The Sandbox Partners with HSBC for a Sports Metaverse Initiative

Based on the official report, HSBC will be bringing in a Sports Zone by acquiring a piece of LAND in The Sandbox. With this initiative, the financial corporation will attempt to engage with gaming and sports communities, and raise awareness of its services. 

While there haven’t been a lot of details announced just yet, a picture posted on the press release shows a virtual plot of LAND on The Sandbox with an HSBC-branded stadium, potentially hinting at upcoming metaverse activities with exclusive rewards.

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CMO of HSBC Asia-Pacific Suresh Balaj spoke on the partnership with the Sandbox, highlighting the future of Web3 and how the Sandbox will open a lot of opportunities for current and future customers of the bank. He added:

"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."

With assets valued at almost $3 trillion as of December 2021, the banking corporation will become one of the few largest banks in the world that have partnered with crypto projects and have shown interest in blockchain technologies.

Ranking slightly above HSBC by total assets, JP Morgan Chase has been working on its own blockchain projects for a while now. Back in February, the largest bank in the United States, JP Morgan started developing a new-generation blockchain network that is resistant to quantum attacks.