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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 (HSBC), with almost $3 trillion in assets, is the first global bank to enter The Sandbox metaverse, the blockchain gaming firm said 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.
- Gucci, Warner Music Group (WMG), The Walking Dead, Snoop Dogg and Adidas are among global brands that are working with The Sandbox.
- In February, JPMorgan (JPM) 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.
STORY CONTINUES BELOW
Read more: JPMorgan Is the First Bank Into the Metaverse, Looks at Business Opportunities
Eliza Gkritsi
Eliza Gkritsi is a CoinDesk contributor focused on the intersection of crypto and AI, having previously covered mining for two years. She previously worked at TechNode in Shanghai and has graduated from the London School of Economics, Fudan University, and the University of York. She owns 25 WLD. She tweets as @egreechee.
