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- Standard Chartered, a bank that sponsors Liverpool football club has become the newest entry in the metaverse sector.
- Standard Chartered Bank has taken over land in The Sandbox game’s Mega City district, a Hong Kong talent inspired culture hub.
- Metaverse is a booming sector, and can be considered as a virtual replica of a real world, where folks can do similar activities like shopping they conduct in real life.
Standard Chartered Into The Sandbox
Standard Chartered Bank made an announcement on Tuesday that Standard Chartered Bank HK Ltd., has joined forces with The Sandbox, a well liked blockchain digital gaming platform, “to make a metaverse experience.”
Standard Chartered is a top notch international bank, having 85,000 workers serving clients in around 150 markets internationally, it has 776 branches all over the globe and it also sponsors one of the biggest English Premier League clubs Liverpool.
The bank elaborated that it is the initial bank to take over “digital land at The Sandbox’s metaverse Mega City district, a culture hub inspired by Hong Kong talents. This initiative is led by Standard Chartered Group’s innovation, fintech investment, and venture arm SC Ventures.
The announcement says that Standard Chartered Bank Hong Kong will actively engage its customers, tech community, staff, partners to traverse co-creation opportunities in this latest and exhilarating space.
The bank targets to experiment and develop latest experiences for customers as well as bring the domestic art and sports communities into the metaverse.
SC Ventures head, Alex Manson stated that, for some years, they have been developing business designs in crypto, virtual assets and witnessed the rise of metaverse as a vital milestone in Web3 evolution.
Standard Chartered is Not The Only Bank in This Space
Other prime banks and monetary service organizations which have stepped into the metaverse involve Fidelity Investments, JPMorgan, and HSBC. HSBC also joined forces with The Sandbox to foray into the metaverse, while Fidelity and JPMorgan chose Decentraland.
The metaverse is anticipated to grow considerably. Previous month, Citi made a forecast that metaverse could be a $13 Trillion opportunity with 5 Billion folks by the year 2030. International investment banks Morgan Stanley and Goldman Sachs both think that the metaverse might be a $8 Trillion opportunity.
Anurag is working as a fundamental writer for The Coin Republic since 2021. He likes to exercise his curious muscles and research deep into a topic. Though he covers various aspects of the crypto industry, he is quite passionate about the Web3, NFTs, Gaming, and Metaverse, and envisions them as the future of the (digital) economy. A reader & writer at heart, he calls himself an “average guitar player” and a fun footballer.
