Standard Chartered Buys Piece of Land in The Sandbox Metaverse

The Hong Kong division of financial giant Standard Chartered has bought a piece of virtual land in The Sandbox metaverse to explore the possibilities of a new space.

According to the announcement, Standard Chartered Bank (Hong Kong) Limited (SCBHK) has become the first land-owning bank in the Mega City area of ​​the virtual world. It is positioned as a cultural hub based on or inspired by Hong Kong talent.

Vnture capital firm SC Ventures is a financial institution intends to attract clients and partners to experiment in a new area.

Mary Huen, CEO of SCBHK, has commented on the purchase:

“Metaverse is a vision of the next stage in the evolution of the Internet, which opens up new opportunities and unique practices through the use of immersive technologies. Participation in the metaverse allows us to rethink our relationship with existing and potential customers, as well as the approach to improving interaction on the new platform.”

According to the head of SC Ventures Alex Manson, over the past few years, the company has been creating business models in the field of cryptocurrencies and digital assets.