The Sandbox (SAND) is partnering with British banking giant HSBC to level up esports engagement in the gaming metaverse.
In a new blog post, The Sandbox says the metaverse altcoin has signed a deal for HSBC to acquire a digital plot of land on SAND’s platform.
The bank will then develop digital real estate and use it to engage and connect with sports, esports and gaming enthusiasts in the decentralized metaverse.
The Sandbox and HSBC ink the partnership agreement amid forecasts that the global metaverse market will grow to $1.5 trillion in 2030. In 2019, the nascent crypto sector was worth only $45.4 billion.
Says Suresh Balaji, HSBC’s chief marketing officer for the Asian-Pacific region,
“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.”
With HSBC’s foray into the metaverse, the bank joins a roster of popular brands and celebrities that are already exploring the space. According to The Sandbox, it has over 200 partnerships to date, including deals with Adidas, Deadmau5, Gucci, Snoop Dogg, Warner Music Group and Ubisoft.
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