Following news that HSBC bought a plot of virtual land and Paris Hilton's arrival in The Sandbox, the metaverse token SAND has jumped.
The Sandbox is an Ethereum-based metaverse game. Image: The Sandbox
The Sandbox is becoming a playground for big brands to begin exploring the hype-driven metaverse. Now, Europe's second-largest bank, HSBC, and American noughties celeb turned crypto enthusiast, Paris Hilton, are joining the fun.
HSBC announced this morning a new partnership with the metaverse platform, which included the purchase of a virtual plot of LAND, The Sandbox's tokenized equivalent of digital real estate. The bank will reportedly put this plot to work, building various esports and gaming activities for enthusiasts.
"Through our partnership with The Sandbox we are making our foray into the metaverse, allowing us to create innovative brand experiences for new and existing customers," the chief marketing officer of HSBC's Asia-Pacific branch, Suresh Balaji, said in a prepared statement. "We're excited to be working with our sports partners, brand ambassadors, and Animoca Brands to co-create experiences that are educational, inclusive, and accessible."
Animoca Brands is the parent company of The Sandbox and is heavily involved in all things crypto and gaming. The Sandbox is a gaming platform built on the Ethereum blockchain that leverages cryptocurrencies and non-fungible tokens (NFTs).