JPMorgan Becomes The First Bank To Enter The Decentraland Metaverse.

JPMorgan, the Wall Street giant has opened a “lounge” in the Decentraland Metaverse.

JPMorgan, the largest bank in the United States, has launched a lounge in the blockchain-based virtual world Decentraland, making it the first bank in the metaverse.

Onyx was the name of the newly opened lounge. The banking giant has also posted a paper discussing how firms might make positive changes in the metaverse.

Christine Moy, JPMorgan’s head of crypto and metaverse, said:

“Customers have a keen interest in learning about the metaverse,” 

With the growing acceptance of products like NFT, the metaverse encompassing the gaming and entertainment industries has also made astounding development. In January, Samsung, one of the world’s leading technological corporations, established a store in Decentraland.

Barbados has also set up a metaverse office on Decentraland.

In its analysis, JPMorgan also highlighted the virtual real estate market:

“With time, the virtual real estate market may begin to see services similar to those found in the physical world, such as loans, mortgages, and leases.”

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Patrick

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