Question:Which American bank has become the world’s first bank to set up shop in the Metaverse?
(a) Bank of America
(b) JPMorgan
(c) Great Western Bank
(d) U.S. Bancorp
Answer: (b)
Related Facts:
- JPMorgan has become the world’s first bank to set up shop in the metaverse.
- The largest bank in the US has opened a lounge in the blockchain-based world Decentraland.
- Users can create their virtual avatars, build virtual spaces and roam in the lounge christened ‘Onyx Lounge’ after its suit of Ethereum-based services.
- The lounge also features a digital image of the bank’s CEO Jamie Dimon.
- Metaverse is a virtual universe where users can do multiple activities like socialising, shopping or even attending events through their avatar.
- Augmented Reality (AR) and Virtual Reality (VR) headsets are becoming more pocket-friendly, and both technologies have together contributed to a significantly enhanced user experience.
- The onset of blockchain technologies and associated cryptocurrencies have also unlocked new avenues for creators to monetise their designs.
- From a social perspective, the development of more immersive virtual experiences is helping people to build communities based on shared values, and to express themselves in more authentic ways.
BY: AMIT GUPTA