DBS BetterWorld Metaverse Releases, DBS Collaboration With The Sandbox
9/22/2022
This collaboration makes DBS the first Singaporean company to form a partnership with The Sandbox.
This collaboration makes DBS the first Singaporean company to form a partnership with The Sandbox. As well as being the first bank in Singapore to enter the world of the metaverse .
DBS Bank, as one of the leading financial services groups in Asia, announced a partnership with the leading virtual game company, Animoca Brands subsidiary, The Sandbox. The collaboration was carried out to create an metaverse called DBS BetterWorld.
This collaboration makes DBS the first Singaporean company to form a partnership with The Sandbox. As well as being the first bank in Singapore to enter the world of the metaverse .
This step also marks a new milestone in the journey of DBS as it continues to explore the potential opportunities of Web 3.0 or the third generation internet as the bank's contribution to creating a better world for customers and a wider audience.
According to DBS now is the right time to build a better and more sustainable world in an effort to invite more people to participate.
DBS CEO Piyush Gupta revealed that over the past decade, the biggest changes in the financial services industry were catalyzed by digital advances. And the next few decades will be driven by new technologies such as artificial intelligence and blockchain, potentially bringing about even greater changes.
technology Metaverse that is still developing can also fundamentally change the way banks interact with customers and society. Therefore, he believes that there is a need for experimentation while learning that will allow DBS to test the potential of various technologies as well as possible.
"Our partnership with The Sandbox and Animoca Brands marks the beginning of an exciting collaboration in which we seek to transcend the boundaries of what can be done in the metaverse . We also look forward to leveraging this as an additional innovative platform for disseminating information on environmental issues. , social, and governance (ESG) which is important and to highlight the community and partners who are doing their part in overcoming these problems," explained Piyush Gupta.
DBS aims to make DBS BetterWorld a platform to increase customer engagement in achieving sustainability goals by providing an avenue for visitors to The Sandbox to learn more about ESG issues.
For example, DBS will use this platform to profile social entrepreneurs in Asia who are making a positive impact through innovative business models.
As they have done since 2014 through the DBS Foundation, assisting more than 800 social entrepreneurs across the region to scale their businesses and have provided grants of more than SGD 10 million to nearly 100 social entrepreneurs.
In addition, DBS will work closely with governments, communities, businesses, and players in the technology sector to develop useful concepts to enrich the DBS BetterWorld experience.
customer lifestyle eco-conscious .
Through LiveBetter, customers can easily access a suite of tools to help make changes to a more sustainable way of life, including practical eco-friendly tips, channels to donate to sustainable causes, and investment opportunities in sustainability-themed financing.
In collaboration with The Sandbox, DBS will acquire a land measuring 3x3 LAND – a virtual real estate unit in metaverse which will later be developed with immersive elements.
This collaboration is also carried out as a carbon offsets action so that land and production at DBS BetterWorld will be carbon-neutral.
