PricewaterhouseCoopers (PwC) has entered the Metaverse, announcing that it had purchased LAND in The Sandbox. The purchase makes PwC the first major professional service network to enter The Sandbox, joining other major brands such as Adidas.
The purchase was confirmed in an announcement by Animoca Brands, of which The Sandbox is a subsidiary.
A Global Organization
PwC is a global organization with a presence in over 156 countries. The organization employs over 295,000 people, offering advisory and tax services. PwC’s Hong Kong arm is the entity that has acquired LAND in The Sandbox.
Speaking about the purchase, Partner at PwC Hong Kong, William Gee, commented,
“The Metaverse offers new possibilities for organizations to create value through innovative business models, as well as introducing new ways to engage with their customers and communities. We will leverage our expertise to advise clients who wish to embrace the Metaverse on the full range of challenges presented by this emerging global digital phenomenon.”
Pioneering The Metaverse
The Sandbox has drawn considerable attention and has been highlighted by CNBC and the Wall Street Journal. The Sandbox features land and other types of nonfungible tokens (NFTs), where users can create their own worlds and monetize them, along with game experiences on LANDs. LANDs and NFTs that represent virtual real estate in The Sandbox.
The Sandbox’s native token, the SAND token, has risen by over 11,000% over the past year and over 11% in the past month alone. The Sandbox had also secured funding of $93 million from Softbank’s Vision Fund 2.
PwC To Play An Important Role
Speaking about PwC’s acquisition in The Sandbox, Sebastien Borget, COO of The Sandbox, stated that “professional services firms such as PwC Hong Kong can play a valuable role in the growth of the open metaverse.” He also stated that PwC could help other brands that aren’t similar with Web3.
“The metaverse is open for business,” Borget elaborated in a statement concerning PwC Hong Kong’s land acquisition in the Metaverse. “We welcome PwC Hong Kong to experience how The Sandbox fosters new immersive experiences and ways for brands to connect with customers. It’s an exciting time – and PwC is at the forefront of this emerging frontier.”
Other Companies In The Sandbox
Several other companies are also part of The Sandbox. Adidas had purchased LAND in late November, while several other notable names such as Atari, South China Morning Post, The Walking Dead, Snoop Dogg, The Smurfs, and The Care Bears are already present on The Sandbox.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.