JP Morgan Uses Ethereum Hosted Decentraland to Establish its Virtual World Shop Feb 17, 2022 Feb 17, 2022 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Ethereum NewsFebruary 17, 2022 by Kelly Cromley

JP Morgan Uses Ethereum Hosted Decentraland to Establish its Virtual World Shop

A major global financial institution, JP Morgan, is the first to establish shop in ethereum blockchain-based Decentraland metaverse. We instinctively gravitated toward what might be described as a 3D website or virtual exhibit devoted to crypto and defi.

When you arrive at the JP Morgan shop, the first image you notice is a massive tiger prowling about, almost as if to welcome you to the tiger’s cave, with the tiger presumably defending a huge web2 photo of Jamie Dimon, the bank’s CEO who has often criticized bitcoin but who is now appearing to be increasingly disregarded by the institution.

For those who have the leisure, the JP Morgan metaverse setting contains a few in-house movies that look to be intriguing, mostly crypto or defi speeches from symposiums that had to rival with other appealing buildings in the immediate neighborhood where we also strolled to the point when it started to become a little addicting.

Additionally, they provide a fantastic infographic summarizing their blockchain activities since 2015. I failed to notice a couple techniques here since it’s a very two-dimensional infographic in a three-dimensional reality. With a little more effort, one can readily see a plethora of scenarios that might be constructed with that 2d image in the metaverse.

One that is particularly intriguing is the notion of satellite crypto payments, which we had not seen earlier. You might simply arrange for a rocket to take you to the moon, while an avatar explains and tells you what to do on your simulated phone, and perhaps the avatar returns to earth while you’re still in space and so completes the payment.

That would be a lot more labor and money than just copying and pasting an infographic and some films from Youtube, hoping people would come to see a tiger prowling about, and of course JP Morgan. And it only demonstrates how cynical they are in their dismissal of 3D as anything more than 2d.

In spite of this very limited perspective, we seem to have some cool videos to watch while we sleep because we didn’t even know JP Morgan had crypto videos before. If we went looking for other videos, it might have taken us hours because there is so much to choose from.

That’s just for the record. Naturally, you may act online as well. There seems to be… basically, almost all global trade has now become digital. Some AI bot might have addressed any inquiries one would have concerning stock accounts or crypto accounts; on their 2D site, they can connect to a 3D metaverse demo. It’s even possible to have a 3D terminal with all of that information plus the ability to zoom in and out. It might, however, have an effect on the bottom line? That concludes the spaghetti-on-the-wall portion of the story.

A 2D scan in a 3D environment may not seem like much at first glance, but it’s important to consider what 3D has to offer that isn’t already there in 2D. That is a scientific query: why are people three-dimensional? Why not use 4d or 2d instead of 3d? We have no idea. Primarily, we believe it is because 3d enables exploration and consequently unpredictability, as well as innovation and even development.

In addition to making knowledge more easily assimilated and retained, it also makes it easier to move about and exert control over one’s immediate surroundings. Although a picture is worth a thousand words, it has hitherto been restricted to two dimensions, and even that was very unusual in professional paintings. With television graphics, you may experience 3D, but in a realm that you are not a member of, a fixed pre-planned environment over which you have no influence, and therefore have no authority over the cause and effect or whatever segments you view. It’s a two-dimensional representation of a three-dimensional universe. You have two options: on or off; in the metaverse, you got the entire rainbow.

As this is a whole new universe, you start with what you already know, and now we have a 2d landscape rendered in 3d, which is OK because we do have something. However, after a decade or two, you’d imagine that all the potential and capacities would have been consolidated to the stage where a new frontier becomes a new tool and the intricacies of data are squeezed into graphical images that provide you with the information you require, when you really need it, and with much less work than is now the case.

This clearly necessitates a separate business with its own experts, but none of this was possible even a few years ago. We remember the 1990s games because they occurred within our lifetime. What has been perfected in games over the last 30 years in terms of 3d representation is now at the stage where it can be an entire planet.

It’s occurred so gradually and organically that the mere concept of a 3D store seems pointless, since we’ve forgotten we couldn’t do this before, and now we can, because we now have this enormous power of willpower in the digital real-life-like reality.

That is, the metaverse exists. Although it is far from complete, in an information economy, it may be one of those huge jumps that seems little as it develops, but when we look back, it may well feel as if the 1920s are a different universe.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.