{"id":57872,"date":"2022-02-16T10:50:17","date_gmt":"2022-02-16T08:50:17","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=57872"},"modified":"2025-09-04T13:55:49","modified_gmt":"2025-09-04T10:55:49","slug":"jpmorgan-becomes-first-major-bank-to-open-a-metaverse-presence","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/jpmorgan-becomes-first-major-bank-to-open-a-metaverse-presence\/","title":{"rendered":"JPMorgan becomes first major bank to open a metaverse presence"},"content":{"rendered":"<p>The financial holding JPMorgan opened a salon in the Decentraland metaverse. The virtual location was named <a href=\"https:\/\/forklog.com\/en\/news\/jpmorgan-revives-jpm-coin-stablecoin-project\">Onyx<\/a> in honour of the financial institution&#8217;s blockchain platform.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">Chilling in JPMorgan\u2019s metaverse lounge in Decentraland<\/p>\n<p>They have a Tiger <a href=\"https:\/\/t.co\/LcTdaLm3Yg\">pic.twitter.com\/LcTdaLm3Yg<\/a><\/p>\n<p>\u2014 Frank Chaparro (@fintechfrank) <a href=\"https:\/\/twitter.com\/fintechfrank\/status\/1493633222424551434?ref_src=twsrc%5Etfw\">February 15, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The bank unveiled the lounge area in the Metajuku mall together with <a href=\"https:\/\/www.jpmorgan.com\/content\/dam\/jpm\/treasury-services\/documents\/opportunities-in-the-metaverse.pdf\">a report<\/a>, in which specialists analyzed business opportunities in this segment. The company said it had become the first major enterprise from the financial sector represented in the virtual space.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u00abMetaverses are likely to permeate every sector in the coming years in some way, and market opportunities are estimated at <a href=\"https:\/\/forklog.com\/en\/news\/grayscale-forecasts-annual-revenue-for-the-web-3-0-metaverse-sector-to-reach-1-trillion\">more than $1 trillion in annual revenue<\/a>. As a result, we are seeing companies of all shapes and sizes enter the space, including <a href=\"https:\/\/forklog.com\/en\/news\/walmart-plans-to-enter-the-metaverse\">Walmart<\/a>, Nike, Gap, Verizon, Hulu, PwC, Adidas, Atari and others\u00bb, the report says.<\/p>\n<\/blockquote>\n<p>JPMorgan noted that spending on virtual goods reached $54 billion a year. Over the six-month period in 2021, the average price of land in metaverses doubled.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u00abIt jumped from $6,000 in June to $12,000 by December in four major Web 3.0 metaverses,\u00bb the bank&#8217;s specialists said.<\/p>\n<\/blockquote>\n<p>According to their forecast, by 2027 spending on in-game advertising in the sector will reach $18.41 billion.<\/p>\n<p>The JPMorgan team believes all this will lead to the formation of a digital economy and the emergence of financial products tailored to metaverses.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u00abWe believe that the existing virtual gaming landscape has elements parallel to those operating in the global economy. Therefore our core competencies in cross-border payments, currency exchange, creation of financial assets, trading and custody can play an important role in metaverses\u00bb, \u2014 JPMorgan says.<\/p>\n<\/blockquote>\n<p>Bank of America <a href=\"https:\/\/forklog.com\/en\/news\/bank-of-america-calls-metaverses-an-enormous-opportunity-for-the-crypto-industry\">named<\/a> metaverses as a potential driver of broad adoption of cryptocurrencies as a payment instrument.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The financial holding JPMorgan opened a salon in the Decentraland metaverse. The virtual location was named Onyx in honour of the financial institution&#8217;s blockchain platform.<\/p>\n","protected":false},"author":1,"featured_media":57873,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[2133,229,1353,1361],"class_list":["post-57872","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-decentraland-mana","tag-jpmorgan","tag-metaverses","tag-virtual-world-innovations"],"aioseo_notices":[],"amp_enabled":true,"views":"14","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/57872","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=57872"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/57872\/revisions"}],"predecessor-version":[{"id":57874,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/57872\/revisions\/57874"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/57873"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=57872"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=57872"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=57872"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}