HSBC, one of the world’s largest international providers of banking and financial services, and the Sandbox metaverse today announced a new partnership “that will open up many opportunities for virtual communities around the world to interact with global financial services providers and sporting communities in the metaverse”.
The partnership between Sandbox and HSBC will result in the global financial services provider acquiring a piece of land, virtual real estate in the metaverse that will be used to engage and communicate with sports, cybersports and gaming enthusiasts.
The Sandbox Game is a multiplayer online game using blockchain technology with elements of decentralized finance (DeFi) and irreplaceable tokens (NFT). Sandbox is a metaverse where players can buy and sell “lands”, create and sell their “assets” – NFT tokens, as well as participate in the management of the project by deciding the vector of its further development. Unlike many games, The Sandbox has no predetermined game world and no preconceived scenario. In addition to creating and adding their own objects to the game world, users can earn money by selling their creations.
“Metaverse is how people will engage with Web3, the next generation of the Internet, using immersive technologies such as augmented reality, virtual reality and augmented reality,” said Suresh Balaji, HSBC director of marketing for Asia-Pacific.
He also added: “At HSBC, we see great potential to create new experiences through new platforms, opening up a world of possibilities for our current and future customers and the communities we serve”.
The amount of the deal was not disclosed. What is interesting is that not too long ago, HSBC bank banned its clients from buying shares of Microstrategy (a software developer that invested all of its liquidity in cryptocurrency) as high risk, and executives at the financial giant repeatedly stated that “crypto is not our thing”.