HSBC buys virtual plot of land

HSBC has marked its foray into the metaverse, securing a plot of virtual real estate in an online gaming space called The Sandbox for an undisclosed sum.

The digital push will enable HSBC to engage with sports, e-sports and gaming fans via its slice of turf in The Sandbox, a virtual space majority-owned by Hong Kong-based Animoca Brands.

Its venture into the virtual world comes as the British-based lender slashes its footprint in the real world, announcing on Tuesday it would cut a further 69 branches in Britain as its customers move online.