trade now
BlockchainCrypto BankingCryptocurrencyMetaverseNewsNFT

Major Financial Services Firm DBS Teams Up With The Sandbox

DBS, which is an Asian group for financial services based in Singapore, declared a collaboration with SandBox ($SAND), a virtual world powered by Ethereum as well as considered a sub-branch of Animoca Brands. Binance Research defined SandBox previously in 2020’s August. As per the research arm of the well-known crypto exchange, The SandBox is considered a virtual world, created on the blockchain of Ethereum.

Top Bank of Singapore Joins Forces with The Sandbox

It, according to Binance Research, provides the opportunity to monetize the players’ gaming experiences. There are three uses of The SAND token. These take into account governance, staking, and the transaction of value. It provides the opportunity for the players to develop digital assets in NFT form. After that, they can be uploaded to the non-fungible tokens marketplace, with players having permission to utilize the Game Maker to integrate them into games.

The goal of the respective collaboration is to form a cooperative experience of the Metaverse world under the project named “DBS BetterWorld.” As mentioned in the press release, the collaboration makes DBS the initial company working within the Singaporean jurisdiction to have collaborated with The Sandbox. In addition to this, it has occupied the place of the initial bank in Singapore to get into the field of the Metaverse.

📰  Report: Sales Of Bitcoin Mining Rigs Increased Dramatically In Russia In Q4 2022

DBS Bank Acquired a 3×3 Piece of Virtual Land in the Metaverse of The Sandbox

As mentioned by DBS, the venue will obtain a LAND plot of 3×3 length as a real estate of a virtual kind in the Metaverse of The Sandbox.  DBS’ CEO, Piyush Gupta, stated that during the former decade, digital advancements have been driven by the drastic changes that occurred around the globe. According to the executive, blockchain technology, artificial intelligence along with other innovative technologies will drive advancement in the impending decade.

The respective advancements, in his words, are potentially more vast-ranging. Gupta moved on to claim that the role of the Metaverse technology will be quite significant in this evolution, even though it is in its evolving phase presently. As he puts it, the method through which the banks communicate with communities and consumers will be modified on its core level by the Metaverse space.

On 6th September, a report by Financial Times pointed out that the banking giant intends to have expansion in the digital exchange thereof as well as to provide services to nearly 300,000 rich consumers living in the Asian region.

📰  Ethereum Price Gets Boring Amid Spiking wETH Bankruptcy Concerns

Tokenhell.com produces top quality content exposure for cryptocurrency and blockchain companies and startups. We have provided brand exposure for thousands of companies to date and you can be one of them too! All of our clients appreciate our value / pricing ratio. Contact us if you have any questions: info@tokenhell.com. Cryptocurrencies and Digital tokens are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by our authors (namely Crypto Cable , Sponsored Articles and Press Release content) and the views expressed in these types of posts do not reflect the views of this website. Tokenhell is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. Read full terms and conditions / disclaimer.

📰  NYDIG Co-Founder Warns Against Investment In Non-Bitcoin Assets

Mubashar Nawaz (United Arab Emirates)

Mubashar Nawaz is an experienced crypto writer working for Tokenhell. Having passion for writing, he covers news articles from blockchain to cryptocurrency.

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
Close
Skip to content