Singapore-Based DBS Bank Partners With The Sandbox To Launch A Virtual DBS Better

DBS bank has announced its partnership with the Sandbox Metaverse
Under the said partnership, DBS will be purchasing a 3×3 LAND plot to build an exclusive metaversal experience dubbed the DBS BetterWorld

In an announcement made on September 9, DBS, one of the leading financial service providers in Asia is all set to collaborate with the gaming virtual giant Sandbox to launch a virtual metaverse experience dubbed the “DBS Better World. “

DBS X The Sandbox

The leading Singaporean multinational banking and financial service corporation DBS has announced that the firm is entering into a partnership with the virtual gaming platform Sandbox to launch “DBS better world.”

Described as an “interactive metaverse experience showcasing the importance of building a better, more sustainable world,” the project intends to portray how Metaverse activities can be used as a “force for good,” alongside integrating web3 to broaden its base and help DBS users derive maximum benefit from it.

Per the official announcement, DBS is the first Singaporean bank to ink a deal with Sandbox. The platform’s foray into Web3 and Metaverse intends to explore the vast array of opportunities that the sector currently possesses.

Under the following partnership, DBS will be acquiring a 3×3 plot of LAND in the sandbox to build an “immersive experience for its user base. “

Speaking about the DBS’ partnership with Sandbox, Piyush Gupta, CEO of the platform stated:

“…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.” Gupta later shared

The statement further added how DBS will also be purchasing carbon offsets such that the land and production on DBS Better World will be carbon neutral.

The Sandbox CEO Sebastian Borget further described the firm’s partnership with DBS as a “first step towards creating a SingaporeVerse,” exclusively defined as a neighborhood on the virtual map that will highlight the “culture of Singapore in the Metaverse.”

“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 neighborhood on our virtual map that will bring the culture of Singapore to life in the metaverse in a very engaging, equitable, inclusive way that is open to all. ESG issues are important to us, and we look forward to collaborating on an experience that invites our audience to make a positive global impact, to discover the creative possibilities of our platform, and maybe to find their next life-changing opportunity in the metaverse.” Borget later added

Launched in 1968, DBS bank has emerged as one of the leading Asian banking and financial institutions offering a set of diverse services to clients. DBS is the largest bank in terms of assets in Southeast Asia and is counted as one of the biggest banks in Asia with assets amounting to $501 billion as of December 2019.

Image: DBS bank/Twitter