Banking firm DBS has launched a new concept for its metaverse DBS BetterWorld where it uses gamification in the virtual space for good.
Players will enter the metaverse and will be able to roam a fantasy world created by the bank. They will complete challenges focused on sustainability and the eradication of food waste, engage with other players and be able to spot interesting and localised sights such as the Merlion and cast members from DBS' mini -series, SPARKS.
As part of the experience, players must complete a series of activities inspired by the five "Businesses for Impact" that are supported by the DBS Foundation and their unique approach to mitigating food waste. "Businesses for Impact" are non-profit enterprises that use innovative solutions to create positive social or environmental change.
Additionally, DBS will be creating real-world implications when players engage in the metaverse. Players based in Singapore will be treated to extra rewards which can be redeemed via special QR codes accessed using DBS PayLah!. There will also possibly be virtual tokens that players will be able to use to use to trigger real world action such as the bank possibly planting trees in real life, said Karen Ngui, head of group strategic marketing and communications at DBS, and a board member of the DBS Foundation who was speaking at a launch event for the virtual space.
“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," said Ngui.
"For starters, with DBS BetterWorld, we have chosen to delve into the challenges of food waste and food resilience, issues that DBS and the DBS Foundation have been championing, in a unique and engaging way. As metaverse technologies mature, we hope to create mechanisms for communities and businesses to translate the outcomes of their virtual initiatives to real world impact,” she said.
Ngui added at the event that the metaverse is also an opportunity for the bank to reach out to a whole new segment of the population such as the young and young at heart. "Gaming is a big thing and this gives us an opportunity to entertain a new group of people," she said. She went on to add that banking is about real things and real people, so the bank wanted to use the metaverse to make real impact. She said:
It's not a fun for fun's sake initiative. It's about purposeful fun that generates a real impact on the real world.
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