You know how to bank, of course. But do you know how to bank in the metaverse?
If the answer is no, you’re not alone. The whole concept of the metaverse is still being invented, with components of this digital universe evolving constantly. But like every other place where people gather, trade is part of the metaverse… so banking will also be part of it. It might look just a little different than it does in “meatspace.” (that’s the tongue-in-cheek way metaverse aficionados refer to physical reality.)
What’s the metaverse, again?
The metaverse is a new frontier that promises to be a fully rendered alternative reality in digital space. It’s a 3D world you can access using a VR headset, and where you’ll be represented by an avatar.
Within the metaverse, you can participate in a wide range of day-to-day activities, from attending a concert to buying real estate. Banking will play an important role in the metaverse. (After all, neither concert tickets nor penthouse suites are free!)
How do I get to Quontic’s metaverse outpost—and what do I need before going?
To navigate to Quontic’s metaverse headquarters in Decentraland, just click here. As it stands, all you need to play is an up-to-date PC or Mac running Chrome or Firefox, though for best results, a VR headset will help.
Additionally, it’s a really good idea to create a digital wallet before adventuring in the metaverse. Although you can play as a guest, saving your progress and data locally, your experience will be limited. A digital wallet allows you to have a more permanent presence in the metaverse.
Additionally, a digital wallet is a great way to store cryptocurrencies, NFTs, POAPs, and other digital assets that are critical components of the metaverse economy. The good news? It’s easy to create one—you don’t need to offer as much identification verification as you would with a traditional bank account. You can just download the platform (usually an app), create an account, and voila: you’re good to go.
What can I do once I get there?
Now for the fun part: what can you do with Quontic in the metaverse once you arrive?
For starters, check out our super-cool virtual outpost! We’re proud of its ambiance. And it’s so much more than a virtual storefront. As the metaverse expands, Quontic plans to hold fun events where guests can receive exclusive wearables and NFTs that offer special incentives. aAnd, of course, you can always learn more about our suite of banking and lending products and services.
Quontic has long held innovation as one of its most important missions. That’s why we transformed our business from a brick-and-mortar bank to a digital-first model. It’s alsowhy we’re one of only 3% of U.S. banks with a CDFI certification. As the world continues to evolve, we will, too—and the metaverse is definitely an evolution worth getting excited about.
Whether you’re already an account-holder or just checking us out, we at Quontic would love to have you on board in both real and virtual space. Please feel free to contact one of our customer service representatives if you have any questions, and be sure to check out our range of checking accounts, savings accounts, and mortgage loans. We even have a Bitcoin rewards checking account1—the first one in banking history—to help you get a leg up on building your crypto stash. After all, it looks like sometime soon, it’s all gonna be about the blockchain!
1Bitcoin Reward Checking account is a non-interest bearing personal checking account, requires a minimum of $500.00 to open the account, and does not require a minimum daily balance to earn Bitcoin rewards. Qualifying Point of Sale (POS) Debit Card Transactions (“Eligible Debit Card Transactions”) shall receive Bitcoin Rewards at the U.S. dollar value of 1.50% on all Qualifying POS Debit Card Transactions that post and settle to the Bitcoin Rewards Checking Account. Fees and terms are subject to change. Additional terms and conditions may apply. No Bitcoin Rewards will be paid if the Qualifying POS Debit Card Transaction requirements are not met or if the requirements for establishing an account with NYDIG Execution LLC (“NYDIG Account”) are not met. The following are not Qualifying POS Debit Card Transactions and do not count toward earning Bitcoin Rewards: ATM-processed transactions; transfers between accounts; purchases made with debit cards not issued by the Bank; cash over portions of POS transactions; Peer-to-Peer (P2P) payments (such as Apple Pay Cash); loan payments or account funding made with your debit card and purchases made using third-party payment accounts (services such as Venmo®️ and PayPal™️, who also provide P2P payments). Transactions may take one or more business days from the date the transaction was made to post and settle to an account. Bitcoin earned through this program can only be sold and redeemed for cash and cannot be transferred or spent, including in the metaverse.. Bitcoin execution and custody services in connection with the Bitcoin Rewards Checking account are provided by NYDIG Execution LLC (“NYDIG”). NYDIG is authorized by the New York State Department of Financial Services to engage in virtual currency business activity. To receive bitcoin services an account will be opened with NYDIG in which your bitcoin will be held (the “NYDIG Account”). Please refer to NYDIG’s User Agreement for more information, including applicable eligibility criteria. Bitcoin balances in your NYDIG Account are not insured by the Federal Deposit Insurance Corporation (FDIC), the Securities Investor Protection Corporation (SIPC), or any other public or private insurer. NYDIG does not make any recommendations regarding buying or selling bitcoin. There are risks associated with bitcoin trading, including possible loss of value. See NYDIG’s User Agreement. Individual transactions in the rewards program are not recorded on the blockchain. Information is published as of August 8, 2022.