Banking In The Metaverse? It’s Coming Sooner Than You Think

Banking In The Metaverse? It’s Coming Sooner Than You Think

Ellen Britt for CNT #NFT

Recently we reported on investment banking giant JP Morgan Chase, which has opened a lounge in the Decentraland metaverse, signaling an oncoming sea change in the banking industry. 

First Mover’s Advantage

The company was the first banking institution to make this move, but others are sure to follow now that JP Morgan has blazed a trail. You can’t open up a checking or savings account just yet, but you can buy virtual real estate with NFTs and also make other purchases with cryptocurrency.

Step Into The Lounge

Their virtual space is known as the Onyx Lounge. The Lounge, in addition to a spiral staircase and a tiger (yes, a tiger!) also contains a report detailing the various types of metaverse opportunities JP Morgan Chase sees possible for businesses.  

The Big Takeaway

But here’s the report’s big takeaway: 

”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.”

Eyes Open!

Are we early? Yes, but that is the best place to be if you have the foresight and the knowledge to take advantage of the moment. This is why we are keeping you updated here at City News & Talk with articles like this one. And you’ll also want to keep a close eye on Mint City Places, as with its upcoming launch, there will be plenty of opportunities to jump in this game! 

In Other NEWS

By Ellen Britt

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