The Sandbox, the virtual metaverse where players can own land and digital content, partnered with global insurance agency AXA Hong Kong. The exciting partnership begins the first Hong Kong-based insurer partnership in the metaverse. So, with this exciting news, let’s look at some of the all-important details.
What is AXA Hong Kong?
AXA Hong Kong is an insurance company offering a wide range of insurance offers for properties, health, and life. In addition, the company offers investment and retirement solutions.
AXA Hong Kong is the perfect partner for The Sandbox due to The Sandbox’s strong roots in Hong Kong. Previously, The Sandbox has engaged with various Hong Kong artists, entertainers, and companies. However, this is a partnership, so this is completely new territory for The Sandbox (in terms of Hong Kong companies!).
A relatively modern and engaged company, AXA Hong Kong runs various events to promote its services in person. For example, the company runs an event called AXA x WONDERLAND, with various fun activities and workshops.
This event seeks to promote mental wellness and the idea of a healthier mind and healthier body. Let’s look at the company’s venture into the metaverse and its motivations.
We have partnered with @AXA Hong Kong, who will become the first HK-based insurer to enter #TheSandbox!🙌 Stay tuned for innovative & interactive spaces for their customers, where they will create the future of insurance in the #metaverse! https://t.co/9Eve7zUbl2
— The Sandbox (@TheSandboxGame) September 28, 2022
The Sandbox – New Partnership with AXA Hong Kong
Hong Kong’s prevalent role within The Sandbox has never involved a partnership, so exciting things could arise here. AXA Hong Kong has acquired a 3×3 LAND in The Sandbox, motivated to become an interactive space for customers.
This is a pretty bold move for a company and an insurance company at that, but this could be exactly what we need to introduce more people to the metaverse.
AXA Hong Kong is becoming the industry pioneer in participating in a virtual space in The Sandbox. Through their 3×3 LAND, the company aims to offer customers a fresh, modern digital experience. The partnership comes intending to pave the way for more companies in the insurance industry.
Let’s look at some statements from AXA Hong Kong and Asia staff, courtesy of The Sandbox’s Medium.
Gary Ho, Chief Technology Officer, AXA Hong Kong, and Macau, stated:
“I’m honored to announce that AXA has partnered with The Sandbox to expand our digital presence by setting foot in the metaverse. This collaboration has reflected AXA’s vision and interest to create the insurance of the future by bringing immersive experiences around sustainability, wellness, healthcare, and so much more. Stepping into the metaverse, we are thrilled to discover more captivating capabilities and use cases for AXA’s customers and the communities.”
JH Tang, Digital Transformation & Strategy Director, AXA Asia, said:
“We are proud to be the pioneer in the Hong Kong insurance industry to partner with The Sandbox. AXA Hong Kong is dedicated to connecting the world by unfolding inventive digital experiences. Stepping into the metaverse opens the door for cultural synergy and creates unlimited opportunities for us to explore the unknowns. Through our partnership, we aim to revolutionize the wellness and healthcare experiences for our customers and markets in the broader regions by continuously driving innovation and technological development.”
What Does the Partnership Mean?
You may think this is simply a partnership, and there’s nothing remotely exciting about it. At first glance, you’d probably be correct. However, looking into it properly, we can see that this partnership will pave the way for industries other than creative, media, and marketing.
Additionally, we’ve seen gaming companies such as GamerHash starting a strategic partnership with The Sandbox and Taiwanese gaming board Softstar Entertainment. Finally, we’ve seen examples of music and fashion existence in the metaverse, which are not partnerships, but they still pave the way for brands and companies in the digital ecosystem.
We think this partnership will encourage a wider group of industries to the metaverse. We’ve seen music, fashion, and gaming companies present or in partnership with The Sandbox. But, why have we not seen business-orientated companies, as they operate in the same way?
The only difference is services. If a company’s beliefs align with the beliefs of the metaverse, then what’s the harm in engaging with a brand-new audience? We’re excited to find out how this could pan out!
A Note from The Sandbox
In addition to these statements, The Sandbox issued an important statement about the new partnership. Speaking about the partnership, COO and Co-Founder of The Sandbox, Sébastien Borget, said this:
“AXA’s milestone as the first insurance company in Hong Kong to join The Sandbox is another step toward our vision of the open metaverse as a new digital economy where industries, brands, and cultures from around the world interact with players and creators for mutual benefit. We’re glad to support AXA’s commitment to being a force for good and look forward to creating shared value for our communities.”
As emphasized in Sébastien’s message, we think this development will open up a new vision and economy for many businesses. Being the first Hong Kong-based insurance partnership and the first insurance company to get involved in the metaverse, we’re gearing up to see new, unique ways of interacting with customers and audiences.