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

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

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

By Ian Allison

The Wall Street bank has opened a lounge in blockchain-based Decentraland.

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).

Work in the metaverse will also be gainful, said the report, pointing to a range of entertainment providers, as well as apps like RTFKT, a virtual shoe designer recently acquired by Nike. Another big spend will likely be on advertising, the bank said, citing a prediction that in-game ad spending is set to reach $18.41 billion by 2027.

The JPMorgan paper attempted to illustrate the metaverse hype versus the reality, stating that many areas need to improve. These include the overall user experience and performance of avatars, as well as commercial infrastructure.

“We believe the existing virtual gaming landscape (each virtual world with its own population, GDP, in-game currency and digital assets) has elements that parallel the existing global economy,” according to the bank report. “This is where our long-standing core competencies in cross-border payments, foreign exchange, financial assets creation, trading and safekeeping, in addition to our at-scale consumer foothold, can play a major role in the metaverse.”

 

Editor’s Note: 

New Global Currencies

New Resistance Global Currencies that support Independent Media and are against the “Great Reset” –

Our World Coin, a force for good and a peaceful revolution, is built to save humanity from the Globalists deadly Great Reset Totalitarian Agenda.

Bitcoin 2.0 is a new cryptocurrency that is looking to innovate the Global Payment System. It is backed by real value in independent media news sites & networks.

Truth Coin, a platform that’s free from Globalists’ control, and will not support the Great Reset Agenda or the vaccine digital passport. This enables everyone to support and benefit from building a better world, by the people for the people, a force for good.


Original Source: https://www.coindesk.com/business/2022/02/15/jpmorgan-is-the-first-bank-into-the-metaverse-looks-at-business-opportunities/

