Recently, Metacostem platform The Sandbox announced a partnership with HSBC, which became the first global financial service provider to enter The Sandbox Metacosm. Hsbc, through its partnership, has purchased a virtual land at The Sandbox that will be developed as a virtual space for entertainment, sports, e-sports, gaming and finance professionals.
It is understood that The Sandbox is a virtual game ecosystem developed based on blockchain technology, featuring a decentralized game virtual world in which players can build, own and earn benefits. In addition to HSBC, more than 200 brands such as Gucci, Warner Music Group, Ubisoft, The Walking Dead, Snoopy Dog, Adidas and other brands have reached partnerships with The Sandbox.
HSBC's partnership with The Sandbox sets an example of Web3 innovation as consumers demand a better experience in the metaverse world based on decentralized and gamified products. Before HSBC, JPMorgan Chase was the first to venture into the metaverse, with JPMorgan launching Virtual Bank in February, opening a virtual lounge in a blockchain-based Decentraland world.
Suresh Balaji, Chief Marketing Officer of HSBC Asia Pacific, said in a statement: "By partnering with The Sandbox, we will enter the metacosm and create innovative brand experiences for new and existing customers. ”
Sebastien Borget, COO and co-founder of The Sandbox, said: "Welcoming HSBC to The Sandbox Metacosm, based on Web3 technology and generating user content such as entertainment, gaming, etc., we believe this is the beginning of wider adoption of Web3 and Metacosm by organisations driving brand experience and participation in this new ecosystem. ”