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Today JP Morgan’s Onyx blockchain division published a short report on the Metaverse and revealed it acquired a piece of virtual property in Decentraland.

Decentraland is one of four major blockchain metaverses that sell virtual land. The others are The Sandbox, Cryptovoxels, and Somnium Space. Although Decentraland  has been around the longest, The Sandbox has attracted the most sales and value nowadays. It’s also signed up big brands, including Warner Music.

JP Morgan reports that average land prices across these four metaverses jumped from $6,000 in June 2021 to $12,000 six months later.

Electronics maker Samsung launched its metaverse location, known as Samsung 837X, in Decentraland earlier this year. It was designed based on the Samsung 837 store in New York City, where all sorts of products can be experienced directly, and it offers a similarly immersive experience with NFTs, games, product introductions, and live performances. Samsung also hosted a digital version of its Unpacked event at 837X, launching the Galaxy S22 phone, on Feb. 9.

New York-based Prager Metis International LLC opened a virtual office building in Decentraland in December. The reason? Chief Executive Officer Glenn Friedman told the WSJ simply "if the metaverse is going to replace the internet, then certainly business is going to use it."

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