The Sandbox and KEB Hana Bank, a South Korean commercial bank, have partnered to establish a metaverse aimed at Gen Z customers and others.
As the first bank in South Korea to start such a project, the bank’s K-verse intends to promote new events and offer limited virtual financial services. Seoul-based KEB Hana Bank provides the most foreign exchange services and products to its domestic customers.
The Metaverse is the primary way for consumers to “experience Web3,” according to Jung Kim, Deputy President of KEB Hana Bank, who also said in the statement that “This relationship can open a door for a brand-new form of service, especially for the youthful generations.”
The Sandbox Korea’s CEO, Cindy Lee, continued, “We are pleased to see KEB Hana Bank enter the metaverse and produce new forms of content. This will be the newest development in user-friendly metaverse banking services.
The announcement comes just a few days after the metaverse platform hosted a virtual location for non-fungible token (NFT) gaming for LOTTE WORLD, one of South Korea’s biggest theme parks.
Lotte World’s Vice-President of Development Division, Jaehong Lee, stated, “Through our relationship with the Sandbox, we are growing the digital content business sector of LOTTE WORLD to be a part of recent developments such as metaverse and NFT. We will keep trying different things to bring offline enjoyment to the digital world.
The information was released at the same time as Standard Chartered, a significant British banking and financial firm, declared in April that The Sandbox would serve as its Mega City metaverse marketing arena
Customers of Standard Chartered in Hong Kong had access to the site to socialize, interact with bank employees, and work on original content initiatives. and stay up to date with the most recent bank news.
Hip-hop pioneer Snoop Dogg also entered the metaverse market in December of last year with a significant launch of LAND virtual properties, early access passes, and NFT-backed content. With 67 premium plots offering early buyers rare NFTs, the superstar musician started selling a total of 122 LAND parcels.