DBS Bank Jumps Into The Sandbox Metaverse

DBS, a well-known provider of financial services in Asia, has partnered with The Sandbox to develop DBS BetterWorld, an immersive metaverse experience.

According to a statement from DBS, the bank is the first in Singapore to join the metaverse and the first corporate to cooperate with The Sandbox, a division of Animoca Brands in Hong Kong.

Piyush Gupta, chief executive officer of the bank, said in the statement:

“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.”

In The Sandbox metaverse, DBS stated that it will purchase a 3×3 plot of land or a virtual real estate unit. The land and production on DBS BetterWorld will be carbon neutral thanks to a partnership between the bank and The Sandbox to purchase carbon offsets.

Sebastien Borget, COO and Co-Founder of The Sandbox, said in the statement:

“We welcome DBS to The Sandbox as the first bank in Singapore to step into the open metaverse and join our efforts to create the SingaporeVerse, a neighbourhood on our virtual map that will bring the culture of Singapore to life in the metaverse.”

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Harold

CoinCu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.