• The global metaverse market is expected to grow from $45.4 billion in 2019 to $1.5 trillion in 2030
• HSBC wants to contact Metaverse users
• The Sandbox operates over 200 partnerships with various companies and artists
Cooperation to advance the development of Metaverse
The Metaverse platform The Sandbox and the major British bank HSBC want to work together in the future. This was announced by The Sandbox in a press release on March 16. HSBC needs to buy virtual land in the sandbox metaverse. The financial services provider wants to use it to connect with sports, esports and gaming enthusiasts.
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In the press release, The Sandbox points out that consumer demand for powerful technology to enable the Metaverse to collect decentralized and game-based offers is high. According to the company, the cooperation paves the way for other global institutions to further develop Web3. Metaverse virtual worlds provide users with immersive and interactive experiences. Many of these platforms are based on blockchain technology.
The virtual reality market continues to grow. In the press release, The Sandbox refers to a 2019 report by audit firm PWC titled “Seeing is Believing.” In it, the authors estimate that the global metaverse market will grow from $45.4 billion in 2019 to $1.5 trillion by 2030.
HSBC and The Sandbox are confident in the partnership
Suresh Balaji, Marketing Director at HSBC Asia Pacific, explained in The Sandbox press release that the Metaverse represents how humans would experience the next generation of the Internet (Web3). Comprehensive technologies such as augmented and virtual reality are used. Balaji went on to say that HSBC sees great potential in creating new experiences through emerging platforms that open up a world of opportunity for current and future customers. Balaji sees the partnership with The Sandbox as a foray into the metaverse, enabling the company to create innovative brand experiences for new and existing customers.
Sébastien Borget, Managing Director and founding member of The Sandbox, also commented positively on the partnership with HSBC. “We are thrilled to see major and trusted institutions like HSBC joining the Sandbox metaverse and embracing the Web3 culture of engaging with users through entertainment, self-generated content or through games.” Borget believes this marks the beginning of widespread institutional adoption of Web3 technology and the metaverse.
The Sandbox operates partnerships with more than 200 companies and artists
As The Sandbox asserts in its press release, it supports the idea of the Metaverse as a continuous, shared, digital space where disparate worlds and brands collide to generate real business value.
The Sandbox has partnered with over 200 companies and artists, including Gucci, Warner Music, Ubisoft, The Walking Dead, Snoop Dogg, adidas, Deadmau5 and Steve Aoki. All vendor partners follow the vision of encouraging players to create their own experiences and use original and already known characters and worlds. According to The Sandbox, he intends to release more details about the cooperation with HSBC in due course.
Mr. Wieser / Editor finanzen.net
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