{"id":58829,"date":"2022-03-16T15:11:36","date_gmt":"2022-03-16T13:11:36","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=58829"},"modified":"2025-09-04T18:47:27","modified_gmt":"2025-09-04T15:47:27","slug":"hsbc-buys-virtual-land-in-the-sandbox-metaverse","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/hsbc-buys-virtual-land-in-the-sandbox-metaverse\/","title":{"rendered":"HSBC buys virtual land in The Sandbox metaverse"},"content":{"rendered":"<p>The largest bank in the United Kingdom, HSBC, has acquired a parcel of virtual land in The Sandbox metaverse (SAND) to engage with financial-services providers and attract sports communities.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Delighted to announce we\u2019ve partnered with <a href=\"https:\/\/twitter.com\/HSBC?ref_src=twsrc%5Etfw\">@HSBC<\/a>, one of the world\u2019s largest international banking &#038; financial services providers! \ud83e\udd1d<\/p>\n<p>Bringing a host of opportunities to engage with global financial services &#038; sports communities in The Sandbox Metaverse.<a href=\"https:\/\/t.co\/GmQ3lrVmnB\">https:\/\/t.co\/GmQ3lrVmnB<\/a><\/p>\n<p>\u2014 The Sandbox (@TheSandboxGame) <a href=\"https:\/\/twitter.com\/TheSandboxGame\/status\/1503974594922926080?ref_src=twsrc%5Etfw\">March 16, 2022<\/a><\/p>\n<\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Financial details of the deal were not disclosed.<\/p>\n<p>Suresh Balaji, HSBC\u2019s Asia-Pacific marketing director, described the metaverse as \u201cthe next generation of the internet.\u201d He said the financial conglomerate sees enormous potential in the technology.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cWe are pleased that major organisations such as HSBC are joining The Sandbox\u2019s open metaverse and embracing Web 3.0 culture,\u201d said co-founder and chief operating officer Sebastien Borje.<\/p>\n<\/blockquote>\n<p>Following the announcement of the collaboration, the price of the SAND token rose by 10%. As of this writing, it was trading at about $2.92.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"640\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/Snimok-ekrana-2022-03-16-v-14.45.33-1024x640.png\" alt=\"HSBC buys virtual land in The Sandbox metaverse\" class=\"wp-image-167749\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/Snimok-ekrana-2022-03-16-v-14.45.33-1024x640.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/Snimok-ekrana-2022-03-16-v-14.45.33-300x188.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/Snimok-ekrana-2022-03-16-v-14.45.33-768x480.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/Snimok-ekrana-2022-03-16-v-14.45.33-1536x960.png 1536w, https:\/\/forklog.com\/wp-content\/uploads\/Snimok-ekrana-2022-03-16-v-14.45.33-2048x1280.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption>SAND\/USDT chart on Binance. Data: <a href=\"https:\/\/ru.tradingview.com\/symbols\/SANDUSDT\/\">TradingView<\/a>.<\/figcaption><\/figure>\n<p>The project\u2019s market capitalization stands at $3.3 billion, according to <a href=\"https:\/\/www.coingecko.com\/en\/coins\/the-sandbox\">CoinGecko<\/a>.<\/p>\n<p>In February, the Italian fashion house Gucci <a href=\"https:\/\/forklog.com\/en\/news\/gucci-buys-a-parcel-of-land-in-the-sandbox-metaverse\">acquired<\/a> a virtual parcel of land in The Sandbox.<\/p>\n<p>In January, Warner Music Group <a href=\"https:\/\/forklog.com\/en\/news\/warner-music-group-signs-partnership-with-the-sandbox-nft-project\">announced<\/a> the launch of a music-themed park in the project&#8217;s metaverse.<\/p>\n<p>In April 2021, HSBC <a href=\"https:\/\/forklog.com\/en\/news\/hsbc-confirms-ban-on-microstrategy-stock-purchases\">forbade<\/a> clients of its HSBC InvestDirect platform from purchasing shares of the analytics-software provider MicroStrategy, <a href=\"https:\/\/www.buybitcoinworldwide.com\/treasuries\/\">\u0432\u043b\u0430\u0434\u0435\u044e\u0449\u0435\u0433\u043e<\/a> 125,051 BTC at the time of publication.<\/p>\n<p>In May, the bank\u2019s chief No\u00ebl Quinn <a href=\"https:\/\/forklog.com\/en\/news\/hsbc-chief-we-do-not-view-bitcoin-as-an-asset-class\">said<\/a> that the conglomerate does not plan to launch a cryptocurrency trading desk or offer them as an investment vehicle.<\/p>\n<p>In September, HSBC\u2019s CEO <a href=\"https:\/\/forklog.com\/en\/news\/hsbc-chief-backs-cbdc-and-criticises-cryptocurrencies\">criticised<\/a> digital assets and emphasised the institution\u2019s commitment to developing the concept of CBDC <span data-descr=\"central bank digital currency\" class=\"old_tooltip\">CBDC<\/span>.<\/p>\n<p>Read ForkLog\u2019s bitcoin news in our <a href=\"\/\/telegram.me\/forklog\" target=\"\u201c_blank\u201d\" rel=\"\u201cnofollow\u201d noopener\">Telegram<\/a> \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The largest bank in the United Kingdom, HSBC, has acquired a parcel of virtual land in The Sandbox metaverse (SAND) to engage with financial-service providers and attract sports communities.<\/p>\n","protected":false},"author":1,"featured_media":58830,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1582,1353,2060,1361],"class_list":["post-58829","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-hsbc","tag-metaverses","tag-the-sandbox","tag-virtual-world-innovations"],"aioseo_notices":[],"amp_enabled":true,"views":"33","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/58829","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=58829"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/58829\/revisions"}],"predecessor-version":[{"id":58831,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/58829\/revisions\/58831"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/58830"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=58829"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=58829"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=58829"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}