Swiss cryptocurrency bank Sygnum is gearing up to unveil an innovative metaverse hub within Decentraland, the virtual browser-based platform.
The virtual Time Square of the Metaverse, hosted on Decentraland, will be the hub’s location. Samsung, Adidas, and Dolce & Gabbana are all represented on Decentraland, one of the biggest metaverse platforms in the cryptocurrency industry.
In an effort to establish a claim in the $5 trillion metaverse economy, Sygnum decided to create the hub.
“Our new metaverse hub is the natural place to showcase Sygnum’s Web3 innovations,” said Martin Burgherr, Sygnum’s Chief Clients Officer, in a statement.
It is a blockchain-based, interactive 3D environment where users may play games, connect, work, make money, shop, and learn new skills.
Users that enter will access Sygnum’s Crypto Garden, where they may read more about Sygnum’s predictions for the future of finance and blockchain.
The bank claims that customers may also explore an SYGN lounge, where a CryptoPunk receptionist will welcome new visitors and an interactive NFT exhibition with artwork gathered by Sygnum.
Since its founding in 2017, Sygnum has been involved in several initiatives in the crypto-native Web3 community, including the tokenization of the prestigious NFT Cryptopunk #6808 and being the first bank to provide Ethereum 2.0 (The Merge) staking.
Daily sales of NFTs have decreased along with the monetary amount of the sales made, which is why Sygnum decided to enter the metaverse and NFT arenas. Non-Fungible.com’s Q2 2022 industry report claims that “geopolitical worries” impact the market and that “interest has fallen” in NFTs.
Most NFT and metaverse projects are currently hosted within the Ethereum ecosystem. However, as investors prepare for the Merge, money flows more into Ethereum’s token (ETH). This money is being taken out of the metaverse and NFTs.
Nevertheless, Sygnum’s metaverse hub is ready for launch on 27 September.
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