The hype of the Metaverse hasn’t faded away. New companies, banks, and institutions are exploring this new digital world. Ford is one such company that recently showed intent to enter the metaverse. And now, the Asian bank DBS has partnered with Sandbox as it joins the metaverse. DBS is the largest Southeast Asian bank which makes it quite a big deal for the industry.
DBS in the metaverse
The largest bank in Southeast Asia is planning to build a gaming experience for its users in the metaverse. Users can even earn by playing these games in the virtual world. DBS is working with Sandbox to make this interactive experience something that users will enjoy. The idea is to build a better, sustainable world, said the company. DBS has also become the first Singaporean bank to partner with Sandbox.
The bank reported that they are going to acquire a 3×3 virtual land where DBS’s virtual world will be developed. The CEO of DBS Hong Kong said, “The metaverse presents exciting opportunities to redefine how we live, work and engage with each other.” He also added that their developers are going to experiment a lot with the metaverse and bring something new.
The main CEO of DBS, Piyush Gupta, said they believe that blockchain and AI have the potential to bring a change in the world of finance. These technologies will drive the next decade of innovation, so it makes sense why DBS is also joining the Metaverse. Even though I am not very sure of it, the virtual world can change the way companies and customers interact with each other.
The crypto bear market hasn’t slowed adoption
If you take a look at the current data, institutional investors, retailers, and companies, everyone is adopting cryptocurrencies at a solid pace. Bank of Russia recently announced that they are going to use crypto for cross-border payments. The International Monetary Fund also said that crypto is a good hedge against weaker currencies. Microstrategy has also been planning to buy $500 M in bitcoin by selling their stocks. Transaction volumes have also skyrocketed to €5.6 billion in h1 2022.
What are your thoughts as the Asian bank DBS joins the Metaverse? And do you think Metaverse could change the way companies and users interact? Let us know in the comments below. And, if you found our content informative, do share it with your family and friends.
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