A groundbreaking partnership has emerged today where one of the leading banks HSBC has partnered with ‘The Sandbox’. The Sandbox is considered the largest space for NFT gaming experience in the metaverse. In the latest blog post, HSBC confirmed about acquiring a virtual land plot at ‘The Sandbox’.
According to Suresh Balaji, Chief marketing officer at HSBC states, the bank recognizes the ‘great potential’ in manufacturing ‘new experiences through emerging platforms’. Also, the association will boost other global institutions to innovate more in blockchain technology for a robust decentralized gamified experience.
The beginning of broader adoption of web3 and the metaverse by institutions driving brand experiences and engagement within this new ecosystem.Sebastien Borget, The Sandbox
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Further, the land plot will be developed to absorb more communities and connect visitors with sports, esports, and gaming enthusiasts. A bigger and better brand experience along with more creative innovation in the business model is anticipated by the bank. Moreover, HSBC has joined other global brands on The Sandbox such as Gucci, Warner Music, Ubisoft, Cryptokitties, The Walking Dead, and many more.
While The Sandbox is expanding its network in the cryptocurrency space with many partnerships in the past months. Besides it is interesting to note its latest association with the leading South Korean Entertainment company K-Pop agency called ‘Cube’.
The British multinational giant HSBC has $3 trillion worth of assets and holds the first position as a global bank to enter the metaverse space. The Hong Kong and Shanghai Banking Corporation Limited is the leading member of HSBC Bank. It is operational in 64 countries within regions like Europe, Latin America, North America, Asia, and Middle Eastern regions.
Last month, The United States’ largest bank JPMorgan launched its first lounge name ‘Onyx’ in the Decentraland metaverse. JP Morgan aims to attract a $1 trillion market towards it through its virtual commercial infrastructure.