February 17, 2022: JP Morgan, the largest bank in the United States, has opened its first virtual branch in the Metaverse.
The Metaverse seems to be the newest craze in the tech world right now. Dubbed by many as the future of the internet as we know it today, the Metaverse is a 3D virtual world where people can interact (maybe even physically) using sensors, lenses, microphones and various other gadgets.
The metaverse has already hosted concerts from acclaimed musical artists. Justin Beiber, Ariana Grande, Marshmallow, and Travis Scott are some of the few who have already hosted their show in the virtual space. Concerts weren't a big deal, as artists having performed in games like Fortnite pretty much paved the way for the Metaverse to have a go at it. Something that did break the internet, was a wedding! A fully virtual one! Earlier this month, a couple from Tamil Nadu in India broke the headlines to host the first-ever wedding in the metaverse.
Entertainment isn't the only thing the metaverse is capable of. JP Morgan Chase & Co, the largest bank in the United States has become the first bank in the world to open in the metaverse. The Onyx lounge has been launched on Decentraland, which is a platform in the metaverse. JP Morgan named it after the bank’s blockchain business that it started in 2020.
People can visit the lounge virtually whenever they want. They will also have the ability to choose how their avatar looks, with options ranging from skin colour, gender, hairstyle, clothing, and accessories. Upon entering the lounge, visitors will be greeted by a virtual tiger and a digital portrait of Jamie Dimon, the CEO of JP Morgan.
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