Why fintechs are banking on the metaverse
Traditional financial institutions are spending substantial sums on digital ‘plots of land’ in a bid to establish a presence in the virtual world. But are the rewards worth the risks?
Imagine a world where you, in avatar form, step into a bank branch, meet a customer service assistant, arrange a mortgage and sort out a query about your current account. No queues, no issues around business hours. Then you visit a virtual mall and buy a pair of trainers with your crypto wallet.