The UK-based multinational banking and financial services company said that its virtual land for the Hong Kong branch will be located in The Sandbox's Mega-City district.

The Sandbox is a subsidiary of Hong Kong-based Animoca Brands.

Standard Chartered said that the plan to enter The Sandbox metaverse is to experiment and develop immersive experiences for its customers and attract creatives and sports enthusiasts.

Mary Huen, Chief Executive of Standard Chartered in Hong Kong said in a statement “having acquired virtual land in Mega City, a natural choice for the Bank given its distinctive Hong Kong theme, perfectly fits with our promise of strengthening our continued presence in Hong Kong, whether physical or virtual”.

The Sandbox announced in January that it has created Mega-City — a cultural hub — following a successful partnership with multiple Hong Kong partners from various sectors.

It said that the partners joined The Sandbox's virtual real estate by acquiring LAND NFTs similar to the one secured by Regal Hotels in the open metaverse.

Until now, The Sandbox has secured over 165 partnerships, including Adidas, Snoop Dogg, The Walking Dead, South China Morning Post, The Smurfs, Care Bears, Atari, CryptoKitties, Shaun the Sheep, Mcdull, and Hanjin Tan, to build a fun, creative play-to-earn platform that offers virtual worlds and game experiences owned and created by players.

Other prominent partners include Hong Kong tycoon Adrian Cheng, alternative investing leader Sun Hung Kai & Co, professional services firm PwC Hong Kong, blockchain-related investment and asset management company