Image courtesy of Payment Expert
Arkose Labs CEO Kevin Gosschalk argues in a Payment Expert Q&A that banks cannot afford to ignore the metaverse, where the average cost of virtual real estate surged 1,200% in under a year and the market opportunity is estimated in the mid-trillions of dollars. He describes the metaverse as the convergence of digital and physical life — a space already pioneered by gaming but expanding rapidly into financial services — and says early movers like JP Morgan and HSBC have a rare chance to reimagine banking from the ground up. Gosschalk also warns that fraud prevention must be baked in from the start, as the same attack patterns that plague gaming platforms will migrate to virtual banking environments.
