Quick take:
- DBS has launched a metaverse experience to highlight global food waste.
- The Singaporean state-backed bank has unveiled the DBS Better World a gamified experience that showcases how virtual space can be leveraged as a force for good.
- Players complete a series of Businesses for Impact activities that the DBS Foundation supports.
DBS has unveiled its gamified metaverse experience focusing on the eradication of global food waste. The state-backed Singaporean bank has launched the DBS Better World game, which showcases how virtual space can be leveraged as a force for good.
According to a statement from Karen Ngui of the group’s strategic marketing and communications department, players will be able to explore the virtual space in a number of ways including some that can trigger real-world impact.
Users will complete a series of Businesses for Impact activities that the DBS Foundation (DBS bank’s charitable arm) supports.
DBS bank is backed by the Singaporean sovereign wealth fund Temasek, which holds nearly 29% of the shares, with the second-biggest shareholder being the US fund manager The Vanguard Group with 2.33%.
DBS said it will also be creating real-world implications when players engage in the metaverse, with players based in Singapore receiving extra rewards that can be redeemed by scanning a QR code accessible via DBS PayLah, the country’s version of the Uber app.
“There will also possibly be virtual tokens that players will be able to use to trigger real-world action such as the bank possibly planting trees in real life,” said Ngui.
“DBS believes that it is possible to leverage the metaverse as a force for good. It can be harnessed as an interactive platform to increase awareness of important ESG issues and creatively spotlight those who are finding innovative ways to address them,” she said.
The metaverse has experienced a significant slowdown in the past 12 months, making it relatively tricky for those looking to use it for commercial purposes. However, it looks like some companies have more ways of leveraging the technology to make an impact on the world.
DBS thinks the metaverse can be used to reach out to a whole new segment of the population such as the young and those young at heart, while at the same time maintaining its principles of making real impact on the world.
“Banking is about real things and real people, so the bank wanted to use the metaverse to make real impact,” she said:
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