JP Morgan by Thomas Hawk, licensed under CC BY-SA 2.0
JP Morgan has become the first virtual bank in the Metaverse, having opened the “Onyx Lounge’ within Decentraland, a blockchain-based virtual world. Decentraland users can purchase virtual plots of land in the form of NFTs, using the Ethereum blockchain. Similar to how it does with real-world clients, the bank is looking to establish an early foothold in the Metaverse, with plans of implementing features like account validation, transaction status, and fraud protection.
