DBS, a leading financial services group in Asia, announced a partnership with The Sandbox, a leading decentralised gaming virtual world and a subsidiary of Animoca Brands, to create DBS BetterWorld, an interactive metaverse experience showcasing the importance of building a better, more sustainable world, and inviting others to come alongside.
Metaverse technology, while still evolving, could also fundamentally change the way banks interact with customers and communities. Given the speed of change, experimenting and learning-by-doing enable us to best test the potential of various technologies.
Piyush Gupta, CEO of DBSThe partnership makes DBS the first Singapore company to seal a partnership with The Sandbox and the first bank in Singapore to make a foray into the metaverse. This also marks a new milestone in DBS’ journey to continually explore the potential of Web 3.0 opportunities to benefit its customers and the broader community.
Under the partnership, DBS will acquire a 3x3 plot of LAND – a unit of virtual real estate in The Sandbox metaverse – which will be developed with immersive elements.
Piyush Gupta, CEO of DBS, said, “Over the last decade, the biggest changes in the world of finance have been catalysed by digital advancements. In the coming decade, driven by new technologies such as artificial intelligence and blockchain, these shifts have the potential to be even more profound. Metaverse technology, while still evolving, could also fundamentally change the way banks interact with customers and communities. Given the speed of change, experimenting and learning-by-doing enable us to best test the potential of various technologies. Our partnership with The Sandbox and Animoca Brands marks the start of an exciting collaboration as we push the boundaries of what is possible in the metaverse. We also look forward to harnessing it as an additional innovative platform to spread the word on important ESG issues and to shine a spotlight on communities and partners doing good work to address them.”
