<p>DBS, Singapore’s largest bank, has unveiled an innovative concept within the metaverse for its DBS BetterWorld initiative, focusing on the critical issue of global food waste.</p><p>In a<a href="https://www.dbs.com/newsroom/DBS_unveils_metaverse_adventure_on_DBS_BetterWorld_to_spotlight_global_food_waste_challenge" rel="noopener noreferrer nofollow"> press release</a> which it published on Thursday, the bank revealed that this “gamified adventure” is designed to showcase the strategies that Businesses for Impact are employing to tackle the ever-pressing global food waste challenge. Businesses for Impact are an initiative driven by the DBS Foundation that champions for-profit enterprises that promote innovative solutions to effect positive environmental or social change.</p><h2 id="header-0">Tackling a global issue</h2><p>Data from the United Nations suggests that a staggering 1.3 billion tons of food, equivalent to one-third of the world’s total food production, goes to waste each year. Within this conceptual metaverse, players are tasked with a series of engaging activities inspired by five businesses supported by the DBS Foundation. These entities offer unique approaches to curbing food waste.</p><h2 id="header-1">Project collaboration</h2><p>Singapore-headquartered brewery business Brewerkz is focused on up-cycling brewers’ spent grains as part of the project. Breer, a Hong Kong startup transforming surplus bread into craft beer is also participating. The project also sees participation from another Hong Kong-based business, GreenPrice, which specializes in selling food close to or just past their best-before dates.</p><p>Edible Garden City, a start-up that aims to make urban farming and edible gardening more accessible in cities, and Rooftop Republic, which converts underutilized spaces into urban farms, complete the list of five “Businesses for Impact” relative to this particular project.</p><h2 id="header-2">Metaverse ESG potential</h2><p>Karen Ngui, Head of Group Strategic Marketing and Communications at DBS and a board member of DBS Foundation, emphasized the metaverse’s potential to enhance awareness and address crucial Environmental, Social, and Governance (ESG) concerns.</p><p>Ngui remarked: “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.” She added that as metaverse technologies mature, they aspire to bridge virtual initiatives with tangible real-world impacts.</p><p>Players based in Singapore will be rewarded with exclusive incentives that can be redeemed through special QR codes accessible via DBS PayLah!. This integration of real-world rewards into the metaverse experience adds a new layer of interaction and excitement for participants.</p><h2 id="header-3">Embracing the metaverse</h2><p>This is not DBS’ first foray into the metaverse. It has<a href="https://medium.com/&#64;coinness.gl/the-sandbox-adds-singapore-virtual-neighborhood-lion-city-305f9e3b93d0" rel="noopener noreferrer nofollow"> collaborated</a> with The Sandbox metaverse platform previously, participating in its Lion City initiative, a virtual metaverse neighborhood modeled on Singapore. Work on BetterWorld has been<a href="https://medium.com/&#64;coinness.gl/singapore-bank-opens-branch-in-the-metaverse-e3b781e3c78d" rel="noopener noreferrer nofollow"> ongoing</a> in conjunction with The Sandbox development team since last year.</p><p>DBS’ creative endeavor within the metaverse not only sheds light on the urgent issue of global food waste but also demonstrates how technology and gaming can be harnessed to educate, raise awareness, and drive positive real-world change.</p><p>As the metaverse continues to evolve, DBS’ initiative will likely serve to inspire other institutions to leverage the metaverse for various initiatives with the objective of achieving real-world impact.</p>

DBS Introduces Metaverse Game to Tackle Global Food Waste

Table of Contents

CoinNess Global

Other articles published on Aug 25, 2023

Shibarium's Layer-2 Network Prepares for Public Launch

Visa and Mastercard Halt Binance Partnerships Over Regulatory Concerns!

Price analysis 8/25: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, MATIC, TON

Hashkey Gains Approval to Open Trading Services for Individuals in Hong Kong!

DraftKings Inc: DKNG Stock to Sustain at $30 Mark – Analysts!

MetaTrust Labs Announces Strategic Partnership with BingX

Join our free newsletter for daily crypto updates!