Metaverse Banking: What Does It Mean?

Apart from our preferential perceptions and twinges of existential crisis, the mind-blowing concept of Metaverse has been expanding in recent years and bringing tons of question marks with it. Stepping into an Extended Reality (XR) comes with pros and cons. The biggest question comes with the definition of reality. Where does the thin red line start, and how can we ensure that we will not lose our link with the actual world? You may think we are exaggerating. Yet, Facebook and Instagram started just like this. Do you remember? Today, none of us can think of a full day away from social media. Call it the System, addiction or weakness, but it is obvious we have adapted our lives pretty deeply to be online in a decade. Considering the process and the result of the internet penetration into our lives, it would be assertive to ignore the great potential of Metaverse and the advantageous world it brings with it. 

The Sky’s the Limit!

There are no borders in a platform where everything is possible, neither for relationships nor for avatars. You need to take care of your character, new you, in this tremendous virtual land. Since Samsung, Louis Vuitton, Walmart, Coca Cola, Balenciaga, Gucci, Nike, and many brands have entered into the Metaverse, you will have a myriad of alternatives to dress yourself. What about the other pillars of socialisations? Concerts, movies, bowling or dinners? All these are already formed in multiple leading metaverses, yet they may cost you more than you think. We come to the subject of centuries; a monetary system to build a society on! Anyone can foresee Metaverse will require payment methods to take all possible services. Not only to purchase a night-gown from Gucci but also to pay for your rent in your augmented apartment, memberships, event tickets, and to buy NFTs. The necessity of a solid scheme of banking in the Metaverse is obvious. But how? 

Metaverse Banking

Although multiple Metaverses accept different currencies, all these currencies have one common share; they are all crypto coins. But this statement can change anytime. Because the banks and credit unions have monitored the field for quite a long time and it is a matter of time to penetrate inside to join the “game”. As the first bank to settle in Metaverse, JPMorgan took the title and made headlines, whereas other international banks have underlined their future projects to join this virtual universe. Naturally, questions are coming to the surface about what Metaverse banking means for the banking industry overall. It is not about money flow but also taxations, regulation and international affairs. Since banking and the Metaverse will be linked for quite a long time, the discussion will be a popular subject in the upcoming days for sure. 

Jeton is eager to step in!

Our state-of-art digital wallet, Jeton Wallet, continues to follow the latest trends and what is new! To provide the best service to our users, our inner team analyses the field for you and shapes Jeton features according to where the opportunities lie, how to tap them and how to do it right.  Join Jeton Community today to keep abreast of current Metaverse opportunities and initiatives. We are stronger together! 
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