a market with great potential

The prediction game has long led the cryptocurrency world. This time around, JPMorgan analysts focused on the Metaverse market, especially the video game market. According to studies, the Metaverse game market could explode in China. And this, despite the current regulations that present some difficulties of adoption. With the development of digitalization of companies, this growth could at the most exceed 100 billion dollars. The analyst team explained the reasons for this potential explosion in their report.

For JPMorgan experts, Metaverse games will explode in China. Despite the loose structuring of this type of market and the limitations imposed by cryptocurrency legislation in the country, many believe there are real growth opportunities. According to the famous investment bank, the boom could exceed 100 billion dollars.

JPMorgan has listed major Chinese companies that could benefit from the explosion of this Metaverse sector. This includes Tencent, a conglomerate that offers internet gaming and artificial intelligence services. But there is also NetEase, a gaming giant in China. According to the report, NetEase has a virtual meeting room system called Yaotai. Tencent, meanwhile, already uses a videoconferencing application, the “Tencent Meeting”. Incidentally, this company also has extensive experience in managing China’s largest mobile social network Weixin / QQ. This allows him to benefit from selling virtual items on these platforms. Also on the list are companies such as Bilibili, Agora and China Mobile.

Chinese metaverse
China: Metaverse gaming market will explode / source: bitcoin news

The digital market is progressively integrating companies

JPMorgan adds that with the metaverse, time spent online is likely to double from the current average of 6.6 hours in China. Estimates indicate that the Metaverse gaming market will grow from $ 44 billion to $ 131 billion, nearly three times its value, with numerous mainstream gaming companies looking to enter this new market.

The companies will greatly contribute to the growth of the market in China. JPMorgan estimates that the total market in China for business services and software in the metaverse will be $ 27 billion. The digitization of offline consumption of goods and services will be a $ 4 trillion market in the country. This concerns companies ready to change their business model to go digital.

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The editorial staff of Cointribune

The Cointribune editorial team joins their voices to express themselves on specific topics of cryptocurrencies, investments, metaverse and NFT, trying to best answer your questions.

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