Earlier this week, the JPMorgan American investment bank launched its own virtual reality salon on Decentraland, becoming the first major financial institution in the metaverse. As a result, the price of MANA increased by 9.25% over 24 hours after the news was announced.
The digital office, named Onyx Lounge, does not offer any real banking services yet but invites users to watch a presentation on cryptocurrencies by Jamie Dimon, CEO of the bank. JPMorgan believes that the metaverse industry presents great business opportunities. Besides, the average price of land on the Decentraland platform increased from $6,000 to $12,000 in less than six months last year.
Samsung has partnered with Theta Labs to distribute non-fungible tokens for free to customers, starting February 9th. The CEO of Theta Labs did not reveal all details but mentioned that unique NFTs will give its owners, limited to South Korean citizens only, exclusive rights and privileges. Customers, wishing to receive an NFT, will have to pre-order a new Galaxy S22 smartphone or a Tablet S8, register on ThetaDrop, and enter a unique code generated by the app. Check out the full list of digital companies Samsung is partnering with.
Mover, a company specializing in metaverse savings cards development, posted a tweet on February 15th announcing that LEASH and BONE will be added to the platform. The service has already provided support for SHIB. Mover crypto cards can be used in thousands of online stores, supported by VISA.
The savings card is similar to a regular credit/debit card, but the savings account can hold rewards earned from play-2-earn games in the metaverse. Moreover, card users have access to 6.58% APY on savings, options of yield collection and automatic rebalancing. Founded in 2020, Mover has introduced the SHIB ecosystem into the real world. Shiba Inu payments are already available on Amazon and eBay.
Elon Musk has admitted the possibility of his company Starlink starting to accept Dogecoin as a payment option in the near future. On February 13th, Musk replied to a Twitter user wondering if SpaceX and Starlink merchandise store could potentially accept DOGE with a winking emoji. It’s no secret that the American entrepreneur has a long-standing relationship with Dogecoin.
Last February Musk even called DOGE “the people’s currency”. He has tweeted about the meme coin multiple times. In May 2021 he announced that SpaceX would launch the Doge-1 satellite in 2022. Musk has not made any official statements about the Starlink and Dogecoin integration yet.
The NFL’s biggest celebration of the year, Super Bowl, took place last Sunday at SoFi Stadium in Los Angeles, California. This year’s Super Bowl received a record-high number of crypto sponsors. For cryptocurrency companies, the Super Bowl is a great opportunity for attracting a wider audience through commercials. Some of the advertisers included Coinbase Global, FTX, eToro, and Crypto.com.
The overall cost of an ad during the Super Bowl increased by 27% compared to 2021. According to experts, this year’s Super Bowl generated one of the highest TV audience numbers (estimated at 92 million viewers).
YouTube has announced plans to implement NFT technology to monetize content created on the platform. In addition to that, Google, which owns YouTube, intends to add an option to order products directly through the video.
YouTube sees great potential in NFTs and is planning to develop its own metaverse, focusing on games first. According to the video hosting management team, new technologies such as the blockchain and NFTs, will allow content creators to develop a deeper relationship with their viewers. Moreover, content creators will be able to get a more thorough insight into the performance of their video and better understand how viewers are interacting with the content.
The largest cryptocurrency exchange platform Binance has invested $200 million in Forbes, one of the most respectable and well-known economic publications in the world with an estimated audience of 150 million people worldwide.
The owner of Binance, Changpeng Zhao, will become a co-owner of Forbes. It is worth mentioning that Changpeng Zhao posed for a Forbes cover in 2018 when the publication called him an outstanding person who made billions from scratch in six months. However, back in November 2020, the two companies were caught up in a legal dispute when Binance filed a lawsuit against Forbes after the magazine published an article on how Binance had allegedly come up with a scheme to evade regulators.
Nevertheless, by February 2021, the exchange dropped its charges, while stating that the company still believes the article published in October 2020 contains false and misleading information. Today, the conflict is long forgotten. Zhao emphasizes the importance of the media in educating users on cryptocurrency and hopes that an investment in Forbes will help the publication become a platform for investment analysis.