# Hanging out in the metaverse By [Brandon Donnelly](https://brandondonnelly.com) ยท 2022-02-23 crypto, deadmau5, decentraland, jp-morgan, metajuku-district, metaverse, report, tech, web3 --- ![](https://storage.googleapis.com/papyrus_images/8ae87b92eddde22ebcb9e9e5dfc9b51e.png) I've only hung out in [Decentraland](https://decentraland.org/) a few times. One of the times was to check out a [Deadmau5](https://deadmau5.com/) concert, which was cool, though not quite the same as a live show. But I have no doubt that all of this is a big deal and that I'll probably end up at another virtual concert at some point. JP Morgan, for example, just opened up a virtual banking lounge in Decentraland's Metajuku district, called the [Onyx Lounge](https://decrypt.co/93033/metaverse-crypto-decentraland-up-jp-morgan-calls-niche-1-trillion-opportunity). They also just released [this new report](https://www.jpmorgan.com/content/dam/jpm/treasury-services/documents/opportunities-in-the-metaverse.pdf) talking about how the metaverse is probably a $1 trillion market opportunity (based on their projected yearly revenues). Here are some other figures. In 2019, about [$54 billion was spent on virtual/digital goods](https://www.matthewball.vc/all/metaversepayments). These are things like game skins. This is compared to $42 billion at movie theaters and $30 billion on recorded music. So things that are purely digital (and have a very low marginal cost) are already a huge deal and people are spending a lot of money on them. Last year, [the market cap of NFTs also surpassed $40 billion](https://www.bloomberg.com/news/articles/2022-01-06/nft-market-surpassed-40-billion-in-2021-new-estimate-shows). The naysayers will tell you that you can just "right-click, save as" instead of spending any crypto on NFT images, but clearly something broader is underway. JP Morgan is [of the opinion](https://www.jpmorgan.com/content/dam/jpm/treasury-services/documents/opportunities-in-the-metaverse.pdf) that it is only a matter of time before the metaverse infiltrates every sector of the economy in some way, shape, or form. Would you agree? _Image:_ [_Decrypt_](https://decrypt.co/93033/metaverse-crypto-decentraland-up-jp-morgan-calls-niche-1-trillion-opportunity) --- *Originally published on [Brandon Donnelly](https://brandondonnelly.com/hanging-out-in-the-metaverse)*