JPMorgan becomes the first bank to enter the Metaverse

On February 16, JPMorgan said it had become the first bank to enter the metaverse, opening a lounge in Decentraland. In addition to unveiling the Onyx Lounge (the name refers to the bank's suite of ethereum-based licensing services), JPMorgan released a paper exploring how businesses can find opportunities in the metaverse. JPMorgan’s head of crypto and metaverse Kristin Moy said in an email: “There are a lot of clients interested in learning more about the metaverse. We’ve put together our white paper to help clients cut through the noise. And highlight what the current reality is and what needs to be built next in terms of technology, business infrastructure, privacy/identity and workforce to maximize the full potential of our lives in the virtual world."