HSBC invests in The Sandbox metaverse with virtual land deal - Main 1

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HSBC will create “innovative brand experiences for new and existing customers”, focusing initially on sports, through a new partnership with The Sandbox, a blockchain-based gaming platform now being branded as a ‘metaverse’

Quick read

➨ HSBC, one of the world’s largest financial services organisations, has acquired a plot of virtual land in The Sandbox’s metaverse
➨ The acquisition is the first step in a partnership designed to connect the bank with sports, esports and gaming enthusiasts
➨ “The Metaverse is how people will experience Web3 … using immersive technologies like augmented reality, virtual reality and extended reality,” explained Suresh Balaji of HSBC
➨ The Sandbox claims it has more than 200 such partnerships already in place

The story

HSBC, one of the world’s largest financial services organisations, has acquired a plot of virtual land in The Sandbox’s metaverse.

The acquisition of a plot of LAND, as The Sandbox calls its virtual real estate within its blockchain-based gaming platform now being branded as a ‘metaverse’, is the first step in a partnership designed to connect the bank with sports, esports and gaming enthusiasts.

The image shared with the announcement shows an HSBC-branded sports stadium built in the style of the blockchain gaming platform, next to a body of water, a golf course and a welcome centre.

“The Metaverse is how people will experience Web3 … using immersive technologies like augmented reality, virtual reality and extended reality,” explained Suresh Balaji, chief marketing officer for the Asia Pacific at HSBC.

“At HSBC, we see great potential to create new experiences through emerging platforms, opening up a world of opportunity for our current and future customers and for the communities we serve.”

HSBC will create “innovative brand experiences for new and existing customers” through the partnership with The Sandbox, focusing initially on sports.

Balaji added: “We’re excited to be working with our sports partners, brand ambassadors, and Animoca Brands to co-create experiences that are educational, inclusive and accessible.”

HSBC joins an impressive list of brands already partnering with The Sandbox, including Gucci, Warner Music Group, Ubisoft, Adidas, and Atari. The Sandbox claims it has more than 200 such partnerships already in place.

Sebastien Borget, chief operating officer and co-founder of The Sandbox, said: “We’re pleased to see large, trusted institutions such as HSBC join The Sandbox open metaverse and embrace the culture of Web3, connecting with users through entertainment, gaming and user-generated content.”

“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.”

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Image: The Sandbox

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