BREAKING: JPMorgan Is the First Bank Into the Metaverse.

[Bitstar_coin]

           "JPMorgan Is the First Bank Into the Metaverse, Looks at Business Opportunities"



JPMorgan, the largest bank in the U.S., said it has become the first lender to arrive in the metaverse, having opened a lounge in Decentraland, a virtual world based on blockchain technology.

As well as the unveiling of the Onyx lounge (the name refers to the bank’s suite of permissioned Ethereum-based services), JPMorgan also released a paper exploring how businesses can find opportunities in the metaverse.

"There is a lot of client interest to learn more about the metaverse,” Christine Moy, JPMorgan’s head of crypto and the metaverse, said in an email. “We put together our white paper to help clients cut through the noise and highlight what the current reality is, and what needs to be built next in technology, commercial infrastructure, privacy/identity and workforce, in order to maximize the full potential of our lives in the metaverse.”

With the mainstream acceptance of things like non-fungible tokens (NFT), the past year has seen a breathless advance into the metaverse, a catch-all for immersive gaming, world-building and entertainment, fueled by integrated commerce applications. In January, electronics giant Samsung opened a version of its New York store in Decentraland, and in November Barbados established a metaverse embassy, also in Decentraland.

JPMorgan begins its assessment of “metanomics” by pointing out that the average price of a parcel of virtual land doubled in the latter half of 2021, jumping from $6,000 in June to $12,000 by December across the four main Web 3 metaverse sites: Decentraland, The Sandbox, Somnium Space and Cryptovoxels.

“In time, the virtual real estate market could start seeing services much like in the physical world, including credit, mortgages and rental agreements,” said the JPMorgan report. It added that decentralized finance (DeFi) collateral management could well come into play, and that rather than traditional finance companies this could be done by decentralized autonomous organizations (DAO).

Find the full story here

PDF :- JPMorgan Opportunities in the metaverse

Okay now this is getting really interesting, I have read a lot of mixed feelings about metaverse and nft but when you keep seeing mainstream companies diving into these ecosystems without giving a second thought should make you wonder why, and I do agree with Mr Morgan about the cost of virtual land then and now and what the virtual real estate market could become in future.
So my fellow forum dwellers, is anyone getting into virtual real estate now or you will rather wait when the metaverse ecosystem has become more certain before you make the move? Don't forget being an early bird has advantage  

[crwth]

This interests me because it could start something that hasn't been explored too much yet (in terms of its technology) with blockchain technology and actual ownership of stuff. Everyone could stay in the metaverse or something like that.

Maybe if there's a summary of why businesses should go on to the metaverse, it could propel the technology even more.

[cryptoaddictchie]

Maybe if there's a summary of why businesses should go on to the metaverse, it could propel the technology even more.

Thats right. If someone who has a vivid idea of the whole metaverse ecosystem then definitely everyone even the general community will be educated on how it works and can be applied on the real world usage. Most of metaverse enthusiast are the older community whom invested on crypto and some of those who are early due to axie infinity hype and now they are exploring a lot of nft and many projects.

[makishart]

This may become a very big news for the metaverse. I thought that when another bank will try to go to the metaverse and im sure that retail will be also following this. It seems like those big brands need to join into the metaverse again. It seems like the virtual world will become the next pit stop for the virtual economy. As long as more and more big companies join in the metaverse and this may become a very big thing for sure.
Im so glad to see that JP morgan is taking a step ahead than another blockchain.

[Bitstar_coin]

Maybe if there's a summary of why businesses should go on to the metaverse, it could propel the technology even more.

I found a book he wrote on this not exactly a summary so don't expect a short read, this is a detailed explanation about the metaverse opportunities by jp Morgan, it is a pdf file but very informative.
Opportunities in the metaverse

[cryptomaniac_xxx]

Just a matter of time before the guys at JPMorgan will go and join Metaverse.

Regarding if we should dwell this early at virtual real estate, personally, I'm not totally sold about it. Maybe it could boom in the next couple of months. So good luck for those who think that this is going to be the next big thing for Metaverse specially that JPMorgan is into it.

