Xin Hua Wang·2025-08-12 06:26Core Insights - The metaverse expands the imagination of financial institutions in product innovation, as they seek differentiation in a homogenized service landscape [1] - Digital transformation and fintech empowerment are key strategies for banks to enhance service quality, with the metaverse providing a new practical ground for initiatives like digital banks and digital collectibles [1] Group 1: Digital Collectibles - Postal Savings Bank of China’s Shandong branch has partnered with the "Seal Digital Collection" platform to enter the digital collectibles market, launching five limited edition digital collectibles [2] - Xi'an Bank issued 25,000 customized digital collectibles to celebrate its 25th anniversary, utilizing blockchain for copyright verification [2] - Other banks, such as Beijing Bank and Agricultural Bank of China, have also launched their own digital collectibles, enhancing user engagement and brand influence [3] Group 2: Financial Products and Metaverse - Digital collectibles are distinct from cryptocurrencies, as they represent specific artworks or items with actual value and do not possess payment functionalities [4] - Banks are not only developing digital collectibles but are also exploring new technologies within the metaverse, with institutions like Industrial and Commercial Bank of China entering the "Xirang" metaverse product [5] - The China Mobile Communications Association's Metaverse Industry Committee includes several banks, indicating a broader industry interest in exploring the metaverse [6] Group 3: Industry Challenges and Opportunities - While banks are actively engaging in the metaverse, there is a need for cautious evaluation of new technologies and business models to avoid hasty decisions [6] - The metaverse concept allows for the use of blockchain technology to secure data rights, facilitating asset circulation and transactions, positioning financial institutions as key players in this transformation [6]