HSBC becomes the recent corporate giant to join the metaverse through a partnership with The Sandbox.
Source: The Sandbox
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The British bank has purchased a plot of land in the metaverse startup’s virtual worlds to host sports, e-sports, gaming, and financial professionals.
Suresh Balaji, chief marketing officer for the Asia-Pacific region, stated that the metaverse is how people will experience web3, the next generation of the internet.
Balaji further stated that there is great potential to create new experiences via emerging platforms, opening up opportunities for current and future customers and for the communities.
The Sandbox is a subsidiary of Animoca Brands, the Hong Kong gaming giant. The company raised $93M in a financing round led by SoftBank Vision Fund 2 in November last year.
Sebastien Borget, co-founder and COO of The Sandbox, stated that the interest of companies such as HSBC and Ubisoft in the metaverse signals the start of broader adoption of web3.