HSBC Preps for Hong Kong 7s with Virtual Rugby Quests in The Sandbox

HSBC has pounced on the upcoming Hong Kong Sevens tournament with metaverse-based rugby quests in The Sandbox.
Image source: The Sandbox

Quick take:

  • HSBC has launched virtual rugby quests on The Sandbox metaverse.
  • The global banking giant is giving users an opportunity to experience and learn rugby in the metaverse ahead of Hong Kong Sevens.
  • Players will have an opportunity to win free tickets to the tournament.

HSBC has launched virtual rugby quests in the metaverse. The leading financial institution has teamed up with The Sandbox, again, to create a metaverse-based competition that will give participants an opportunity to win tickets to the Hong Kong Sevens tournament.

This is not the first time the British banking giant is foraying into the metaverse. HSBC bought a digital plot of land in The Sandbox back in March with the goal of building a community that will help it connect with sports, esports and gaming enthusiasts.

The virtual quests seem to be part of that strategy as they are connecting the financial institutions with fans of one of the most popular sporting events in the world.

HSBC is one of the two co-sponsors of Hong Kong Sevens alongside local airline Cathay Pacific. The tournament is coming out of a 3-year hiatus and will take place from November 4 to 6, 2022.

HSBC will be staging a virtual stadium in The Sandbox from 24 October to 14 November to celebrate the long-awaited return of the Hong Kong Sevens.

According to the announcement, “the public will be able to immerse themselves in rugby through six exciting quests that will take place in different locations around the stadium, comprising action-packed challenges, engaging mini-games and educational quizzes related to the sport.”

HSBC’s metaverse strategy also features a thematic fund for rich Asian clients, announced in April.

Several other financial institutions have followed suit with their own thematic products including Franklin Templeton, Fidelity, and First Trust. They are all looking to be part of the burgeoning metaverse industry tipped to hit a market value of $5 trillion by 2030.

While technology companies have targeted web3 infrastructure, hardware and software among other tech-heavy products as their preferred verticals, banks are looking at the more diversified investment options like exchange-traded funds (ETFs) and thematic funds, as well as, metaverse experiences.

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