One of the world’s leading banks, HSBC aims to be a part of the metaverse by collaborating with the blockchain-powered virtual world, The Sandbox.
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HSBC will obtain a LAND, an NFT representing real estate in the digital world. It becomes the first global financial company to collaborate with The Sandbox. The HSBC’s Regional head of marketing, Asia Pacific,Suresh Balaji finds the metaverse is the way the world will use the next gen of the Internet, Web 3.
With the collaboration, HSBC aims to provide users with innovative brand experiences.
The Chief Operating Officer of The Sandbox, Sebastien Borget said the team believes the partnership is a step to a wider adoption of Web 3 by institutions.
Among the Sandbox partners are fashion houses, game companies, singers, filmmakers, and others. The number of The Sandbox installs on mobile is above 40 globally. Transactions in the Sandbox are made via its native token, SAND. Currently, SAND trades at around $2.92 having a market cap of over $3.3 billion.