HSBC has become the latest institutional giant to enter the metaverse through a partnership with The Sandbox behind metaverse coin SAND. The partnership was announced via The Sandbox’s blog post. Here are the details…
HSBC partners with The Sandbox behind metaverse coin SAND
British bank has purchased a plot in the metaverse of the metaverse venture, according to a blog post published Wednesday by The Sandbox . It is stated that this plot is an area to be developed to entertain sports, e-sports, gaming and finance professionals. Details on the catalysts behind the move or what to do now were scant, but Suresh Balaji, marketing manager for HSBC’s Asia-Pacific region, said the metaverse is about “how people will experience web3, the next generation internet,” and used the following statements: :
At HSBC, we see great potential to create new experiences through emerging platforms, opening up a world of opportunity for our customers and the communities we serve. We are excited to work with our sports partners, brand ambassadors and Animoca Brands.
SAND price jump
The Sandbox, It is a subsidiary of Hong Kong gaming company Animoca Brands. The firm raised $93 million in a round led by the SoftBank Vision Fund 2 in November last year. Besides HSBC; As Cryptokoin.com has previously reported, companies such as Gucci, Warner Music Group and Ubisoft also flocked to The Sandbox’s metaverse. Meanwhile, the image below, added to the blog post, shows a pixelated terrain featuring an HSBC-branded rugby stadium.
Co-founder and COO, Sebastien Borget, said companies like HSBC’s interest in the metaverse “begins with the beginning of the wider adoption of the web3 and brand experiences and innovations in this new ecosystem. pointed to the current that drives participation”. Meanwhile, the price of SAND rose from $2.68 to $2.95 after the announcement. SAND, which is in the fortieth place by market value, is changing hands at $2.93, an increase of 9 percent at the time of writing.
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