Sandbox price posts double-digit gains after partnership with global banking giant HSBC

Sandbox price exploded with nearly 10% gains over the past day as global banking giant HSBC announced a partnership with the metaverse token. HSBC has unveiled plans to buy and develop a virtual plot in the Sandbox metaverse. 

Sandbox price rallies with HSBC’s metaverse push

Sandbox price posts nearly double-digit gains as it partners with HSBC and powers the multinational bank’s entry in the metaverse. HSBC, a London headquartered multinational investment bank is among the first global banking giants to enter the metaverse through their partnership with Sandbox. 

HSBC will buy a digital plot in the Sandbox metaverse and engage with esports and gaming fans through a stadium. Suresh Balaji, chief marketing officer at HSBC Asia-Pacific, was quoted as saying that the partnership would enable the banking giant to “create innovative brand experiences for new and existing customers.”

The bank is yet to share additional details about the partnership; the promotional video reveals a virtual HSBC stadium by a water body in the Sandbox metaverse. 

Global brands and fashion houses have entered the metaverse with Sandbox. Warner Music Group, The Walking Dead and Adidas are among the top brands working with Sandbox. 

Analysts at the crypto intelligence firm IntoTheBlock have noted a renewed interest in Sandbox. Analysts reported a 32.37% increase in new traders holding Sandbox’s metaverse token SAND for less than a month. 

Sandbox addresses that held SAND for < 1 month

In February, another banking giant and competitor, JPMorgan, acquired real estate in the Decentraland metaverse to build a virtual lounge for customers. 

Sandbox price rallied in response to HSBC’s entry in the metaverse. Analysts have evaluated the Sandbox price trend and noted a bullish divergence on the metaverse token’s chart.