JPMorgan is the first bank to venture into the metaverse and it created the Onyx Lounge on Decentraland for users to explore. The name of the new lounge comes from the bank’s Ethereum-focused services and it sets the tone for the future of finance. As JPMorgan outlined in a whitepaper: “In time, the virtual real estate market could start seeing services much like in the physical world, including credit, mortgages and rental agreements.”
Within the metaverse, there’s much for the bank to explore in the future, including its own in-game currency, digital assets and potentially even the sale of digital real estate, as well as other avenues of opportunity to “parallel the existing global economy.”
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