HSBC Enters The Sandbox To Offer Educational Finance Games

HSBC, one of the largest European banks with total assets of $2.4 trillion, announced its intention to purchase a virtual piece of LAND within The Sandbox for an undisclosed amount. The new partners will develop opportunities for users to engage with sports, esports and gaming enthusiasts, according to The Sandbox’s statement.

The banking giant will reportedly focus on financial literacy offerings and “work with our sports partners, brand ambassadors and Animoca Brands to co-create experiences that are educational, inclusive and accessible,” said Suresh Balaji, HSBC’s chief marketing officer in Asia. Pacific region.

This partnership comes at a time when many financial institutions are closing physical branches due to the shift to digital banking, which was accelerated by the pandemic. Coin-Crypto spoke to recently appointed US CEO of The Sandbox, Mathieu Nouzareth, about his take on banking in the metaverse.

“Financial literacy is a major obstacle to building healthier, more equitable financial futures. The Sandbox’s gaming component is ideally suited to engage customers and curious onlookers in important financial concepts in an interesting and novel way.”

He added that he hopes to connect with a “generation used to dealing with all kinds of brands and experiences on digital platforms.” And that financial institutions should not lag behind other interactive brands and service providers that want to innovate in the metaverse.

Animoca Brands, the parent company of The Sandbox, tweeted that HSBC joins more than 200 existing partnerships operating in the metaverse. Other major brands working with The Sandbox include the Warner Music Group, Adidas, and Ubisoft.

Related: The Sandbox partners with World of Women to drive education and mentorship for women

However, HSBC is not the first bank to enter the metaverse. Last month, JP Morgan officially became the first major bank in Decentraland, with a virtual lounge in its metaverse. The global metaverse market is estimated to be $1 trillion by 2030.

Recently, Coin-Crypto Brasil spoke to The Sandbox founder, Sebastien Borget, who highlighted the company’s call for decentralization, interoperability, and creator-generated content. “It’s important to us that the content you own or create in The Sandbox can be ported to other open metaverses and vice versa,” he said.

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