[trendcoin]

Cryptocurrencies can be a competitor of banks or an alternative to banks. It can even be the enemy of banks. But banks do not see anyone as friend or enemy, competitor or alternative. There are areas where banks can make money and not make money. They only evaluate the situation from this perspective. :) If the states complete the legal regulations; banks will become more sensitive to cryptocurrencies and we will see more of this type of news.

[avikz]

It seems Jemie is sitting on a pile of public cash and he doesn't have an idea on how to spend it. As a result, we are seeing such nonsense of seeing a bank in metaverse. It's hilarious and shocking at the same time!

Because Jemie is a know bitcoin hater. Now when his company is marking their presence in metaverse, I smell a rat! It is very much possible that he has some evil plan to execute. Never trust a banker!

[Jackl87]

          "JPMorgan Is the First Bank Into the Metaverse, Looks at Business Opportunities"


JPMorgan, the largest bank in the U.S., said it has become the first lender to arrive in the metaverse, having opened a lounge in Decentraland, a virtual world based on blockchain technology.

That does not surprise me to much to be honest, because in the end the risk for big companies like JPMorgan for joining the metaverse or close to 0 in my opinion. I am not that familiar how expensive the land plots in decentraland are at the moment but i would guess you will get a pretty decent one for a few thousand dollars at max and let's be real here that is absolutely nothing for a huge bank like JPMorgan that is dealing with billions of dollars usually. If it works out for them they can aquire a whole new group of potential customers for their banking producs in the metaverse that maybe would have never been reachable in the traditional way.

[naira]

It seems Jemie is sitting on a pile of public cash and he doesn't have an idea on how to spend it. As a result, we are seeing such nonsense of seeing a bank in metaverse. It's hilarious and shocking at the same time!

Because Jemie is a know bitcoin hater. Now when his company is marking their presence in metaverse, I smell a rat! It is very much possible that he has some evil plan to execute. Never trust a banker!

When Facebook shares plummeted, JP stepped in by buying his large amount of fiat money and expending nearly 50% of the land in the Metaverse. So who will stay rich and bathed in paper money? which is definitely not us. It is JPMorgan who will be the greatest ruler of the Metaverse at a time when everyone else has suffered from the worst Facebook stock crash in its history. No one has made a profit other than the JPMorgan people who occupy the Metaverse.

[Bitstar_coin]

When Facebook shares plummeted, JP stepped in by buying his large amount of fiat money and expending nearly 50% of the land in the Metaverse. So who will stay rich and bathed in paper money? which is definitely not us. It is JPMorgan who will be the greatest ruler of the Metaverse at a time when everyone else has suffered from the worst Facebook stock crash in its history. No one has made a profit other than the JPMorgan people who occupy the Metaverse.

Maybe now is the time to change your perception, metaverse is for everyone as long as you know what to look out for, aside from being an investor or an early adopter, he has wrote a book detailing how companies and private people can earn from metaverse, there are many upcoming metaverse project to invest on, not just jp morgan, but many investors are also earned profit from metaverse.
Take a look at Sandbox, Decentraland, Gala, Rmrk, Derace Altura, SinCity and so on, those who invested in this project have made huge profit and if you are a land owner you will make even more, anybody can be in metaverse and profit from it,
Just like we have those whales controlling btc so also you will have whales in control of metaverse but it won't stop you from earning something from your investment.

It seems Jemie is sitting on a pile of public cash and he doesn't have an idea on how to spend it. As a result, we are seeing such nonsense of seeing a bank in metaverse. It's hilarious and shocking at the same time!

Because Jemie is a know bitcoin hater. Now when his company is marking their presence in metaverse, I smell a rat! It is very much possible that he has some evil plan to execute. Never trust a banker!

Perhaps soon you will know if it is hilarious or not, how can a he have access to a pile of public cash according you and have no clue what to do with it, he must be in his first year career as a banker  
A lot of people was once btc hater but now some of them have since change their mind, anyone can have a change of thoughts when they understand something much better, or probably he found more opportunity in metaverse than with btc.