The largest bank in the USA, JPMorgan has become the first bank to reach the metaverse by opening an office in Decentraland (MANA), a virtual world based on Blockchain technology. With the effect of the news, the metaverse coin price cheered the market. For details, continue reading Kriptokoin.com.
JPMorgan has opened office on the popular metaverse coin project, the price has skyrocketed
In addition to announcing the Onyx office (Onyx refers to the bank’s suite of allowed Ethereum-based services), JPMorgan also explores how businesses can find opportunities on the metaverse base. published an article. Christine Moy, JPMorgan’s head of crypto and metaverse, said:
There is a lot of customer interest to learn more about the Metaverse. We’ve put together our whitepaper to meet our customers’ demand, assist them, and maximize the full potential of our workforce.
With things like Non Fungible Token (NFT) accepted as mainstream, last year the all-encompassing metaverse for immersive gaming, world-building and entertainment powered by integrated trading apps made breathtaking progress. In January, electronics giant Samsung opened a version of its New York store in Decentraland, and in November Barbados again established a metaverse embassy in Decentraland.
JPMorgan noted that the average price of a virtual parcel of land doubled in the second half of 2021, jumping from $6,000 in June to $12,000 in December on four major Web3 metaverse sites. reviews ‘metanomics’ for these metaverse coin projects: Decentraland, The Sandbox, Somnium Space, and Cryptovoxels. The JPMorgan report also predicts:
Over time, the virtual real estate market may begin to see services like the physical world, including loans, mortgages, and lease agreements. Decentralized finance (DeFi) collateral management could well come into play, and it could be done by decentralized autonomous organizations (DAO) rather than traditional finance companies.
Influenced by the news, the metaverse coin price hit $3.21, up nearly 11% in the last 24 hours, according to CoinMarketCap data.
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