The Sandbox Brings Standard Chartered, Regal Hotels, and Other Hong Kong Businesses into the Metaverse

Agne Cimermanaite

Published: 28 April 2022, 2:16 am Updated: 08 Jun 2022, 5:37 am

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Financial institutions and real estate developers are exploring the innovative and exciting metaverse space by creating partnerships and new opportunities. Hong Kong – the city known as a global financial and technological center, now has its own digital resemblance created in The Sandbox.

Mega City is the district known as the virtual Hong Kong’s cultural hub that has opened doors to the following businesses: Tatler Asia, EVI, Brinc, MADworld, Gameone, Chord Hero, Time Gates of Hong Kong Pop Culture, UFO School, and Ocean Park.

“Our new partners bring some of the best of what makes Hong Kong a multi-cultural, vibrant city while sharing our creative vision of building an open metaverse. They are reinventing themselves and innovating through The Sandbox platform to offer unique virtual experiences,” Sebastien Borget, co-founder and COO of The Sandbox stated.

On Monday, Standard Chartered Bank (Hong Kong) Limited announced its move into The Sandbox’s metaverse by purchasing virtual land in Mega City. The multinational banking giant entered the decentralized gaming metaverse to experiment and provide new experiences to its clients. It’s the first bank in The Sandbox to acquire virtual land. 

“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, the Chief Executive of Standard Chartered, Hong Kong.

Regal Hotels, one of the largest hotel groups in Hong Kong, set goals to establish a green metropolis by creating green hotel and estate land NFTs in The Sandbox. It dives into the metaverse with MetaGreen, a project promoting eco-friendliness and sustainability. The virtual residential project should be completed in October. 

“Sustainability and technology have long been at the heart of our group’s DNA and passionately infused in our corporate initiatives and strategic investments. Web3 and metaverse technologies will not only disrupt every facet of our daily lives, but also empower socially inclusive and environmentally sustainable impact in the world,” Ms. Poman Lo, the managing director of the Regal Hotels Group, explained the project’s initiative.

According to research by Citigroup, the economy of the metaverse is expected to reach $13 trillion by 2030. Companies are testing new business ideas and approaching ESG (environmental, social, and governance) goals. The virtual world also opens up new possibilities for interactions and is aimed at fostering communities. 

Read related posts:

• South China Morning Post Sells its First Historical NFT Collection in Two Hours
• Hotels and resorts are using NFT technology for bookings 
• Snoop Dogg Released the First Metaverse Video

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