HSBC makes foray into the metaverse

HSBC has announced it is entering the metaverse through a new partnership with blockchain gaming business The Sandbox.

HSBC is to buy a plot of land in The Sandbox metaverse, which will be developed to engage with sports, e-sports, and gaming enthusiasts.

HSBC is the first global financial services firm to enter The Sandbox.

“The metaverse is how people will experience Web3, the next generation of the Internet — using immersive technologies like augmented reality, virtual reality and extended reality,” said Suresh Balaji, chief marketing officer, Asia-Pacific, 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.

“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. 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 a list of 200 companies and celebrities that have already formed partnerships with the gaming company, including: Gucci; Warner Music Group; Ubisoft; The Walking Dead; Snoop Dogg; Adidas; Deadmau5; Steve Aoki; Richie Hawtin; The Smurfs; Care Bears; Atari; ZEPETO; and CryptoKitties.

“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,” said Sebastien Borget, chief operating officer and co-founder of The Sandbox. “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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