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The metaverse sector has been growing at a very high rate and so far, many sectors from around the world have found it to be their point of interest. Among all the sectors there is the banking and financing sector that has recognized the importance of being part of the metaverse technology.
Ido Fishman has brought you the latest update from the metaverse sector involving one of the major investment and lending firms in the entire world. The particular firm is JPMorgan which is aiming to be the first traditional investment firm that sets food into the metaverse sector.
As the name suggests, the metaverse technology has the capability of offering infinite virtual worlds, where people have been living virtually. So far, many gaming and other companies have developed games and virtual worlds for people to interact with each other on a virtual basis.
Out of all the platforms introduced in the metaverse, a major platform is known as “Decentraland”. Decentraland has been launched with aim of offering virtual lands, avatars, and many more experiences to people.
Decentraland has actually become a center of attention for people who are into virtual estates. It is known mainly for the development and selling of virtual lands and estates. The sector gained prominence in the year 2021 and so far, several hundred million worths of virtual lands/estates have been sold within Decentraland.
Therefore, JPMorgan has found it to be one of the best platforms where it can expand its business.
It is being speculated that JPMorgan is aiming to provide banking services in Decentraland. It aims to cover all aspects of banking in the metaverse such as lending, leasing, financing, account opening, savings, and even fraud prevention.
The executives at JPMorgan have been closely monitoring the metaverse industry and they want to benefit from it as much as they can. So far, JPMorgan has already opened its lounge in Decentraland where the users can visit JPMorgan and see what they have to offer.
They have revealed that their lounge’s name is Onyx Lounge and it is the first of many lounges they will be opening up for the benefit of Decentraland users.
Keep visiting if you want more information and the latest news around metaverse from Ido Fishman.
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