PwC joins metaverse club; buys land in The Sandbox

Corporate finance accounting services firm, PwC Hong Kong unit, has purchased a digital plot of LAND in the decentralized, community-driven virtual world, The Sandbox metaverse.

The latest development comes amidst all the hullabaloo over the digital world-metaverse, which has garnered astronomical traction from sports-stars, celebrities, large corporations and as well as start-ups joining the bandwagon. PricewaterhouseCoopers’ Hong Kong division becomes first internationally recognized professional services brand to foray into The Sandbox metaverse, a subsidiary of Animoca Brands.

Financial services to be built on digital plots

On December 23rd, PwC Hong Kong announced that it has purchased LAND in The Sandbox for an undisclosed amount. The digital plot will be used for the construction of a Web 3.0 advisory hub. The financial services firm also plans to use the hub to build a new generation of professional services that includes accounting and taxation. William Gee, a partner at PWC Hong Kong, said that the organization will leverage it’s expertise to help clients who wish to accept the move in the digital space. Gee, went on to add,

“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,” 

Eyeing The Metaverse

PwC is not the only firm in the financial sector to have shown interest in the digital space. Earlier this year, banking giants like the Bank of America and Morgan Stanley, have also expressed their optimism in the metaverse saying that this concept can fundamentally transform human behavior. In particular, metaverse could alter the way people socialize, watch performances, engage with brands, learn, and trade on digital assets.

PricewaterhouseCoopers is a multinational professional services network of firms, operating as partnerships under the PwC brand in 156 countries. PwC Hong Kong is the particular subsidiary of the conglomerate that has acquired LAND in The Sandbox.

Sandbox- The Digital World

The Sandbox, is a virtual world where players can build, own, and monetize their gaming experiences in the Ethereum blockchain. The Sandbox metaverse has been witnessing the massive growth of virtual real-estate demand and has partnered with famous brands including Adidas, Snoop Dogg among others. Welcoming PricewaterHouseCooper Hong Kong, Sebastien Borget, COO of The Sandbox, said,

“The metaverse is open for business. 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.”