J.P. Morgan was known for reorganizing businesses to make them more profitable and stable and gaining control of them.

JPMorgan Chase & Co. is an American multinational investment bank and financial services holding company headquartered in New York City. JPMorgan Chase is incorporated in Delaware.

JPMorgan being the largest bank in the US is the first lender in the metaverse.

Consensus 2022 points to Christine Moy, JPMorgan’s head of crypto and the metaverse to have stated, “There is a lot of client interest to learn more about the metaverse,” further stated, “We 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 technology, commercial infrastructure, privacy/identity and workforce, in order to maximize the full potential of our lives in the metaverse.”

JPMorgan started off with their assessment of “metanomics” by pointing out that the average price of a parcel of virtual land doubled in the latter half of 2021.  Further the price has jumped from $6,000 in June to $12,000 by December, 2021 across the four main Web 3 metaverse sites: Decentraland, The Sandbox, Somnium Space and Cryptovoxels.

Metanomics on how businesses can explore the metaverse and navigate the Hyper Vs. Reality.

JP Morgan in their opportunities in the metaverse published, “As a result, we see companies of all shapes and sizes entering the metaverse in different ways, including household names like Walmart, Nike, Gap, Verizon, Hulu, PWC, Adidas, Atari and others.  Business leaders and boardrooms around
the world are now asking themselves, “What is my metaverse strategy? What am
I supposed to be doing in the metaverse? What is the metaverse anyway?”

Further stated, “There is no one virtual world but many worlds, which are taking shape to enable people to deepen and extend social interactions digitally.

Twitter handle Metanomics expressed:  Top 5 Misconceptions about the Metaverse: 1) New – (it’s not SecondLife started in 2003; – 2) Will replace RL; – 3) Limited to gaming; – 4) A fad; – 5) One-size-fits-all.

Decentraland is a 3D virtual world browser-based platform. Users buy virtual plots of land in the platform as NFTs via the MANA cryptocurrency, which is hosted on the Ethereum blockchain.

A LAND is a digital piece of real-estate in The Sandbox’s metaverse. Game designers use LAND to build digital experiences, such as games or dioramas, and also populate it with ASSETs. Each LAND is a unique, non-fungible ERC-721 token on the Ethereum blockchain.

Somnium Space is a Virtual Reality world on the Ethereum blockchain (or metaverse), where players can buy land, build or import NFTs, explore, and trade.

Cryptovoxels is a virtual world and metaverse, powered by the Ethereum blockchain. Players can buy land and build stores and art galleries.

Big names making it to the Metaverse.  More to Come.