Banking Giant DBS Announces Metaverse Partnership With The Sandbox (SAND)

One of the leading banking firms in Asia is venturing into the metaverse with a new partnership with virtual world platform The Sandbox (SAND).

According to a new press release, multinational financial services giant DBS is collaborating with The Sandbox to create an interactive metaverse experience.

The duo will create DBS BetterWorld, which aims to highlight the importance of building a sustainable eco-friendly world. To create a virtual showcase, DBS will acquire a 3×3 parcel of LAND on The Sandbox as a part of the deal.

LANDs are customizable units of digital real estate within SAND’s metaverse that players can own as non-fungible tokens (NFTs).

Sebastian Borget, co-founder and chief operating officer of The Sandbox, notes that the virtual world platform is creating a special plot of land dubbed the “SingaporeVerse,” which aims to bring the culture of Singapore to the platform.

“We welcome DBS to The Sandbox as the first bank in Singapore to step into the open metaverse and join our efforts to create the SingaporeVerse, a neighborhood on our virtual map that will bring the culture of Singapore to life in the metaverse in a very engaging, equitable, inclusive way that is open to all.

ESG [environmental, social, and governance] issues are important to us, and we look forward to collaborating on an experience that invites our audience to make a positive global impact, to discover the creative possibilities of our platform, and maybe to find their next life-changing opportunity in the metaverse.”

News of the partnership had little impact on SAND’s price. The token is changing hands for $0.989 at time of writing, a 1.7% gain on the day.

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Featured Image: Shutterstock/Ongky Ady Widyanto