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Standard Chartered Bank Enters Metaverse

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HIGHLIGHTS :

  • Sandbox is a gaming virtual world
  • It is built on the Ethereum blockchain
  • Many brands have tied up with Sandbox for their virtual projects

Recently HSBC Bank also decided to buy a part of the virtual land in the Sandbox metaverse to connect with sports, esports and gaming enthusiasts

Sandbox is a gaming virtual world

Moreover, Standard Chartered Bank, one of the global banks, has announced its entry into the metaverse. This UK bank has bought virtual land in the megacity district of the Sandbox metaverse. In the digital segment, it is said to be a culture hub inspired by Hong Kong artists. The project has been initiated by SC Ventures, the innovation, fintech investment, and ventures arm of Standard Chartered Bank. Standard Chartered Bank is looking to enhance the services and experience for its customers.

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It is built on the Ethereum blockchain

However, This bank was started in 1853 and has more than 1,000 branches in more than 70 countries. It wants to connect with the sports and arts communities now active on the metaverse. Bitcoin.com quoted SC Ventures Head Alex Manson as saying, “Standard Chartered Bank will engage its clients, partners, staff and tech community to explore opportunities in this new and exciting segment. For the past few years, we have been engaged in crypto, and digital We are building a business model in assets and see the metaverse as a turning point in Web3.”

Also, Bill Winters, Group Chief Executive, Standard Chartered Bank, said, “We have expanded our presence in the metaverse. This is the first bank to purchase virtual land in the megacity district of Sandbox. I am looking forward to adding clients and partners to this emerging virtual segment. Excited about the many opportunities including the methods.”

Many brands have tied up with Sandbox for their virtual projects

Recently HSBC Bank also decided to buy a portion of virtual land in the sandbox metaverse to connect with sports, esports, and gaming enthusiasts. The Metaverse is a fully functional virtual world. It will be capable of delivering an Augmented Reality (AR) experience. Sandbox is a gaming virtual world built on the Ethereum blockchain. It also supports activities involving non-fungible tokens (NFTs) for gamers on the platform. Many big brands have partnered with Sandbox to launch their virtual projects. Moreover, It is being said that the metaverse will take parallelism to a whole new level in terms of the internet. Gaming Ends in Advancement of the Metaverse.

Nevertheless, Creators like the gaming industry are expected to play a major role in driving the metaverse forward.

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