DBS Unveils Metaverse Initiative to Tackle Global Food Wastage

August 24, 2023

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As part of its bank-wide Zero Food Waste (ZFW) initiative which was kickstarted in 2020, Singapore’s largest bank DBS has unveiled a metaverse game that tackles the problem of global food wastage.

The gamified adventure which is dubbed “DBS BetterWorld” is expected to go public later this year, almost at the same time when The Sandbox Alpha Season 4 would be debuted.

Metaverse Leveraged to Solve ESG Problems

The DBS BetterWorld is focused on demonstrating how virtual experiences can be utilized as a force for good.

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Notably, DBS Head of Group Strategic Marketing and Communication Karen Ngui believes that the metaverse has the ability to increase awareness as well as tackle crucial environmental, social and governance (ESG) issues of which food wastage is one of them.

Players would be required to complete a series of activities, inspired by five businesses that are supported by the DBS Foundation to reduce food wastage.

DBS-Supported Businesses Come On Board

One of these businesses is Brewerkz which is focused on upcoming brewer’s spent grains, and there is also Breer, a Hong Kong startup that convert surplus bread into brew craft beer.

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Other DBS Foundation-linked businesses are GreenPrice which is specialized in the sales of food which are close to or past their best before date; Edible Garden City focuses on making soil-based urban farming and edible gardening more accessible to city dwellers; Hong Kong-based Rooftop Republic transforms under-utilized and unconventional spaces into urban farms.

DBS in The Metaverse

Also, this is not DBS’s first dive into the metaverse as the bank had previously acquired a land in The Sandbox with the aim of developing DBS BetterWorld.

The purpose of DBS BetterWorld is to bring attention to the significance of “building a better, more sustainable world, and inviting others to come alongside.” It is also an initiative to be part of a larger roadmap to investigate Web 3.0 opportunities for the bank’s customers.

Last year, Jimmy Ng, DBS Chief Information Officer noted that the metaverse is one of the primary focus of the bank. “We believe that over time, emerging technologies such as blockchain, [augmented reality] and [virtual reality] will converge to create very interesting use cases that we have never imagined,” he said.