DBS, Singapore’s largest bank, has taken a bold step into the metaverse with the introduction of “DBS BetterWorld,” an engaging and interactive concept focused on the global issue of food waste. This groundbreaking “gamified adventure” aims to spotlight the efforts of Businesses for Impact, companies dedicated to both profit and positive societal and environmental contributions, in tackling the pressing challenge of worldwide food waste.
Startling statistics from the United Nations reveal that approximately one-third of the world’s food production, equivalent to a staggering 1.3 billion tonnes, goes to waste annually. DBS BetterWorld seeks to immerse players in a virtual realm where they participate in activities inspired by five visionary businesses supported by the DBS Foundation. These businesses offer innovative solutions to combat food waste:
- Brewers: Repurposing leftover brewing grains to transform food waste.
- Breer: Crafting beer from excess bread to counter waste.
- GreenPrice: Combatting food waste by selling soon-to-expire items.
- Edible Garden City: Enabling urban dwellers to cultivate their own food.
- Rooftop Republic: Converting dormant spaces into thriving urban farms.
According to the local news report, Karen Ngui, Head of Group Strategic Marketing and Communications at DBS, emphasizes the metaverse’s unique potential to raise awareness about critical Environmental, Social, and Governance (ESG) concerns. As metaverse technology evolves, the overarching goal is to seamlessly bridge virtual initiatives with real-world impacts, fostering positive change for communities and businesses alike.
Singaporean players are in for an exclusive treat, as they can unlock rewards through specialized QR codes using DBS PayLah! 2. The game is replete with delightful surprises, including appearances by beloved characters from DBS’s renowned web series, Sparks. Anticipation mounts as DBS BetterWorld is slated to launch concurrently with The Sandbox’s Alpha Season 43.
In a related development, Standard Chartered Bank in Hong Kong has made a partnership with blockchain gaming platform The Sandbox, aimed to pioneer an innovative and captivating virtual metaverse experience for users.
Last year, on September 26, 2022, Nedbank, a prominent South African financial institution, acquired a virtual village christened “Ubuntuland” within the Metaverse. Ubuntuland stands as a tribute to African culture in this digital realm. This strategic move underscores Nedbank’s commitment to providing distinctive customer experiences beyond conventional banking, realized through a collaboration with Africacare.
Companies, including banks and accounting firms, are enthusiastically adopting the metaverse. While some celebrate their milestones within this virtual dimension, others strive to spotlight their unique corporate cultures. In a world where technology and society align for the greater good, DBS BetterWorld leads the way. This innovative effort uses the metaverse to drive positive transformations.