Metaverse Opportunities | Steve Aoki's Decade-Long Royalty Income Victory, JPMorgan Chase Ventures into Decentraland Lounge

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Steve Aoki Wins Decade's Music Royalties in One Year with NFTs

Famed DJ Steve Aoki recently took part in a private music event hosted by blockchain infrastructure firm Gala Games. Steve Aoki stated that the current music industry's royalties are negligible, with his live performances accounting for 95% of his overall income. He believes that music NFTs have the potential to bring progress and serve as a way to support artists. He even mentioned that the income he made from music in the past decade is less than what he earned from NFTs last year, leaving him puzzled about the music business. Steve Aoki is not only a spokesperson and collector of NFTs but has also recently launched Aokiverse NFT https://a0k1verse.xyz/, which serves as a membership system integrated with physical events, allowing participation in concerts and other digital/physical airdrops.

JPMorgan Opens Virtual Lounge in Decentraland, Releases Metaverse Report

JPMorgan has opened a virtual lounge named onyx lounge in the Metajuku area of the virtual world Decentraland, inspired by JPMorgan's Metaverse investment opportunity report https://bityl.co/Ax2h, and it also serves as part of JPMorgan's blockchain payment system https://bityl.co/Ax2p. Within this virtual space, there is a virtual tiger and a photo of CEO Jamie Dimon, and upon entering the building, players can watch videos about the cryptocurrency economy.

In the report, JPMorgan stated that the concept of the metaverse will permeate various fields in the coming years, with a market potential of up to a trillion dollars, and there is already $54 billion spent annually on purchasing virtual goods. JPMorgan also noted the surge in virtual land values and is optimistic that by 2027, in-game advertising spending will reach $18.4 billion annually.

JPMorgan believes that the metaverse opportunities will enable creators to profit in new Web3 ways, driving new economic models that allow digital goods and services to transcend single-game platforms and brands. The integration of major brands into the metaverse, such as adidas, Nike, and Samsung, is seen as a significant step forward.

However, JPMorgan commented that despite the potential for self-expression, community building, and commerce in the metaverse, there are areas that need improvement, such as inadequate user experience, poor performance of virtual avatars, and insufficient commercial infrastructure.

Disney Ventures into the Metaverse

Disney CEO Bob Chapek has appointed senior executives to develop a metaverse strategy, aiming to transform stories into reality in a more immersive and impactful way through new technologies, repositioning entertainment. Disney believes that the metaverse will be the next frontier of storytelling.