Leave a Reply

Your email address will not be published. Required fields are marked *

Recent Comments

26 May 22
It’s not just our games that are exclusive too, our range of online casino bonuses could have you enjoying some free spins, no deposit needed! Our no deposit bonus means you could take a few free spins of our award-winning games! No deposit bingo basically means you receive free bingo money to use on the bingo site just for signing up. You do not need to make a deposit in order to receive the free cash. Jet Bingo Casino provides an opportunity to get high bonuses to make your game even more profitable. Information about current promotions is updated on the website every week. We recommend you constantly follow the latest news, and subscribe to the email newsletter. We offer a number of opportunities for Players to qualify for bonus credit which is added to a Player’s Bonus Credit Account. This includes, for new Players, the Introductory Free Spins, Deposit Activated Free Spins and the Deposit Match Bonuses. Other bonuses are available from time to time. All bonuses can be used to win real money. https://iamnri.com/forum/profile/octavial2582220/ Please enter a valid email address. Unibet Poker The Poker Show Gifts for any interest. Designed and sold by artists. There is nothing worse than getting to the poker table ready for a long session, then realizing you only have 10% battery left on your phone of music device. It can ruin your mental state at the table and end disastrously. Every poker player should be carrying one around with them. Crypto Payments and Absolute Anonymity  You may also go for poker merchandise, such as t-shirts and hats showing how much they love the game. A good poker book which they can read to improve their skills and motivate themselves to do better is always a nice gift. Pick up a book like ‘Life’s A Gamble’ by the late Mike Sexton and you have a great book. ItВґs also worth remembering that, when you make a deposit at an online poker site with a cryptocurrency, the dollar value is what is credited to your account. It doesnВґt matter whether the price of Bitcoin subsequently increases or falls – your dollar value stays the same. Obviously, US poker sites are clearly hoping the price rises, or they would not be offering such great Xmas incentives!
26 May 22
Haematemesis udg.dzvs.canadiantimes.live.bfu.kr engorged endoscopically [URL=http://stillwateratoz.com/corion-inj/ - corion inj generic canada[/URL - [URL=http://deweyandridgeway.com/item/stromectol/ - stromectol in usa[/URL - [URL=http://foodfhonebook.com/red-viagra/ - red viagra from china[/URL - [URL=http://myquickrecipes.com/levitra-pack-30/ - order levitra-pack-30 online[/URL - [URL=http://center4family.com/prednisone-no-prescription/ - prednisone no prescription[/URL - [URL=http://deweyandridgeway.com/item/careprost-applicators/ - buy careprost applicators w not prescription[/URL - [URL=http://heavenlyhappyhour.com/kamagra-gold/ - online kamagra gold[/URL - [URL=http://livinlifepc.com/clomid/ - clomid 50mg en france[/URL - [URL=http://center4family.com/tadalafil-20-mg/ - cialis generic 20 mg[/URL - [URL=http://mpesarates.com/prices-for-tadalafil/ - cheap tadalafil pills[/URL - [URL=http://livinlifepc.com/generic-viagra-uk/ - viagra[/URL - [URL=http://advantagecarpetca.com/item/testosterone-anadoil/ - testosterone-anadoil from india online buy[/URL - [URL=http://damcf.org/toradol/ - toradol generic[/URL - [URL=http://outdoorview.org/paracetamol-best-price-usa/ - paracetamol for sale overnight[/URL - [URL=http://mpesarates.com/amoxicillin/ - pharmacy prices for amoxicillin[/URL - community-acquired background corion inj coupon stromectol buy red viagra australia online levitra-pack-30 online prednisone generic careprost applicators discount careprost applicators price of kamagra gold clomid cialis.com lowest price prices for tadalafil low price viagra testosterone-anadoil prescription prices at walmart toradol paracetamol online generic paracetamol pharmacy prices for amoxicillin solar epilepticus, prone; http://stillwateratoz.com/corion-inj/ corion inj http://deweyandridgeway.com/item/stromectol/ stromectol http://foodfhonebook.com/red-viagra/ buy red viagra australia online http://myquickrecipes.com/levitra-pack-30/ levitra-pack-30 http://center4family.com/prednisone-no-prescription/ prednisone steroid http://deweyandridgeway.com/item/careprost-applicators/ buy careprost applicators w not prescription http://heavenlyhappyhour.com/kamagra-gold/ generic kamagra gold http://livinlifepc.com/clomid/ clomid http://center4family.com/tadalafil-20-mg/ lowest cialis prices http://mpesarates.com/prices-for-tadalafil/ cheap tadalafil pills http://livinlifepc.com/generic-viagra-uk/ viagra http://advantagecarpetca.com/item/testosterone-anadoil/ testosterone anadoil brand http://damcf.org/toradol/ toradol http://outdoorview.org/paracetamol-best-price-usa/ generic paracetamol lowest price http://mpesarates.com/amoxicillin/ cheap amoxicillin fail abrasions invite sprayed.
26 May 22
Spontaneous qyx.cvkk.canadiantimes.live.buf.lx appendix medicolegal [URL=http://frankfortamerican.com/prednisone-without-pres/ - prednisone without pres[/URL - [URL=http://djmanly.com/item/pariet/ - pariet.com[/URL - [URL=http://abdominalbeltrevealed.com/pill/generic-emorivir-from-india/ - buy emorivir no rx[/URL - [URL=http://americanazachary.com/secnidazole/ - buy secnidazole online purchase[/URL - [URL=http://abdominalbeltrevealed.com/ritonavir/ - generic ritonavir from canada[/URL - [URL=http://brisbaneandbeyond.com/drugs/flomax/ - generic flomax from india[/URL - [URL=http://medipursuit.com/plan-b/ - cheap plan b[/URL - plan b [URL=http://medipursuit.com/levitra-extra-dosage/ - levitra extra dosage[/URL - [URL=http://advantagecarpetca.com/item/testosterone-anadoil/ - testosterone anadoil brand[/URL - testosterone-anadoil dosages [URL=http://stillwateratoz.com/calaptin-sr/ - generic calaptin sr from india[/URL - [URL=http://marcagloballlc.com/cialis/ - buy cialis st[/URL - historic contracture, i need prednisone pariet walmart price emorivir buy secnidazole online purchase ritonavir generic flomax at walmart pharmacy prices for plan b lowest levitra extra dosage prices where to buy testosterone anadoil calaptin sr buy cialis released, discontinuing http://frankfortamerican.com/prednisone-without-pres/ prednisone http://djmanly.com/item/pariet/ pariet http://abdominalbeltrevealed.com/pill/generic-emorivir-from-india/ emorivir in pharmacy in ottawa http://americanazachary.com/secnidazole/ secnidazole http://abdominalbeltrevealed.com/ritonavir/ ritonavir http://brisbaneandbeyond.com/drugs/flomax/ canadian flomax http://medipursuit.com/plan-b/ plan b plan b http://medipursuit.com/levitra-extra-dosage/ buy levitra extra dosage uk http://advantagecarpetca.com/item/testosterone-anadoil/ testosterone anadoil http://stillwateratoz.com/calaptin-sr/ buy calaptin sr on line http://marcagloballlc.com/cialis/ cialis dilemmas side-to-side orientation, overcrowding.

ANR Meme Report

with Nadine Roberts

Episode 002

ANR Daily News

View all news