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HSBC Enters the Metaverse Through Partnership With The Sandbox

The bank wants to engage with sports, e-sports, and gaming fans on the metaverse.

HSBC, with almost $3 trillion in assets, is the first global bank to enter The Sandbox metaverse, said the blockchain gaming firm in a statement on Wednesday.

  • The bank will buy a plot of land at The Sandbox metaverse, which it will develop to engage with sports, e-sports and gaming fans, the statement said.
  • Details of HSBC’s development in the virtual plot of land weren’t announced. A promotional GIF that was posted along with the statement showed an HSBC stadium next to a virtual body of water.
  • HSBC sees “great potential” in creating “new experiences through emerging platforms,” said Suresh Balaji, chief marketing officer at HSBC Asia-Pacific, in the statement. The partnership with The Sandbox will enable the bank to “create innovative brand experiences for new and existing customers,” he added.
  • GucciWarner Music GroupThe Walking DeadSnoop Dogg, and Adidas are among global brands that are working with The Sandbox.
  • In February, JPMorgan said it was the first bank to enter the metaverse when it bought a plot of land in Decentraland to build a lounge for customers.

This article was originally published on Coindesk by Eliza Gkritsi

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