DBS announced a partnership with The Sandbox, a virtual world where players can build, own, and monetize their gaming experiences on the Ethereum blockchain. The aim of the partnership is to create DBS Better World, an interactive metaverse experience highlighting the importance of building a better, more sustainable world, and inviting others to come alongside. The metaverse presents exciting opportunities to redefine how we live, work, and engage with each other. Over the last decade, the biggest changes in the world of finance have been catalyzed by digital advancements. In the coming decade, driven by modern technologies such as artificial intelligence and blockchain, these shifts have the potential to be even more profound.
Other banks and investment firms that have established a presence in the metaverse include Standard Chartered Bank, JPMorgan, and Fidelity Investments. In August, Bank of England’s analysts said crypto assets could have important roles within the metaverse. Earlier this year, Goldman Sachs said the metaverse could be an $8 trillion opportunity. McKinsey & Company expects the metaverse to generate $5 trillion by 2030. Meanwhile, Citi has predicted that the metaverse economy could grow to between $8 trillion and $13 trillion by 2030.