The Sandbox today announced a new partnership with HSBC, one of the world’s largest international providers of banking and financial services, as it enters the metaverse to engage with sports, e-sports and gaming enthusiasts.
The Sandbox opens the doors of its metaverse to HSBC
The Sandbox’s popular blockchain metaverse has announced its new partnership with HSBC on the social network of crypto-lovers Twitter:
Delighted to announce we’ve partnered with @HSBC, one of the world’s largest international banking & financial services providers!
Bringing a host of opportunities to engage with global financial services & sports communities in The Sandbox Metaverse.https://t.co/GmQ3lrVmnB
— The Sandbox (@TheSandboxGame) March 16, 2022
“Delighted to announce we’ve partnered with HSBC, one of the world’s largest international banking & financial services providers! Bringing a host of opportunities to engage with global financial services & sports communities in The Sandbox Metaverse”.
In essence, HSBC becomes the first global financial services provider to enter The Sandbox metaverse by acquiring LAND and engaging with sports communities in the metaverse.
Speaking about this, Suresh Balaji, Chief Marketing Officer, Asia Pacific, HSBC, said:
“The metaverse is how people will experience Web3, the next generation of the Internet — using immersive technologies like augmented reality, virtual reality and extended reality. At HSBC, we see great potential to create new experiences through emerging platforms, opening up a world of opportunity for our current and future customers and for the communities we serve. Through our partnership with The Sandbox we are making our foray into the metaverse, allowing us to create innovative brand experiences for new and existing customers. We’re excited to be working with our sports partners, brand ambassadors, and Animoca Brands to co-create experiences that are educational, inclusive and accessible”.
The Sandbox and HSBC to innovate the Web3 and metaverse
Sebastien Borget, COO and co-founder of The Sandbox also spoke on the matter, stating that HSBC is an institution that is joining this open metaverse, ready to embrace and innovate the culture of Web3.
This new partnership with HSBC could initiate a wider adoption of Web3 and the metaverse by the very institutions that drive brand experiences and engage in this new ecosystem.
HSBC joins The Sandbox’s more than 200 existing partnerships such as those with Gucci, Warner Music Group, Ubisoft, The Walking Dead, Snoop Dogg, Adidas, The Smurfs, CryptoKitties and many more.
Tokens linked to the metaverse grow in value
The price of SAND and the cryptocurrencies of the metaverse
Meanwhile, against this general backdrop of a bear market for the major cryptocurrencies, SAND has seen its price climb 10% in the last 24 hours, from $2.70 to $2.95.
That’s still nothing compared to its recorded high of almost $4.40 this month, and still a long way from the $6.80 recorded at the end of 2021.
What is certain is that the 38th crypto by market capitalization remains second on the podium of cryptocurrencies dedicated to the metaverse category, just behind Decentraland (MANA), and ahead of Axie Infinity (AXS).
In fact, taking a look at the total capitalization of the top three cryptocurrencies in the metaverse at the time of writing, MANA is over $4 billion, SAND has a market cap of over $3 billion, and AXS is close to (but not touching) $3 billion.
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