HSBC Enters the Metaverse Through Partnership With The Sandbox

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.

Gucci, Warner Music Group, The Walking Dead, Snoop 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.


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