AXA France, the country's largest insurer, has become the first player in the insurance and banking sector to enter the Metaverse with the launch of its "Axadia" meta-gaming experience in The Sandbox. The move is seen as significant because the Metaverse is a potentially huge market, estimated to be worth $5 trillion by the end of the decade, and because other companies have begun to enter the space. Sygnum Bank, for example, opened a branch on New York's virtual Times Square in September 2022, while Julius Baer has offered a game on the Roblox platform to attract tech talent.
Visitors to Axadia can explore several floors, each with a different theme. The recruitment area presents players with tests of resilience and courage, while the innovation space is designed for collaboration. The rooftop adventure showcases AXA's commitments to society and the environment. There is also a museum where visitors can learn about the history of the company.
At the end of the experience, lucky adventurers can discover a secret level and obtain an AXA non-fungible token (NFT) in the form of a shield, in tribute to the mission of insurers. At the end of the Sandbox season, 25 participants will be randomly selected to keep their NFT AXA Shield in their wallet. In addition, if 10,000 participants complete the Axadia experience by March 1, the AXA Hearts in Action association will donate 10,000 euros to the Emmaues Connect association, which fights to deter digital and social exclusion of the most vulnerable people.
AXA France CEO Patrick Cohen said, "Being the number one insurer in France requires us to remain a pioneer in technological innovation and therefore to explore the new worlds in which the future of our sector may be played out. We continue to learn from those who are building and implementing the technologies of tomorrow. With the launch of AXADIA, our parcel of The Sandbox metaverse, we are taking a new step in learning about this new world and understanding its challenges."
The Metaverse is a virtual world that exists parallel to the physical world, with its own economy, culture, and society. It is created using virtual reality and augmented reality technologies and can be accessed through a variety of devices, including computers, smartphones, and head-mounted displays. The Metaverse is still in its early stages, but it has already attracted significant interest from businesses, investors, and consumers.
The Metaverse is seen as potentially transformative because it offers new opportunities for creativity, commerce, and social interaction. For businesses, it represents a new frontier for marketing, advertising, and customer engagement. Companies that enter the Metaverse early can establish a presence and gain a competitive advantage over those that are slow to adopt.
For consumers, the Metaverse offers new ways to connect with others and to explore new worlds. It can be used for entertainment, education, and personal growth. As the Metaverse grows, it is likely to become an increasingly important part of people's lives, just as the internet and social media have become.
AXA France's entry into the Metaverse with its "Axadia" experience is significant because it shows that companies in the insurance and banking sector are beginning to take the Metaverse seriously. The Metaverse is a potentially huge market, and companies that enter early can gain a competitive advantage. For consumers, the Metaverse offers new opportunities for creativity, commerce, and social interaction. As the Metaverse continues to grow, it will be interesting to see how it evolves and what new opportunities it brings.