JPMorgan Enters Decentraland Metaverse

JPMorgan has officially become the first bank institute to join the Metaverse by opening a virtual lounge in the popular Metaverse, Decentraland.

With a $1T market opportunity potential, big names are joining the Metaverse including fashion brands as we mention in the “Battle of the Metaverse” article.

The Onyx LoungeΒ is named after JPMorgan’s in-house blockchain payment system. It’s located in Decentraland’s Metajuku Mall, where guests are greeted by a roaring tiger and a digital portrait of Jamie Dimon, CEO of JPMorgan. Also, if players walk upstairs, they can watch an executive’s presentation on the economics of cryptocurrency.

The next step will be to open a branch where users can get loans, stocks and other financial services.

” The Metaverse will likely infiltrate every sector in some way in the coming years, with the market opportunity estimated at over $1 trillion in yearly revenues,” while also highlighting that $54 billion is already being spent on virtual goods each year β€” twice the amount spent on buying music.

JPMorgan

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