A popular financial services provider group in Asia identified as DBS has partnered with The Sandbox. DBS confirmed the collaboration today via an announcement on its official webpage. As revealed, The Sandbox would assist DBS in creating a “DBS BetterWorld” on Metaverse. Accordingly, the project aims to establish an “interactive metaverse experience showcasing the importance of building a better, more sustainable world and inviting others to come along.”
Notably, the collaboration is a pace-setting one. For The Sandbox, it further highlights the expanding outreach of the Metaverse on the global stage. Meanwhile, DBS has emerged as the first Singapore firm to bag a partnership agreement with The Sandbox. Similarly, DSB will become the first banking services provider in Singapore to venture into the Metaverse. The latest development marks the beginning of DBS’s adventure into exploring the opportunities embedded in Web 3.0.
Purpose of the project
DBS aims that the partnership would help advance its digital services to customers while ensuring they benefit from the initiative. Also, the financial services provider will purchase a parcel of land on the Metaverse. The announcement describes the portion of the land as a unit from a virtual estate in The Sandbox Metaverse. In an attempt to develop the portion of Land for good use, DBS disclosed that it would engage in more collaborations. Some of the targetted partners include firms from Governmental bodies, Businesses, Technological firms, and others.
Furthermore, DBS is willing to explore numerous opportunities to showcase its Metaverse project with LiveBetter. The LiveBetter is a virtual inaugurated by DBS last year. The platform exists to implore customers to live a more eco-conscious life. Some of the services the platform offers include investment opportunities, eco-friendly advice, donation channels, and others.
Opinion of top officials from DBS and The Sandbox
However, prominent officials from the DBS have reacted to the latest development. The CEO of DBS, Piyush Gupta, divulged that digital advancement had driven many remarkable changes in the world of Finance. Gupta believes that Metaverse technology is still developing, despite being at the development stage, the CEO said it could be vital in revamping the way banks interact with their clients.
Another top official of DBS also reflected on the collaboration. The CEO of the firm in Asia, Sebastian Paredes, said that Metaverse offers the opportunity to redefine how people live, work, and interact with one another. Paredes opined that the partnership would suit the younger populace of his firm’s community.
The COO and Co-Founder of The Sandbox, Sebastian Borget, expressed excitement at the latest innovation. The co-founder didn’t hesitate to send welcoming greetings to DBS while sharing his opinion. Borget added that The Sandbox is willing to maintain an excellent relationship towards ensuring that the firm finds its feet in the metaverse space.