HSBC is the latest to join the metaverse frenzy by teaming up with The Sandbox, a decentralized gaming virtual platform, and a subsidiary of Animoca Brands.
Photo credit: HSBC / The Sandbox
The global bank, which has assets worth nearly US$3 trillion, will also acquire a virtual plot on The Sandbox. HSBC said its metaverse foray is aimed at engaging and connecting with sports, esports, and gaming enthusiasts.
Full details of HSBC’s virtual plot on The Sandbox are not known yet. The bank, however, confirms it’s a 3X3 LAND, a digital piece of real estate on the metaverse. A GIF also reveals that the estate features an HSBC stadium located next to a large water body.
The partnership with The Sandbox will allow the global bank to create “innovative brand experiences” for new and existing customers, said Suresh Balaji, chief marketing officer at HSBC Asia-Pacific, in a statement.
“We believe this is the beginning of a 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, added.
HSBC is now part of a growing list of mainstream brands with a sizable global presence to join the metaverse.
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Last December, PwC Hong Kong purchased a virtual plot on the blockchain gaming platform. Earlier, Adrian Cheng, a Hong Kong property tycoon, invested an undisclosed sum in The Sandbox. He also bought what is said to be one of the largest plots on the platform.
Other prominent brands on The Sandbox include Adidas, Atari, Care Bears, and The Smurfs.
Editing by Samreen Ahmad and Arpit Nayak
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