HSBC enters the metaverse to boost sports partnerships

HSBC’s digital environments on The Sandbox platform will look to engage fans and boost value of sponsorship.

  • HSBC works with World Rugby Sevens, golf, and badminton
  • The Sandbox offers a ‘decentralised gaming world’
  • Experiences will be built with Animoca Brands

HSBC is to establish a presence on The Sandbox metaverse platform so it can work with its sports partners to drive fan engagement in immersive virtual environments.

The bank works with several major sports properties, including the World Rugby Sevens Series, as well as golf’s LPGA Tour and DP World Tour. HSBC becomes the first major financial services provider to work with The Sandbox, which describes itself as a decentralised gaming world with a vision of a continuous shared digital space, populated by users and brands.

Other brands on the platform include Adidas, as well as musicians, gaming companies, and entertainment properties.

To build the virtual environment, HSBC has bought a plot of ‘land’ in The Sandbox where it will create experiences that promise to engage sports, esports and gaming enthusiasts. In doing so, HSBC will be able to maximise the value of its partnerships for all parties.

“At HSBC, we see great potential to create new experiences through emerging platforms, opening up a world of opportunity for our current and future customers and for the communities we serve,” said Suresh Balaji, chief marketing officer, Asia-Pacific at HSBC.

“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. 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 has invested in more than 150 non-fungible token (NFT) and blockchain-related technology firms, including the OpenSea marketplace and Dapper Labs, while it also offers products to help customers build metaverse worlds, digital tokens, and gaming experiences. The firm has several interests in the sports industry and has helped create NFT-based games for several motorsport entities, including Formula One, MotoGP, and Formula E.

“We’re pleased to see large, trusted institutions such as HSBC join The Sandbox open metaverse and embrace the culture of Web3, connecting with users through entertainment, gaming and user-generated content,” said Sebastian Borget, chief commercial officer and co-founder of The Sandbox. “We believe this is the beginning of a broader adoption of Web3 and the metaverse by institutions driving brand experiences and engagement within this new ecosystem.”

 

SOURCE: https://www.sportspromedia.com/news/the-sandbox-hsbc-metaverse-bank/