Commercial Bank International
Commercial Bank International wanted to gain first mover advantage on the Metaverse. Image Credit: Supplied

Dubai: Commercial Bank International has laid claim to be the first bank in the UAE to have ‘land’ on the Metaverse. It has opened up a presence in Decentraland, a blockchain-based ecosystem.

“To keep pace in an increasingly digital economy and re-invent customer experience with a digitally driven perspective, we believe that the financial services sector must take some courageous and innovative steps,” said Ali Sultan Rakkad Al Amri, CEO of CBI.

“We wanted to take part in this journey and become the first mover through an immersive Metaverse experience. We aim to enhance the integration of real and digital worlds, and we will continue to implement new digitization initiatives and advance technologies to serve our customers better.”

Dubai has just announced its plans to be a dominant presence on the AR-enabled parallel landscape, and with job creation in the AI and blockchain space a priority for the emirate.

“We are proud to be the first ever bank in the UAE and among the first innovative banks in the Middle East region to bring the Metaverse experience to our customers and people,” said Al Amri.

The Bank’s customers - even the public for that matter - can explore and interact with digital content. The virtual space also features a lounge to showcase ‘how CBI is committed to supporting the strategic vision and aspiration of the UAE towards digitization and innovation’.

What’s Metaverse for?

The Metaverse’s virtual world allows users to interact, explore, and access services as digital avatars of themselves. It is built on augmented reality (AR), virtual reality (VR) and blockchain.