Ellen Britt for CNT #NFT
JP Morgan, the American multinational investment bank and financial services company, recently released a report on the metaverse. We brought you news about this report a few weeks ago, but today will dive in a little deeper.
JP Morgan has also directly invested in the metaverse with a swanky new office in Decentraland’s virtual shopping district, the Metajuku mall, so they definitely have skin in the game.
What’s Your Metaverse Business Strategy?
If you are a business owner or planning to start a business, then there is a portion of the JP Morgan report that you should definitely take into consideration, and that is “what is your metaverse strategy?”
According to JP Morgan, many of the business models with which we are familiar will remain, but now that the metaverse is here, it opens up an entirely new realm of possibilities in terms of how to engage with customers and will undoubtedly lead to new business models and services. Business owners should be aware that not everything in the metaverse will apply to their particular business, but at this point, you should at least be aware of the possibilities.
The report contains several key questions you, as a business owner, should ask yourself. Among the most important of these are:
If your business were in the metaverse, what value can you create for the community there?
What Makes Sense?
In your business, what are the services and experiences that are already in place that could be translated to this virtual ecosystem? And we would add, what new services or experiences could you bring to the space?
Do you have talent in house to make your company’s presence in the metaverse possible or will you need to recruit new team members?
Do your competitors already have a presence in the metaverse? And we would add, if not, you can be sure they are thinking about it!
So take some time to sit down with your team and discuss how your business could benefit from being in the metaverse, draft a plan and start to implement. It’s go time!