The subsidiary of PwC, one of the world’s four largest accounting firms, entered Metaverse.
According to the announcement made by Animoca Brands, PwC Hong Kong has purchased virtual land from The Sandbox.
PwC Purchases Land from Hong Kong Sandbox
The acquisition of the land by the company means that PwC Hong Kong will have a private space in The Sandbox, a VR game built on Ethereum.
William Gee of PwC Hong Kong said the acquisition will “create value through innovative business models” and introduce “new ways to engage with customers and communities.”
While it’s unclear exactly how PwC Hong Kong plans to use its presence in The Sandbox, Gee noted that the firm plans to advise clients looking to invest in Metaverse.
Animoca Brands noted that this agreement makes PwC Hong Kong the first member of an international professional services company to acquire land in the virtual world of The Sandbox.
It was not disclosed how much the exchange took place today. However, past sales of single land plots indicate that the purchase could range from 2.7 ETH ($11,300) to 40,000 ETH (164 million dp’s).
Other Partnerships
PwC Hong Kong is not the first major company to buy land from The Sandbox. Previously, Adidas also bought land in its VR game in late November.
The platform has also collaborated with many big names such as The Walking Dead, Atari, South China Morning Post and Snoop Dogg, as well as family brands The Care Bears and The Smurfs.
Non-fungible tokens used as land plots of the Sandbox are currently known as the sixth largest category of NFTs by volume. According to live data from OpenSea, the project witnessed the movement of 4,280 ETH ($17.5 million) NFTs this week.
Sandbox’s native cryptocurrency SAND is trading at $6.22, up nearly 5 percent in the last 24 hours at the time of writing, according to data from CoinGecko. Although the popular metaverse coin has been generally green this week, it is still changing hands 25 percent below its all-time high of $8.40.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.