HSBC buys virtual lands in online games and debuts in Metaverse

HSBC buys virtual lands in online games and debuts in Metaverse

The HSBC logo at the bank’s offices in the Financial District of London (Credit: REUTERS/Reinhard Krause//)

by Lawrence White

LONDON (Reuters) – HSBC is buying virtual lands within the online game The Sandbox, for an undisclosed amount, in the bank’s first major metaverse.

The digital push will allow HSBC to connect with fans of sports, esports and video games through its land in The Sandbox, a virtual space owned by Hong Kong-based Animoca Brands.

HSBC said it looks forward to being able to “create innovative brand experiences for new and existing customers” in the virtual world.

, Metaverse: Kids enter virtual strip club, newspaper says

The venture comes after HSBC on Tuesday announced the closure of 69 more UK branches amid online migration of customers.

HSBC is the second global bank to invest in the popular Metaverse platform, since JPMorgan made its presence felt at Decentraland last month.

The US bank opened a lounge space at the virtual mall – which includes a digital portrait of chief executive Jamie Dimon – in early February after publishing a report on “Opportunity in the Metaverse”.

JP Morgan said in its report that about $54 billion is spent annually on virtual goods, which is more than twice the amount spent on buying music. Assets such as land can often be purchased in the form of non-fungible tokens (NFTs).

In the sandbox-like Metaverse environment, users can buy land, move around using avatars, play games, and find friends. Facebook recently changed its name to Meta to signify its commitment to the Metaverse concept.

See also  Milan started the draw against United (1–1) in the Europa League round of 16; Ajax and Villarreal win - 03/11/2021

(by Lawrence White)


know more

+ Omicron: Unexpected symptom of infection in children worries medical teams
+ Mercadão de SP sellers threaten customers with fruit scam
+ Video: Mother attacked on social media for wearing tight clothes to take son to school
+ Horoscope: See today’s forecast for your zodiac sign
+ What is known about fluorone?
+ Lemon squeeze trick created a craze on social media
+ ‘Monster ichthyosaur’ discovered in Colombia
+ One twin became a vegetarian, the other ate meat. check result
+ See which were the most stolen cars in SP in 2021
+ Campaign identifies giant squid responsible for shipwreck in 2011
+ US agency warns: never wash raw chicken meat

About the author: Sarah Gracie

"Proud social media buff. Unapologetic web scholar. Internet guru. Lifelong music junkie. Travel specialist."

Related Posts

Leave a Reply

Your email address will not be published.