According to a September 9 announcement, DBS, one of the top financial service providers in Asia, is getting ready to team up with gaming titan Sandbox to introduce the “DBS Better World,” a virtual metaverse experience.
DBS is the first Singapore-based bank to crack a deal with Sandbox
DBS is the first Singaporean bank to sign a contract with Sandbox, according to the official announcement. With its entry into Web3 and the Metaverse, the platform hopes to examine the plethora of opportunities the market currently offers.
The project, which aims to demonstrate how Metaverse activities can be used as a “force for good,” is described as an “interactive metaverse experience showcasing the importance of building a better, more sustainable world.” In order to broaden its user base and guarantee that the bank’s users get the most out of it, it also incorporates web3.
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.
Piyush Gupta, CEO of the platform stated
The statement went on to say that the bank would also buy carbon offsets to make the production and land on DBS Better World carbon neutral.
Sebastian Borget, CEO of The Sandbox, added that the company’s collaboration with the bank was a “first step towards creating a SingaporeVerse,” which he specifically defined as a location on the digital map that would showcase the “culture of Singapore in the Metaverse.”
DBS bank, founded in 1968, has grown to become one of the top Asian banking and financial institutions, providing customers with a range of unique services. With $501 billion in assets as of December 2019, its is one of the biggest banks in Asia and the largest bank by assets in Southeast Asia.