Giant bank HSBC enters the Metaverse by buying an NFT land in the Sandbox

HSBC has established a partnership with Sandbox to explore the metaverse. The giant bank will establish a ‘Sports Zone’ on its virtual estate to engage gamers and Esports fanatics.

Recently, JPMorgan has announced the acquisition of a plot of land in the Virtual World Decentraland with the purpose of creating a client lounge and also declared that the Metaverse is a $1 trillion opportunity.

The Sandbox has partnered with global brands such as Gucci, Warner Music Group, South China Morning Post, The Walking Dead, and Adidas.

Suresh Balaji, HSBC CMO Asia-Pacific, declared: “The metaverse is how people will experience Web3, the next generation of the internet—using immersive technologies like augmented reality, virtual reality and extended reality. At HSBC, we see great potential to create new experiences through emerging platforms, opening up a world of opportunity for our current and future customers and for the communities we serve. Through our partnership with The Sandbox we are making our foray into the metaverse, allowing us to create innovative brand experiences for new and existing customers. We’re excited to be working with our sports partners, brand ambassadors, and Animoca Brands to co-create experiences that are educational, inclusive and accessible.

We are pleased to see trusted institutions such as HSBC join The Sandbox metaverse, and embrace the culture of Web3. We believe this is the beginning of broader adoption of Web3 and the metaverse by institutions driving brand experiences and engagement within this new ecosystem.” – Sebastien Borget, COO and co-founder of The Sandbox said.