HSBC is a British multi-national investment bank. It also holds financial services and has announced that it has partnered up with The Sandbox, a blockchain virtual gaming platform. According to the platform’s parent company, Animoca Brands, HSBC is the first global financial services provider to enter The Sandbox metaverse.
HSBC Moves Into The Metaverse
The Sandbox has attracted many businesses and famous people to it over the last twelve months. The Sandbox attracted Deadmau5, Atari (Snoop Dogg), Deadmau5, Atari (The Care Bears), The Smurfs), Gucci, Warner Music Group and Adidas to the platform.
Wednesday saw Animoca Brands announce a partnership agreement with HSBC, the British bank. The global financial service provider will also engage in the Sandbox metaverse’s other finance providers.
“The groundbreaking partnership between The Sandbox and HSBC will see the global financial services provider acquire a plot of LAND, virtual real estate in The Sandbox metaverse, which will be developed to engage and connect with sports, esports, and gaming enthusiasts,” the announcement on Wednesday notes.
This press release highlights the PWC report which estimates that by 2030, the global metaverse market could grow to $45.4 billion to $1.5 Trillion. HSBC believes there is significant future potential in Web3 and metaverse.
“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,” the chief marketing officer at HSBC Asia-Pacific, Suresh Balaji, said in a statement. An executive at HSBC added:
HSBC sees great potential in emerging platforms to offer new experiences, which opens up a whole world for both our customers and the communities that we serve.
SAND Native Tokens Gains 33% Against The U.S. Dollar In Twelve Months
The Sandbox blockchain metaverse has seen enormous growth during the last year, and according to nonfungible.com’s NFT market tracker, The Sandbox is the third largest project in the last seven days in terms of sales, with $7.6 million in weekly volume. Furthermore, the project’s native token SAND has gained 336.2% year-to-date, according to today’s market statistics.
At the time of writing, SAND’s $3.3 billion market capitalization represents 0.18% of the crypto economy’s $1.86 trillion valuation. SAND rose more than 9% on Wednesday following the announcement of the Animoca Brands-HSBC partnership.
Is HSBC a potential entry to the metaverse through The Sandbox Blockchain Virtual Universe? Comment below and let us know how you feel about the subject.
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