HSBC Purchased Land at The Sandbox Metaverse Joining Gucci, Snoop Dogg

Multinational investment bank HSBC, with almost $3 trillion in assets, has become the first global bank to enter The Sandbox metaverse, the blockchain gaming firm said on Wednesday.

HSBC has purchased a plot of land at The Sandbox metaverse, which it plans to develop to engage with sports, e-sports, and gaming fans, according to The Sandbox.

The details of the development has not been announced, however, a GIF posted by The Sandbox accompanied the statement showing an HSBC stadium adjacent to a virtual body of water.

“HSBC sees great potential in creating new experiences through emerging platforms,” said Suresh Balaji, chief marketing officer at HSBC Asia-Pacific.

The partnership with The Sandbox will allow the bank to “create innovative brand experiences for new and existing customers,” according to Balaji.

The Sandbox has also recently inked deals with Gucci, Snoop Dogg, Adidas, Warner Music Group, and The Walking Dead.

In February, JPMorgan announced it was the first bank to enter the metaverse when it bought a plot of land in Decentraland to build a lounge for customers.

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