DBS Bank has recently unveiled a new game within The Sandbox metaverse titled “DBS Betterworld.” The game’s primary objective is to spotlight the significant issue of global food waste.
Karen Ngui, Head of Group Strategic Marketing and Communications at DBS, shared her optimistic outlook on the potential of metaverses. She stated, “Leveraging the metaverse can bring about positive change. It serves as an engaging platform to raise ESG awareness and highlight inventive solutions to these concerns. With the advancement of metaverse technologies, we’re hopeful that virtual efforts can lead to tangible real-world benefits.”
Addressing the Food Waste Issue
Data from the United Nations shows that nearly one-third of all food produced is lost or goes to waste yearly. Recognizing the gravity of this issue, DBS initiated a program in 2020. By the close of last year, their efforts had reduced 2,000 tonnes of food waste through measures such as waste reduction, food recycling, and redistribution.
Gamifying the Cause
In DBS’s metaverse venture, five organizations from Hong Kong and Singapore, known for their significant impact on reducing food waste, have been spotlighted. These organizations have taken innovative approaches, like brewing beer using leftover bread, selling nearly expired food at discounted rates to the underprivileged, and promoting urban farming. Each of these initiatives has been transformed into a game challenge within The Sandbox. Enthusiasts are eagerly awaiting the release of The Sandbox’s Alpha Season 4 to dive into the game.
Banking Sector’s Foray into Metaverses
DBS isn’t alone in exploring the metaverse realm. While many banks have established their presence, DBS stands out with its unique approach. Interestingly, a pattern seems to be emerging. Asian-centric financial institutions, like HSBC, SCB 10X, and Standard Chartered, appear to prefer The Sandbox. In contrast, western counterparts like JP Morgan, Caixabank, Fidelity, and Mastercard have opted for Decentraland. Adding to this pattern, various Japanese entities have set up the Japan Metaverse Economic Zone (JMEZ).
This innovative approach by DBS emphasizes the potential of the virtual world to bring about genuine, impactful change in the real one. The world will be closely watching as DBS uses the power of gaming to drive positive change.