HSBC is one of the largest banks in Europe. with total assets of $2.4 trillion announceAn intention to purchase virtual land, or LAND, within The Sandbox, without disclosing the amount. It will develop opportunities for users to engage with esports and gaming enthusiasts, according to a statement from The Sandbox.
The banking giant will focus on offering financial literacy and “Working with sports partners, brand ambassadors, and Animoca Brands to create an educational, inclusive and accessible experience,” said Suresh Balaji, Chief Marketing Officer, HSBC Asia.
The partnership comes as many financial institutions are closing their branches due to the increasing shift to digital banking. About his vision of banking within the metaverse, Mathieu Nouzareth, the recently appointed CEO of The Sandbox, has been speeded up by the virus.
“Financial literacy is a key barrier to creating a healthier and more fair financial future. The Sandbox gaming component is ideal for customers and viewers who are curious about important financial concepts in interesting and innovative ways.”
He hopes to connect with “A generation that is accustomed to engaging with brands and experiences of all kinds on digital platforms.”
Animoca Brands, the parent company of The Sandbox. Tweetthat HSBC is entering into partnerships with more than 200 other companies operating in the metaverse, including Warner Music Group, Adidas and Ubisoft.
HSBC isn’t the first bank to enter the metaverse, however, as JP Morgan officially became the first major bank in Decentraland last month. It opened a virtual lounge within the metaverse.
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