Renowned international banking and financial services provider HSBC and The Sandbox, a leading decentralized virtual gaming world, announce a new partnership, which will open a range of opportunities for virtual communities around the world to interact with global financial services providers. and sports communities in the metaverse of The Sandbox (here our review of the Alpha Season 2).
This groundbreaking partnership will see HSBC acquire a plot of LAND in the metaverse of The Sandbox, on which it will develop a project to engage and connect with sports, esports and gaming enthusiasts. The agreement also opens doors to other global institutions to continue bringing innovation to the Web3. It is estimated in fact that the global metaverse market will grow in value from $ 45.4 billion in 2019 to $ 1.5 trillion in 2030.
The Sandbox and HSBC together in the metaverse
This is the comment by Sebastien Borget, COO and co-founder of The Sandbox:
We are delighted to see large and trusted institutions like HSBC join the open metaverse The Sandbox, and embrace the culture of the Web3, connecting with users through entertainment, games and user-generated content. We believe this is the beginning of a wider adoption of the Web3 and the metaverse by institutions seeking to create branded experiences that engage users within this new ecosystem.
On the same wavelength Suresh Balaji, Chief Marketing Officer for the Asia-Pacific region of HSBC:
The metaverse is how people will experience the Web3, the next generation of the Internet, using immersive technologies such as augmented reality, virtual reality and extended reality. At HSBC we see great potential to create new experiences across emerging platforms, opening up a world of opportunity for our current and future customers and the communities we serve. Through our partnership with The Sandbox we are making our foray into the metaverse, finding the opportunity to create innovative experiences for new and existing customers. We are thrilled to work with our sporting partners, brand ambassadors and Animoca Brands to co-create educational, inclusive and accessible experiences.