Ghandeng Sandbox, Bank DBS Falls To Metaverse

Bank DBS cooperates with Sandbox for the development of the metaverse financial institutions. (DBS)

JAKARTA One of the largest banks in Singapore, DBS, has recently reportedly plunged into the metaverse. DBS announced cooperation with leading metaverse development firm The Sandbox.

The partnership is aimed at designing an interactive metaverse experience. This is part of the DBS roadmap in expanding Web3 exploration for its consumers.

In an official bank announcement, DBS BetterWorld aims to highlight the importance of building a better and more sustainable world, and inviting others to participate. As part of the deal, DBS plans to acquire a 3×3 digital real estate in the metaverse The Sandbox - LAND which will be developed with immersive elements.

According to the CEO of DBS, Piyash Gupta, metaverse technology can fundamentally change the way banks interact with their customers and communities.

Our partnership with The Sandbox and Animoca Brands marked the start of an interesting collaboration as we pushed the boundaries of what might happen in the metaverse, Gupta said, quoted by CryptoPotato.

"We also hope to use it as an additional innovative platform to spread news about important ESG issues and highlight communities and partners who do a good job of overcoming them," he added.

In addition, the DBS bank also revealed its plans to cooperate with various groups, including the government, society, businesses, and technology spaces to explore opportunities to feature DBS BetterWorld with digital platforms recently released, LiveBetter.

This DBS move is aimed at advancing a more aware of the environment among consumers. DBS also ensures that the development of DBS BetterWorld will be carbon neutral.

This partnership comes just a day after The Sandbox's Instagram profile was hacked. Reports show that the attacker tried to steal the NFT Bored Ape Yacht Club from several users on social media platforms.

After successfully passing the company's two-factor authentication (2FA) and other security measures, the hackers changed the profile website URL to promote fake giveaways. However, not long after, the Instagram account had recovered as before.