Singapore bank DBS will launch an environmental project in the metaverse

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Singapore-headquartered bank DBS is set to partner with gaming giant Sandbox to launch the DBS Better World virtual metaverse.

The joint project is positioned by DBC as“an interactive metaverse experience demonstrating the importance of building a better and more sustainable virtual world by implementing Web3 to expand its base and help bank users.”

The collaboration aims to explore the wide range of opportunities currently available to the metaverse industry. Credit organisation
will acquire a 3x3 plot of land in the Sandbox virtual world to create “an immersive experience for its users.”  

DBS CEO Piyush Gupta assured that the project is important for improving customer interaction:

“Metaverse technology can fundamentallychange the way banks interact with customers and communities. We look forward to using the project as an additional means of spreading awareness about important environmental, social and cultural issues,” he said.

Gupta added that DBS will buycarbon offsets to ensure DBS Better World operates carbon neutrally. Sandbox CEO Sebastian Borget said DBS Better World is "the first step towards creating SingaporeVerse", a virtual neighborhood highlighting Singapore's distinctive "culture in metaverses".

Recently, automotive giant Renault signed a partnership agreement with The Sandbox metaverse.