HSBC enters The Sandbox – becoming the first financial institution to enter the Metaverse
While not as glamorous as seed funding rounds for projects of millions or even hundreds of millions, it’s safe to say that a special moment in NFT history was when Visa released a white paper on their effectiveness for the entertainment industry last year. Today, the world’s leading financial and banking service, HSBC, has become the latest to enter the world of blockchain.
Most notably, he also became the first to jump into the Metaverse; partnership with subsidiary Animoca Brands – The Sandbox.
The partnership itself, while serving as a resounding endorsement of institutional finance, also opens the door to a host of partnerships with global institutions. This metaverse trend is even more likely if HSBC comments are to be believed.
At HSBC, we see great potential for creating new experiences through emerging platforms, opening up a world of opportunity for our current and future customers and for the communities we serve. Through our partnership with The Sandbox, we are making our foray into the metaverse, enabling us to create innovative brand experiences for new and existing customers.
Suresh Balaji, Marketing Director, Asia-Pacific, HSBC
Similar to The Sandbox’s other partnerships, HSBC will acquire its own virtual land within the ever-diversifying metaverse.
In a press release, Sandbox co-founder and COO Sébastien Borget added the following:
“We’re thrilled to see big, trusted institutions like HSBC joining The Sandbox open metaverse and embracing the Web3 culture, connecting with users through entertainment, games and user-generated content. We believe it’s the start of wider adoption of Web3 and the metaverse by institutions that drive brand experiences and engagement within this new ecosystem.
Be sure to check out The Sandbox by visiting the website here.