April 08, 2022
Finovate 2022
On March 22 - 23, Fyndoo was physical present at Finovate Europa 2022 in London. We have been exploring the future of banking in the metaverse with an on stage demo.
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The metaverse reshapes the internet. Big tech is placing big bets on this future. Some analysts predict the metaverse to be an $8 trillion opportunity.
The metaverse leverages virtual reality, augmented reality, blockchain technology, and social media concepts to formulate a space for consistent user interaction that replicates the real world. Or, how we like to call it: ‘Mark Zuckerberg’s Matrix’
Some early signs
We see some early signs of a society and economy in the metaverse. Land sales picks up steam quickly. The Foo Fighters had a great show and after party. Burberry offers really nice virtual accessories. For banks, this represents a multitude of opportunities. Whether it is investments and savings, payments, loans and mortgages - there are plenty of possibilities. In an earlier article, we gave our take on using NFTs as collateral for real-world loans.
However, we advise not to jump in just yet. It is better to build capabilities by exploration.
But where to start? How to approach it? Our approach is to dive right in: there’s no better way to explore than to experience!
This checklist is the not-so-complete checklist for banks eager to explore the metaverse. This list has 3 segments: the lay of the land, technology, and discussion topics. Use this list as an inspiration and a starting point for your own journey - not as a limited itinerary. Have fun on your trip through the metaverse!
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March 03, 2022
Our take on using NFTs as collateral
My colleague - Jamie - asked me the question: “Can you lend me 10K? I’m good for it because I’ve got a bored ape which is at least 50K worth”. If the last part bewilders you, you’re not alone.
February 23, 2022
Our take on how banks interact with clients in the metaverse.
As the metaverse begins to unfold, we explore the potential of this virtual reality for interacting with clients. The opportunity for a bank to open a branch in the metaverse is, or will be, a compelling proposition. This article explores some of the experiences we had while exploring the metaverse.