The Sandbox Metaverse, a virtual game depicted as one of the early Metaverse, has announced its new partnership deal with KEB Hana Bank, a popular commercial bank in South Korea that provides the most extensive range of foreign exchange products to bring banking services to the Metaverse.
Details Of The Partnership Deal
“The Metaverse is the way people will experience Web3, and we want to be a part of this new trend. This partnership can open a door for a brand-new type of service, especially for the young generations.” Said Jung Kim, Deputy President of KEB Hana Bank.
This partnership deal was initially announced on the Sandbox Medium page on July 11th, today. The blog post states, “This partnership between The Sandbox and KEB Hana Bank plans to launch a new type of event marketing.”
“We are excited to see KEB Hana Bank enter the Metaverse to create new kinds of content.” Said Cindy Lee, CEO Of Sandbox Korea. She added, “This will be the next frontier of easy-to-use Metaverse banking service for users.”
This partnership means Sandbox can now provide essential banking services by opening a virtual bank at its Metaverse with the help of KEB Hana Bank.
This partnership deal seems like a win-win opportunity for both parties. Sandbox can now benefit from the KEB Hana Bank, and at the same time, KEB Hana Bank can also now benefit from Sandbox.
The Sandbox benefits from this partnership because its virtual game can now provide users “basic banking services and promote investments or coloration opportunities” in the Sandbox Metaverse.
KEB Hana Bank benefits from this partnership in the sense that “Hana Financial Group will be introduced in K-verse, a virtual space containing all kinds of Korean content to reach Gen Z meaningfully.”
This partnership deal is an interesting one as having a virtual branch of a bank in the Metaverse sounds fascinating. Users of the Sandbox Metaverse might have access to banking services such as customer care and other banking services.
A user of the KEB Hana Bank can have a complaint at the bank and might probably not need to go to the actual bank in the real world to make that complaint.
They can instead just pick up their VR, enter The Sandbox Metaverse and visit the virtual bank in the digital world.
This Partnership deal is a big step forward in the Metaverse and cryptocurrency space; first, it was with digital lands and houses where you could purchase a virtual land and build a virtual home on it, and eventually sell it. Or a virtual house that could be like your real home in the virtual world.
Virtual stores still coming around, where you could shop in virtual stores like Walmart and get it delivered to your doorstep in the real world.
Now with virtual banks, where you can get banking services in the virtual world.
The Metaverse continues to expand, and the aim of the Metaverse to become like the second world is gradually becoming more real.