This verse is used out of context.
The author uses nearly 30 terms loosely to identify the kingdom of God. Such as 'the promise', the day, the good things coming, the things hoped for, etc.
He also uses a pattern of speaking of a shadow versus a reality in order to show that the things the Hebrews lost by becoming Christians were only shadows of a greater reality in Christ.
Heb 11:1 cannot be decoupled from Hen 10:1 though many do it.
He 10:1 ¶ For the law having a shadow of good things to come, ... Heb 11:1 ¶ Now faith is the substance (reality) of things hoped for, ...
The law was just a shadow of the kingdom of heaven and faith is the reality of it.
He then goes on and lists all those who built the kingdom by their faith, becoming building blocks of which Christ is the corner.
Those listed as being faithful were obedient to God in spite of ridicule, persecution and death because they believed God to be faithful to the promise he had made.
By this understanding, faith is obedience to God in spite of ridicule, persecution and death because God is faithful to the promise he had made.