JPMorgan believes the metaverse — a seamless digital universe created by combining virtual reality, augmented reality, and the internet—will have transformative consequences for China and will influence gaming, advertising, and e-commerce.
The metaverse could triple China’s online-gaming market to $131 billion from $44 billion, according to the report. The potential for an improved user experience across various internet business models is one of the reasons why the digital world will be better for users, the bank said.
The metaverse “could turn everything into digital content in the long run,” the bank said. It estimates a $4 trillion TAM for the metaverse in China from “converting offline consumption across physical goods and services.”
Metaverse can help access business services
Metaverses and TMT development are said to have a significant impact on the entire technology, media, and telecom systems.
The metaverse, a term for a fully immersive online environment, could be a boon for companies such as NetEase, Tencent, Bilibili, Sea, Krafton and Bandai Namco, the note said.
Metaverse development is hindered by regulatory issues
Metaverse development is hindered by regulatory concerns around data security, technological readiness and affordability of virtual reality and augmented reality devices, and the network environment and artificial intelligence, the report says. You will also be interested in: Sony will start selling PlayStation VR2 headphones in early 2023