PwC Hong Kong is the latest corporate entity to make its way into the metaverse, purchasing virtual land in The Sandbox, making it the first among leading professional services companies to enter the world of virtual reality. According to Partner at the firm, William Gee, the opportunity will enable PwC Hong Kong to generate value thorugh innovative business models and develop new ways to engage with customers and communities.
Gee observes, “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. We 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.”
Several leading consumer facing brands have been entering the metaverse by purchasing parcels of virtual real estate, including most recently Adidas. While these brands can develop a virtual offering of their range of products to drive higher levels of engagement with their customers in the metaverse through the power of NFTs, it remains unclear how the subsidiary of a Big Four consulting firm will capitalize on the opportunity the metaverse promises to offer.
According to an official announcement from Animoca Brands, the company behind The Sandbox, the entry of professional services into this space can drive more growth. Firms like PwC can help raise awareness about the potential of Web 3.0 and the metaverse among businesses looking to explore these technologies.
2022 could see more mainstream adoption of the metaverse as more brands discover innovative ways to engage with their consumers. Some of the leading brands that have already made their way into The Sandbox include The Walking Dead, Atari, Care Bears, The Smurfs and Snoop Dogg.
