HSBC, one of the largest banks in Europe, announced its intention to purchase LAND inside of The Sandbox for an undisclosed sum. In a statement, The Sandbox said that its new partnership will offer users the chance to connect with sports fans, esports enthusiasts, and gamers.
As consumers adopt Web3, it becomes increasingly imperative to offer robust, decentralized, and gamified offerings to satisfy their demands in the metaverse.
Gamified financial literacy is expected to be the banking giant’s focus and Create educational, inclusive, and accessible experiences in partnership with our sports partners, brand ambassadors, and Animoca Brands, Suresh Balaji, HSBC’s chief marketing officer for Asia-Pacific, has said.
As many banks are closing physical branch locations to focus on digital banking, accelerated by the pandemic, this partnership comes at the perfect time. In order to connect with a “generation accustomed to engaging with brands and experiences across digital platforms,” and to be front and center among interactive brands and service providers, financial institutions shouldn’t be left behind.
The parent of The Sandbox, Animoca Brands, announced that HSBC will join over 200 existing partnerships in the metaverse. Warner Music Group, Adidas, and Ubisoft are among the other major brands associated with The Sandbox.
Although HSBC has entered the metaverse, it is not the first. J.P. Morgan opened its first virtual lounge in the Decentraland metaverse last month, becoming the first major bank in the metaverse.
The Metaverse is a virtual world with interactive and immersive capabilities, many of them built on blockchain technology. Market analysts estimate that the global metaverse market will grow from $45.4bn in 2019 to $1.5tn in 2030