NSBC will purchase a plot of land in the Sandbox Metaverse, which will be used for engaging with enthusiasts from sports and gaming
The Sandbox & NSBC Partnership
HSBC, a British bank, has announced a cooperation with The Sandbox, a major Metaverse cryptocurrency initiative. HSBC is one of the world’s leading multinational banking and financial services firms, and its partnership with The Sandbox will enable it to offer global financial services while also connecting sports communities from across the world.
In the Metaverse, HSBC joins another financial behemoth. JPMorgan Chase & Co. created a virtual lounge in Decentraland, a browser-based 3D virtual world platform, earlier this month. HSBC, headquartered in London, achieved $12 billion in revenue in Q4 2021, a 2% rise year over year, owing to its commercial banking division, which recorded credit and loan growth throughout the quarter. The bank reported full-year revenue of $49.6 billion, a 2% decrease from FY2020, due to lower interest rates and revenue declines in its markets and securities services businesses.
HSBC will be joining multiple existing partnerships that include: Adidas, Gucci, The Walking Dead, Snoop Dogg, Warner Music Group, Ubisoft, Atari, CryptoKitties, The Smurfs, Care Bears & more.
Quotes
Sebastien Borget, COO and co-founder of The Sandbox, said: “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.”
The chief marketing officer of HSBC Asia-Pacific, Suresh Balaji, said: “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. 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.”
