DBS Entered The Sandbox In Order To Launch 'DBS BetterWorld.'

DBS has collaborated with The Sandbox, a decentralized gaming virtual world and Animoca Brands subsidiary, to create DBS BetterWorld, an interactive metaverse experience highlighting the importance of creating a better, more sustainable world and inviting others to join in. The transaction also represents a new milestone in DBS' journey to continuously investigate the potential of Web 3.0 opportunities to benefit its customers and the broader community.

DBS will acquire a 3x3 plot of LAND - a unit of virtual real estate in The Sandbox metaverse - as part of the partnership, which will be developed with immersive elements. According to DBS CEO Piyush Gupta, digital advancements have catalyzed the most significant changes in the world of finance over the last decade.

He went on to say that in the coming decade, driven by new technologies like artificial intelligence and blockchain, those shifts could be even more profound.

"Metaverse technology, while still evolving, could also fundamentally change the way banks interact with customers and communities," he said. “Given the speed of change, experimenting and learning-by-doing enables 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 continued.

"DBS Bank has long been recognised as one of the most innovative banks in the world for its digital banking initiatives and use of emerging technologies," said Yat Siu, co-founder and executive chairman of Animoca Brands. "We are absolutely thrilled to co-create the future of open metaverse with DBS Bank on this collaboration with our subsidiary The Sandbox."