Singapore’s DBS Bank Dives Into Metaverse for Social Good

DBS Bank, Singapore’s largest bank, today revealed the next phase of its metaverse project – a virtual world dubbed “DBS BetterWorld” aimed at driving social impact through gamification.

Slated to launch later this year, BetterWorld will immerse users in interactive adventures centered around food sustainability. Players will complete activities inspired by real-world businesses backed by the DBS Foundation, which seeks to create social good through various initiatives.

This represents the bank’s latest move into the metaverse realm after acquiring virtual real estate last year in The Sandbox, one of the largest blockchain-based virtual worlds. BetterWorld will debut in The Sandbox once Alpha Season 4 opens up to the public.

DBS is not the only major financial player staking its claim in the metaverse. HSBC recently bought land in The Sandbox as well, hoping to foster connections with gaming and esports audiences.

With these efforts, banks are signaling strong ambitions to harness the metaverse and position themselves at the forefront of financial innovation. DBS’s highlighting of social impact indicates metaverse experiences can potentially drive positive change, not just entertainment.

As virtual worlds like The Sandbox continue maturing, expect more real-world brands to follow DBS and HSBC in offering immersive digital experiences aimed at engaging customers and communities in new ways. Banks’ early moves may provide a glimpse into the mainstream business potential of metaverse technology.