. Many…