HSBC International Bank enters the metaverse with the sandbox

International banking and finance company HSBC has announced a partnership with Sandbox to enter the metaverse. According to Sandbox, HSBC will launch a “Sports Zone” on its virtual domain to connect with gaming enthusiasts and Esports fans. Details of HSBC’s plan with their newly acquired land have yet to be revealed, other than a rolling gif released with the official announcement.

HSBC movements and metaverses

Last month, JPMorgan purchased property from Decentraland to get into blockchain. HSBC’s recent partnership with Sandbox is beginning to form a pattern of financial giants entering the Web3 ecosystem. Recognized as a viable opportunity for a thriving business, NFTs and virtual property are receiving attention from all angles. Brands like Ubisoft and icons like Snoop Dogg have already begun their rise in the metaverse. With nearly $3 trillion in assets, HSBC becomes the first global financial service to enter the Sandbox metaverse.

The HongKong & Shanghai Banking Corporation (HSBC) is one of the largest international banking industries in the world. HSBC has built a solid reputation with offices in over 65 countries such as Asia, North Africa and the Middle East. As the company begins to grow in the metaverse, Web3 enthusiasts eagerly await HSBC’s future plans. Currently, HSBC’s stock is up 2% and Sandbox’s native SAND token is up 10%.

“We are delighted to see trusted institutions such as HSBC joining The Sandbox metaverse and embracing the Web3 culture. We believe this is the start of wider adoption of Web3 and the metaverse by institutions that are driving brand experiences and engagement within this new ecosystem,” -Sebastien Borget, COO and co-founder of The Sandbox