HSBC enters The Sandbox – becoming the first financial institution to enter the Metaverse

While not as glamorous as the seed funding rounds for projects in the millions, even hundreds of millions, it’s safe to say that one special moment in the history of NFTs was when Visa released a whitepaper on their efficacy for the entertainment industry last year. Now, the globally-leading financial and banking service, HSBC, has become the latest to wade into the world of blockchain.

Most notably, it’s also become the first to jump into the Metaverse; partnering up with the Animoca Brands subsidiary – The Sandbox.

The partnership itself, while serving as a ringing endorsement from institutional finance, also opens the door wide to a slew of partnerships with global institutions. This trend towards the metaverse is made even more likely if HSBC’s comments are anything to go by.

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. Through our partnership with The Sandbox we are making our foray into the metaverse, allowing us to create innovative brand experiences for new and existing customers.

Suresh Balaji, Chief Marketing Officer, Asia-Pacific, HSBC

Much akin to The Sandbox’s other partnerships, HSBC will acquire its own plot of virtual land within the ever-diversifying metaverse.

In a media release, Sandbox Co-Founder and COO Sebastien Borget had the following to add:

“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.”

Be sure to check out The Sandbox by visiting the website here.

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