PwC Hong Kong enters The Sandbox Metaverse

The Hong Kong branch of the auditing firm expands into The Sandbox’s Metaverse.
December 23, 2021 - Staff writer

As the Metaverse fever catches on, businesses are racing to stake a claim for themselves in the virtual world.

 

Pricewaterhouse Coopers’ (PwC) Hong Kong unit is the latest addition to the list of businesses that have joined the metaverse. Today, the auditing firm announced that it had obtained a plot of land within The Sandbox metaverse, making it the first of its kind to own land on the Metaverse.

 

The Sandbox team recently confirmed the transaction, and although details such as the cost were not revealed, one can guess the acquisition did not come cheap. Recent plots within The Sandbox have sold for as high as US$14,000.

 

PwC Hong Kong is a subsidiary of the PwC global network, a multinational conglomerate of companies located in 156 countries providing auditing, assurance, and tax services.  

 

Even as different businesses swarm the metaverse, there is still a notable vacuum of tax firms and their services in the digital world. This progressive move by PwC Hong Kong offers a solution to the problem.

 

William Gee, a partner at PwC Hong Kong, said about the purchase; “The metaverse offers new possibilities for organisations 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,” he added.

 

The announcement, too, seems to have benefited The Sandbox. Data shows that its native token, SAND, spiked in value by 14% after the announcement.

 

About The Sandbox

 

The Sandbox is a virtual game where players can play, build, own, and monetize their virtual experiences.

 

The platform is recognized as one of the pioneers in the metaverse and has partnered with major brands like Adidas, Snoop Dogg, The Walking Dead, Deadmau5, and various others, offering them land for sale.

 

According to DappRadar, there have been around 4500 virtual land sales on The Sandbox in the last 30 days.

 

Photo: The Sandbox

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