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Sandbox Joins Hands With Korean Bank; Will This Pump SAND Price?


coingape.com 11 July 2022 13:05, UTC
Reading time: ~2 m

Metaverse has proved to be a very diverse opportunity for financial institutions to jump in. The Sandbox announced that KEB Hana Bank will be entering into the digital virtual world with them.

Hana Bank to launch K-verse

Hana Bank provides the largest range of foreign exchange products in South Korea. The banking institution will be seeking to expand its services in the Metaverse. However, both partners are planning to launch a different type of event marketing.

As per reports, Hana has signed an MOU with the blockchain-based metaverse platform. The bank plans to get into the projects led by The Sandbox as a global partner. This will be done in order to gain the prime spot in digital banking.

The collaboration will include building a business model. Bank will be launching a virtual branch in the virtual digital world to give out basic services and to grab coloration opportunities. Hana Financial Group will also be releasing content related to Korea in the K-verse. It will be a virtual zone for Gen Z to know more about their culture.

Sandbox price not affected by crypto crash

The virtual digital world is the way people will be experiencing Web3 and Hana Bank wants to be a part of this new trend. This partnership will open the doors for a new kind of service for young users, said So Jung Kim, Deputy President of Hana Bank

Meanwhile, the Sandbox price hasn’t dropped much during the recent market collapse. SAND prices are down by just 1% over the past 60 days. It is trading at an average price of $1.12, at the press time. Meanwhile, it is still the 2nd largest metaverse token with a market cap of over $1.4 billion.

Earlier, the Sandbox partnered with South Korea’s largest amusement park, LOTTE WORLD. They will be introducing diverse content with the development of global NFT games using IP licenses.

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