JP Morgan becomes the first bank to open in the Metaverse! You can shop with crypto and NFTs!

You can now do your banking in the metaverse, according to JP Morgan, which became the first big bank to create a lounge in the blockchain-based virtual world of Decentraland on Tuesday.

Non-fungible tokens, or NFTs, may be used to purchase virtual plots of land in the virtual lounge, as well as other cryptocurrency transactions.
You are greeted by a tiger and an avatar of JP Morgan CEO Jamie Dimon before entering the lounge.

The bank introduced its virtual environment, dubbed the Onyx Lounge, along with a study outlining the sorts of commercial prospects available in the metaverse.

”The metaverse will likely infiltrate every sector in some way in the coming years, with the market opportunity estimated at over $1 trillion (€880 billion) in yearly revenues,” the report said.

The JP Morgan report also noted that between June and December last year, the average price of virtual land doubled from $6,000 (€5,000) to $12,000 (€10,000). It also predicted that in-game advertising spending will reach $18.4 billion (€16 billion) per year by 2027.

Read more here.

JPEG Morgan!

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lol, A few months ago the CEO said that bitcoin was useless, I guess he knows what time is it…

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Without a doubt, crypto adoption is growing at a massive rate!!

yeah… this is called “eating his own words”… lol!