The Metaverse concept, like The Sandbox, has received a fair amount of positive and negative attention. However, forward thinkers have not shied away from exploring Web 3.0 limits. There have been massive endorsements of futuristic technology, especially when Tech giants like Facebook embraced it and changed its name to Meta Platforms Inc.
Following these advancements, DBS, a leading financial service provider in Singapore, has announced a significant partnership with The Sandbox Metaverse and Animoca Brands. The PartnershipPartnership will oversee the creation of DBS Betterworld, which aims to explore the limit of Web 3.0 to cultivate sustainability within the Metaverse ecosystem.
The PartnershipPartnership makes DBS the first bank in Singapore to commit to the Metaverse concept. According to DBS CEO Piyush Gupta, profound developments in the world of Finance should be expected in the next decade. These changes will be significantly influenced by digital advancements such as the Metaverse technology.
The Sandbox- DBS partnership marks a huge step for both parties as they explore the limitless possibilities provided by the Metaverse technology. As part of DBS’s commitment to the PartnershipPartnership, the financial service provider will purchase a 3-by-3 plot of LAND in the Sandbox Metaverse. LAND is a virtual estate unit as represented on The Sandbox metaverse.
DBS Betterworld: How The Sandbox and DBS plan to use it
The “DBS Betterworld” is planned to be an engagement platform that aims to complement other engagement avenues. The platform will encourage visitors to join The Sandbox metaverse and interact with it to understand more about the current Environmental, Social, and Governance issues within the financial sector.
The PartnershipPartnership will ensure that DBS shows commitment to developing and improving the engagement and overall experience in the DBS Betterworld. The increased engagement and commitment to improving the Metaverse experience will essentially cultivate the growth of the technology as more explorations are made through the learn-as-you-go approach to the Metaverse that has been universally adopted.
Importance of embracing Web 3.0 in the Financial sector.
In every sector, CEO’s have learned that it pays to be ahead of the game. The Metaverse is a revolutionary technology with the incredible potential to change the world and how money flows. DBS aims to be at the top of the game as we continue learning and discovering other use cases on the Metaverse in the financial sector.
Currently, the Metaverse can be used to foster relationships with customers for more prolonged periods through engagements within the Metaverse. Such simple use cases could translate to significant benefits in the future through additional innovations within the space.
The Sandbox’s PartnershipPartnership with significant companies like DBS in Asia shows the positive potential of the Metaverse technology today and in the future. CEOs are continuing to embrace the Metaverse technology. DBS can continue to advance its three sustainability agendas through responsible banking, impact beyond banking, and responsible business practices.