JP Morgan Joins Metaverse By Opening A Lounge & They Are The First Bank To Do So

What in the world is the metaverse? We don’t really know 100%, but JP Morgan does and they think that its a trillion dollar opportunity.

With that said, JP Morgan becomes the first bank to open up in the metaverse. The Wall Street bank has opened a lounge in the blockchain based Decentraland.

For those that don’t know what Decentraland is they are essentially a 3D virtual world where people can buy and sell digital assets including real estate. Decentraland uses its own currency called MANA. This cryptocurrency is on the ethereum blockchain and as of today is trading around the $4 Canadian mark.

According to JP Morgan the average cost of a virtual parcel of land doubled in the latter part of 2021 to a price of $12,000. The future of this looks pretty wild so it is almost certainly something you want to follow.