The metaverse continues to attract attention from mainstream entities. DBS, the top-tier Asian bank, is the latest to get in on the action. Their partnership with The Sandbox will help showcase ESG ideas and initiatives in the metaverse.
DBS Explores The Metaverse
It is intriguing to see how established financial entities want to establish a presence in the metaverse. Although it remains unclear if that effort pays off, DBS has high expectations for the future virtual world. Following the purchase of a 3×3 plot of virtual land in The Sandbox, the bank will establish DBS BetterWorld. It will serve as a virtual representation of the bank’s efforts to build a sustainable world.
Moreover, the Asian bank will leverage BetterWorld to profile social entrepreneurs in Asia, focusing on innovative business models to facilitate a positive impact. In addition, the virtual land and production of DBS BetterWorld will be entirely carbon neutral. Few people would consider the metaverse as a way to fuel climate change, yet it offers unlimited possibilities and potential.
DBS CEO Piyush Gupta adds:
“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.”
It is another big step for the metaverse and the concepts it can convey. Many see this industry as a speculative opportunity to flip NFTs, although there is much more to this space. Efforts by DBS and other brands confirm there is tremendous potential, although it will take a forward-thinking approach to tap into new ideas and opportunities.