JPMorgan, the largest bank in America with a market value of close to $370 billion, announced that it has officially opened an office in Decentraland. JPMorgan became the first bank to step into the Metaverse.
JPMorgan's Metaverse office has been named Onyx Lounge, and according to the published whitepaper, JPMorgan customers will benefit from Ethereum-based services in a virtual environment with this initiative.
Christine Moy, head of crypto and Metaverse at JPMorgan, described the bank's latest initiative as a response to the intense interest in Metaverse, while talking about the huge potential to provide quality service to customers in the virtual world.
In its whitepaper, JPMorgan also talked about the many business opportunities made possible by Metaverse. Metaverse offers a wide variety of opportunities as a suitable environment for many events and industries, including virtual meetings, online trading, gaming and cryptocurrencies.
JPMorgan believes that many real-world businesses will soon make their way into the Metaverse. The bank, which thinks that activities such as rentals, mortgage transactions and loan use will increase in this virtual world, seems to be quite sure of the profitability of Metaverse. Because, in the technical review, it is emphasized that the prices of a plot of land in the Metaverse realm increase rapidly. On the other hand, the bank thinks that this phase is also extremely important in terms of advertising.
Apart from JPMorgan, which has the title of the world's first bank that started to serve in Metaverse, Samsung again came to the agenda by opening a virtual store on the Decentraland platform last month. In addition to these developments, it is known that many companies are preparing for Metaverse. These include McDonald's (NYSE:MCD), Chinese tech companies Tencent and Huawei. In Turkey, Turkcell (IS:TCELL) announced in its press release yesterday that it started working to open a store in Metaverse.
NYSE wants to be the marketplace for NTFs
The NYSE has filed with the US Patent and Trademark Office to become the marketplace for NFTs and cryptocurrencies. NFT will compete with OpenSea and Rarible as a marketplace.
According to the filing filed on Feb. 10, NFTs will be bought, sold and traded with NYSE-branded cryptocurrencies and marketplaces.
In its statement, the NYSE emphasized that it does not plan to start trading cryptocurrencies and NFT immediately, but they regularly evaluate new products and their impact on their trademarks, and within this framework, they have applied for registration to protect their intellectual property rights.