Singapore’s DBS Inks Partnership With The Sandbox

DBS, Singapore’s largest bank, announced a partnership to The Sandbox, an Ethereum-based gaming platform, to create an interactive metaverse experience called DBS BetterWorld. This is part of DBS’s wider roadmap to explore Web 3 opportunities with its customers.

This latest deal is the first Singaporean entity that has partnered with the Animoca Brands subsidiary. It joins DBS’ ambitious “SingaporeVerse”, a virtual neighborhood that aims to bring the culture and history of the city-state to the metaverse.

DBS Partners with The Sandbox

According to the official press release, DBS BetterWorld plans to promote the importance of “building better, more sustainable worlds” and invite others to join. DBS will acquire a 3×3 piece of digital real estate in The Sandbox’s Metaverse, LAND, which will be enhanced with immersive elements.

DBS CEO Piyush Gupta stated that the metaverse technology could transform the way banks interact and collaborate with their customers and communities. He stated that,

“Our partnership with The Sandbox & Animoca Brands marks a beginning of an exciting collaboration as it pushes the boundaries of what’s possible in the metaverse. It will also be used as an innovative platform to promote important ESG issues, and shine a light on partners and communities doing great work to address them.

It also stated that it will work with partners from the community, government, and technology sectors. The group will also explore opportunities to show DBS BetterWorld on the newly launched digital platform, LiveBetter. Its goal is to encourage eco-conscious living in its customers.

DBS will purchase carbon offsets as part of the partnership to ensure that DBS BetterWorld’s land and production are carbon neutral.

The Sandbox’s Social Compromise

The announcement comes just one day after The Sandbox’s Instagram account was hacked. According to reports, the attackers attempted to steal Bored Ape Yacht Club NFTs. They also tried to steal them from other users of the social media platform.

The hackers managed to bypass the company’s 2-factor authentication (2FA), and other security measures. They changed the URL of the profile’s website to promote the fake giveaway.

Recovered Instagram account. Our account was used by the hacker to rent Bored Apes Yacht Club NFTs. We will never ask for DMs and have notified all users. https://t.co/1DRFR3JlIq pic.twitter.com/CKQWfVBTNF

— Sebastien

(@borgetsebastien September 8, 2022

The first CryptoPotato article was titled “Singapore’s DBS Inks Partnership with The Sandbox”

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Marla Brooks – Financial Analysis My name is Marla Brooks, and I am the mainstream behind the”observednews.com”  for the powerful and most delicate insights into the latest activities in the financial analysis category. I started my journey as an independent financial consultant. I had approximately nine years of experience in this field. I am free soul so; my passion for exploring the world has taken me to the nations across the globe and given me the chance to report for a portion of the best news associations. Currently, I am a full-time editor as experienced in finance and started to use my abilities.

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