LAND Acquisition Of The Sandbox, PwC Hong Kong Appears In The Metaverse World

PwC Hong Kong enters the world of the metaverse. (photo: PwC Hong Kong)

JAKARTA – PwC Hong Kong, a subsidiary of the international organization PricewaterhouseCoopers (PwC) Global, Thursday 23 December announced its emergence in the metaverse space by acquiring the popular LAND in the world, The Sandbox.

Although the cost of its LAND assets was not disclosed, it was noted that PwC Hong Kong intends to establish a Web 3.0 consulting center to facilitate a new generation of professional services, including accounting and taxation.

Global organization PwC, headquartered in London, United Kingdom, recorded revenues of US$45 billion from June 2020 to June 2021, up 2% from the previous year.

William Gee, partner at PwC Hong Kong, stated that the organization will seek to "use our expertise to advise clients" on the metaverse, calling the emerging technology a "digital phenomenon."

In July this year, PwC crypto leader Henri Arslanian stated that venture capital funds and similar conglomerates with large financial resources limit opportunities for smaller, often family-run companies to invest in and participate in the growth of promising crypto startups.

Recently, Twitter CEO Jack Dorsey expressed similar concerns about the power of venture capital firms in preventing Web 3.0 developers from achieving their decentralized vision.

The Sandbox's chief operating officer, Sebastien Borget, shared his enthusiasm for the introduction of PwC Hong Kong to their platform.

“Metaverse is open for business. We welcome PwC Hong Kong to experience how The Sandbox is driving new experiences and immersive ways for brands to connect with customers,” said Borget, as quoted by Cointelegraph.

According to data from DappRadar, The Sandbox has registered 4,450 unique users over the past 30 days, while the platform's native token, SAND, is priced at $5.84, after retracing nearly 30% of its all-time high price last month.