British Investment Bank HSBC Joins Metaverse via Sandbox, Animoca Brands Partnership

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British Investment Bank HSBC Joins Metaverse via Sandbox, Animoca Brands Partnership – The Sandbox has drawn a large number of celebrities and businesses to the blockchain virtual game platform in the previous year. 

Deadmau5, Snoop Dogg, Atari, The Care Bears, Warner Music Group, The Smurfs, Adidas, PWC Hong Kong, Gucci, Samsung, Ubisoft, Square Enix, and others have all expressed interest in The Sandbox.

Animoca Brands and HSBC, a British bank, launched a partnership on Wednesday, in which the global financial services provider would connect with sports communities and other finance providers within The Sandbox metaverse.

“The Sandbox and HSBC have announced a groundbreaking partnership in which the global financial services provider will acquire a plot of LAND, virtual real estate in The Sandbox metaverse, that will be built to engage and connect with sports, esports, and gaming enthusiasts,” according to the announcement on Wednesday.

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Also Read: US Senators Introduce Crypto Sanctions Bill — Expert Says It’s Overbroad and Unconstitutional

According to the press release, the metaverse market will expand from $45.4 billion to $1.5 trillion by 2030, according to a PWC analysis. The financial institution HSBC believes that the metaverse and Web3 have a lot of potential in the future.

“The metaverse is how people will experience Web3, the next generation of the Internet, employing immersive technologies like augmented reality, virtual reality, and extended reality,” said Suresh Balaji, chief marketing officer of HSBC Asia-Pacific.

The HSBC executive went on to say:

“At HSBC, we see developing platforms as having enormous potential for creating innovative experiences for our present and future clients, as well as the communities we serve.”

Also Read: NFT Analytics Platform Cryptoslam Raises $9M From Animoca Brands

The Sandbox blockchain metaverse has had tremendous growth over the previous year, and according to nonfungible.com’s NFT market tracker, The Sandbox is the third largest project in terms of weekly volume, with $7.6 million in sales. According to today’s market figures, the project’s native token SAND has gained 336.2 percent year to date.

SAND’s $3.3 billion market value is 0.18 percent of the crypto economy’s $1.86 trillion valuation at the time of writing. SAND rose nearly 9% versus the US dollar on Wednesday as a result of the Animoca Brands and HSBC collaboration news.

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