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NFT: HSBC enters the Sandboxs

The Sandbox keeps attracting professional players. Today, it is HSBC’s turn to enter the world of NFT and the metaverse.

In a statement released today (March 16, 2022), The Sandbox unveils a partnership with the investment bank HSBC. HSBC is one of the largest international providers of banking and financial services. The partnership aims to offer users many possibilities in terms of financial services related to e-sports or gaming.

However, HSBC is not the first professional player to be interested in the metaverse and NFTs. Recently, the food giant Carrefour offered itself a gateway in the form of an NFT in The Sandbox. The insurer AXA also entered the game, in an entry that was criticized by some users.

What do we know about the partnership between The Sandbox and HSBC?

The exact terms of the commitment have not yet been disclosed, so we will be sure to get back to you once we have this information.

For the time being, this partnership provides for the acquisition of a parcel of LAND, a virtual real estate represented by an NFT. According to HSBC, this parcel will be developed in order to develop the engagement in e-sport, NFT and gaming in general within the metaverse.

“Through our partnership with The Sandbox, we are making a foray into the metaverse, allowing us to innovate and deliver new brand experiences to our current and future users”

Suresh Balaji, HSBC’s Director of Marketing for Asia Pacific

This agreement should encourage other professional players to integrate the Sandbox’s LAND and, more generally, the development of Web 3. PricewaterhouseCoopers (PWC), a leading auditing firm, estimates that the global metaverse market should exceed $1.5 bn as early as 2030, after exceeding $45 billion in 2019.

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