HSBC – among the top-tier banks in the EU with overall assets of $2.4 trillion – reportedly revealed its plans of purchasing a virtual plot of LAND within The Sandbox for an unspecified sum. 

Specifically, the new partners reportedly look to build opportunities for users to interact with sports, esports, and gaming advocates, as revealed by the Sandbox. 

The banking heavyweight reportedly has plans down its pipeline to concentrate on financial literacy services, as well as “working with our sports partners, brand ambassadors and Animoca Brands to co-create experiences that are educational, inclusive and accessible”, Suresh Balaji, HSBC’s chief marketing officer for the Asia-Pacific region.

The collaboration was reportedly formed when numerous financial entities are shutting down offline branch locations because of concerns related to the digital banking shift, which was fast-tracked by the global health crisis. 

“Financial literacy is a major obstacle to building healthier, more equitable financial futures. The gaming component of The Sandbox is ideally suited for engaging customers and curious onlookers about important financial concepts in an interesting and novel way.” Mathieu Nouzareth – who just took up the Head role of The Sandbox – further shared his vision for banking in the metaverse.

The newly appointed CEO additionally disclosed his hopes to establish a connection with a “generation who is accustomed to engaging with all kinds of brands and experiences on digital platforms.”

Per Nouzareth, financial institutions should reportedly spend resources in an attempt to stay on track with different interactive brands and service providers seeking to come up with innovations in one of the hottest aspects of crypto at the moment – the metaverse.

Animoca Brands, the parent firm of The Sandbox, reportedly took to Twitter to disclose that HSBC has forged more than 200 current alliances operating in the metaverse. Other high-profile brands working with The Sandbox include the Warner Music Group, Adidas, and Ubisoft.