Last edited: Dec 28, 2021

PricewaterhouseCoopers, one of the Big 4 accounting firms, has bought virtual land within the Sandbox (SAND), a metaverse where players can play, build, own, and monetize their virtual experiences. This marks the first time a professional services firm publicly entered the Sandbox as a member in any capacity.

According to William Gee, partner at PwC Hong Kong, purchasing virtual land made strategic sense for the firm since “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.”

Gee added that PwC “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.”

According to Animoca Brands, consulting services firms such as PwC, Deloitte, KMPG, etc., will be crucial in building and implementing the potential business opportunities in the metaverse, since companies less familiar with Web 3.0 and blockchain technology will need the guidance and knowledge of experts to explore this ever-expanding ecosystem.

The Sandbox is an Ethereum-based virtual world that is community-driven and allows creators on the platform to monetize their gaming experiences, whether through earning SAND tokens or minting their NFTs and selling them on the marketplace. In addition, users can purchase LAND tokens in the metaverse to own their virtual properties, and they can enrich these LAND with virtual ASSETS, which is basically publishing virtual content on the platform for people to experience.

Though not yet tradable on BTCC, SAND is one of the best performing tokens in 2021, up more than 16,000% on the year, jumping from 0.03 to the price of $6.19 currently. Powered by Ethereum, ETH is still crucial to the development of the metaverse, and would be a less risky option for investors interested in the upside of the metaverse in the years to come. ETH is currently sitting on the price of $3,949.93, down 2.64% over the past 24 hours.

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