JPMorgan Opens A Bank Branch In The Metaverse (But It’s Not For What You Think It’s For)
“Virtual branches are the next logical step for how financial institutions can utilize virtual reality.
Imagine never having to take a break during working hours and wait in a line at the bank. Now imagine getting personalized banking service at the comfort of your home, when it’s convenient for you while enjoying a cup of coffee.”JPMorgan doesn’t appear to believe that its metaverse lounge will serve random metaverse visitors who will, on a lark, decide to open a checking account, however.
For both virtual worlds, the average investment in land was about $5,300, but prices have grown considerably from an average of $100 per land in January 2021 to $15,000 in December 2021, with rapid growth in the fourth quarter when the Sandbox Alpha was released. In the past month, sales of property on the six most popular virtual worlds brought in more than 52,000 ETH—roughly $169 million—on NFT trading platform OpenSea.
A “mortgage” isn’t the right analogy for purchasing virtual property in the metaverse. Commercial real estate lending is the better analogy.rose 700% in 2021, but it isn’t just price speculation that’s driving the increase—it’s the opportunity to monetize virtual land with games, events, and other revenue-producing ideas.real estate lending.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
JPMorgan Opens A Bank Branch In The Metaverse (But It’s Not For What You Think It’s For)Claiming to be the first bank in the metaverse, JPMorgan announced the opening of a “lounge” in Decentraland. The bank doesn’t appear to believe that its metaverse presence will serve random metaverse visitors who will, on a lark, decide to open a checking account, however.
Read more »
'$1T opportunity': JPMorgan becomes first major bank in the MetaverseJP Morgan, the largest bank in the US has become the first to enter the Metaverse with its own lounge in Decentraland. It has also released a report that predicts the Metaverse will generate $1 trillion in revenue each year.
Read more »
Even a membership to a wholesale supplier can't help you escape higher pricesIt's not just the producer price index going up, it's also the number impacting consumers.
Read more »
Oscars 2022: How the races are shaping up after the nominationsNow that we have the nominations, it's time to think about who will win the Oscars.
Read more »
Dual-Use Dispensaries Technically Noncompliant for Past Two YearsBecause the issue stems from a legislative error, the MED hasn't taken action against the dispensaries. But the department doesn't have the authority to fix the error, either.
Read more »