Asia’s Largest Bank, DBS Entered The Sandbox Metaverse

The largest lender in Southeast Asia, DBS Bank Ltd., announced a partnership with blockchain-based metaverse gaming platform The Sandbox to develop new services in the 3D virtual environment that employs digital avatars. Hey #sandfam, DBS BetterWorld is coming to town. @TheSandboxGame #ForABetterWorld pic.twitter.com/b1H4F6xub9 — DBS Bank (@dbsbank) September 9, 2022 According to a statement from DBS, the bank is the first in Singapore to join the metaverse and the first corporate to collaborate with The Sandbox, a division of Animoca Brands in Hong Kong. To investigate the potential of Web3 for the benefit of consumers, it indicated that “DBS BetterWorld” will be developed in The Sandbox. Piyush Gupta, CEO of DBS, stated that digital innovations sparked significant shifts in the finance world during the previous ten years. He stated, “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.” Joining Other Banks To Explore Opportunities DBS joins other banks in researching commercial prospects in the metaverse. When JP Morgan launched a lounge in Decentraland in February, it claimed to be the first bank in the digital world. HSBC joined The Sandbox a month later to interact with gamers and sports love...