Standard Chartered enters metaverse with Animoca Brands in HK

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Standard Chartered Hong Kong has become the latest bank to step into the metaverse as it has launched a partnership with Animoca Brands' subsidiary The Sandbox, creating innovative experiences for clients and the community. The bank said it had acquired a virtual land at The Sandbox metaverse’s Mega City.

Earlier this year, The Sandbox added some partners in Hong Kong to create its cultural hub Mega City, including Hong Kong tycoon Adrian Cheng, alternative investing leader Sun Hung Kai & Co, professional services firm PwC Hong Kong, blockchain-related investment and asset management company TIMES CAPITAL, director, producer and actor Stephen Fung and international star Shu Qi, renowned musician Dough-Boy, game IP Little Fighter, and local illustrator Dreamergo.

Led by SC Ventures, Standard Chartered group’s innovation, fintech investment and ventures arm, Standard Chartered Hong Kong will actively engage its clients, partners, staff, and the tech community, to explore co-creation opportunities in the new space to experiment and build new experiences for clients, as well as bringing the local sports and art communities into the metaverse.

“The metaverse is a vision for the next phase in the internet’s evolution, bringing new possibilities and unique experiences through the use of immersive technologies. Our involvement in the metaverse allows us to reimagine our relationship with existing and potential clients on this new platform and our approach to enhance client journeys," said Mary Huen, chief executive of Standard Chartered Hong Kong.

Alex Manson, head of SC Ventures, Standard Chartered, said, “For the past few years, we have been building business models in crypto, digital assets and see the rise of the metaverse as a critical milestone in the Web 3.0 evolution. We are excited for this opportunity to explore and innovate in partnership with The Sandbox, but also with our clients and partners who will play a crucial role in how this space develops."

The bank added that SC Ventures will continue to drive the bank’s entrance into the metaverse and exploration of future Web 3.0 opportunities.

Apart from Standard Chartered Hong Kong, HSBC also partnered with The Sandbox previously and acquired a 3x3 LAND site in The Sandbox metaverse with an intention of engaging and connecting with sports, esports and gaming enthusiasts.

According to HSBC's CMO for APAC, Suresh Balaji, the metaverse is how consumers will experience Web3, the next generation of the Internet. This is achieved by immersive technologies such as AR, VR and extended reality. "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," explained Balaji.

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