JPMorgan Is The First Major Bank To Join The Metaversehttps://www.finance-monthly.com/2022/03/jpmorgan-is-the-first-major-bank-to-join-the-metaverse-heres-why/JP Morgan has opened a lounge in the blockchain-based Decentraland. The US bank believes its Metaverse branch will enable customers to create virtual avatars, establish virtual rooms, and travel in the ‘Onyx Lounge’—named after its suite of Ethereum-based services.
The Wall Street behemoth plans to take advantage of prospective growth opportunities in the metaverse through its virtual presence. With the entire world at a critical crossroad, it believes that there isn’t a single company or celebrity that is not considering or building an identity on the Metaverse. JP Morgan’s report said,
“The metaverse will likely infiltrate every sector in some way in the coming years, with the market opportunity estimated at over $1 trillion in yearly revenue. As a result, we see companies of all shapes and sizes entering the metaverse in different ways, including household names like Walmart, Nike, Gap, Verizon, Hulu, PWC, Adidas, Atari, and others.”