PwC Hong Kong Buys Land in The Sandbox
The subsidiary of the Big Four accounting company has entered the Metaverse.
- PwC Hong Kong has purchased virtual land in The Sandbox, an Ethereum-based VR and Metaverse platform.
- The company joins Adidas and other major brands in acquiring land and partnering with The Sandbox.
- The value of the purchase was not disclosed.
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PwC Hong Kong has purchased virtual land in The Sandbox, according to an announcement from Animoca Brands.
PwC Hong Kong Buys Sandbox Land
The acquisition of land means that PwC Hong Kong will have a dedicated space in The Sandbox, a VR game built on Ethereum.
William Gee of PwC Hong Kong said that the acquisition will “create value through innovative business models” and introduce “new ways to engage with…customers and communities.”
It is unclear exactly how PwC Hong Kong plans to use its presence in The Sandbox, though Gee said that the company plans to advise clients who want to invest in the Metaverse.
Animoca Brands noted that this deal makes PwC Hong Kong the first member of an international professional services company to obtain land in the virtual world of The Sandbox.
The value of today’s purchase was not disclosed. However, past sales of single land parcels suggest that the purchase could range between 2.7 ETH ($11,300) and 40,000 ETH ($164 million).
Other firms have previously bought land in The Sandbox. Adidas purchased land in the VR game in late November.
The platform has also partnered with several big names including The Walking Dead, Atari, South China Morning Post, and Snoop Dogg, as well as family brands The Care Bears and The Smurfs.
The Sandbox’s non-fungible tokens, which are used as parcels of land, are currently the sixth-largest category of NFTs by volume. The project saw 4,280 ETH ($17.5 million) of NFTs move this week, according to live data from OpenSea.
The Sandbox’s native cryptocurrency token, SAND, hit $6.13 today, its highest price since last month. At the time of writing the coin is up 16.7% over the past 24 hours and is valued at $6.09.
Disclosure: At the time of writing, the author of this piece owned BTC, ETH, and other cryptocurrencies.