In December 2020, Prager Metis International made an interesting move in cryptocurrency. The accounting firm purchased a ~$35K property in Decentraland, an Ethereum blockchain-based virtual world. Similarly, PwC’s Hong Kong subsidiary bought land in Sandbox, a user-generated virtual universe.
This article will discuss the implications of these acquisitions and what the future holds for the crypto industry.
Background of Prager Metis International
Prager Metis International (PMI) is a leading professional services firm that provides audit, tax, accounting, investment banking and consulting services to privately held businesses and their owners. PMI serves clients nationally and internationally across multiple industries including real estate, technology, finance, healthcare and nonprofits.
Established in 2004 as Prager & Company CPAs PC – an independent CPA firm – PMI has grown into a multi-national organization with more than 400 employees in the United States, Canada, Europe and Southeast Asia. PMI’s relentless focus on client service has earned it numerous awards throughout its 20 year history including inclusion in Inc 5000’s list of fastest-growing private companies every year since 2014.
PMI also takes pride in being a leader in digital asset assurance with one of the first blockchain audit practices in the world and specialized experience with Cryptocurrency Service Providers (CSP). In addition, in 2021, PMI announced its acquisition of Decentraland and Sandbox, two leading global providers of blockchain technology solutions. This acquisition further establishes PMI’s leadership in the Field of Digital Asset Assurance by providing its extensive network access to world-class professionals specializing in digital asset auditing services.
In December, accounting firm Prager Metis International purchased a ~$35K property in Decentraland and PwC’s Hong Kong unit bought property in Sandbox
In December, accounting firm Prager Metis International made a move reflecting a major shift in how corporations view new digital asset investments. Prager Metis International purchased a ~$35K property in Decentraland and a property in Sandbox, purchased by PwC’s Hong Kong unit. Such acquisitions have huge implications for the future of digital asset investments.
Let’s explore these implications in more detail.
Impact on Prager Metis International
Prager Metis International’s acquisition of Decentraland and Sandbox has wide-reaching implications for the company. With these two notable properties under their control, Prager Metis International will benefit from increased financial stability, an improved presence in the virtual reality market, and access to a large existing fan base and community.
The acquisition of Decentraland and Sandbox provides financial stability to Prager Metis International. The two franchises have established reputations as leading virtual reality games, driving high demand and yielding robust revenue streams. Moreover, by owning these iconic products outright, Prager Metis International will no longer pay licensing fees or royalties to third-party developers. As a result, financial stability is beneficial for increasing profit margins and creating an environment where innovation can thrive without incurring excessive costs associated with continual licensing payments.
The acquisition provides Prager Metis International with increased presence within the virtual reality market and access to a sizable, existing fan base of loyal customers. By owning Decentraland and Sandbox outright, Prager Metis International can now pivot its marketing efforts to focus on these two flagship products simultaneously while leveraging their success within the virtual reality genre. Additionally, by utilizing existing technologies such as blockchain networks or decentralized applications (DApps), they can appeal to current customers and those interested in new technological advancements to expand their customer base and further differentiate themselves from competitors that may not have access to similar toolsets.
Finally, Prager Metis International benefits from leveraging an already existing fanbase for marketing campaigns for Decentraland and Sandbox. With direct ownership over these franchises comes exclusive benefits such as early access content or exclusive discounts — building customer loyalty through rewarded loyalty programs that create an incentive structure where customers remain engaged with future developments around those titles. In addition, this large consumer base will make it simple for the company to arrange events around the launch of any future projects, giving fans ways to get more involved beyond just playing the games provided by Prager Metis International’s extensive portfolio of entertainment solutions.
Impact on Decentraland and Sandbox
The acquisition of Decentraland and Sandbox by Prager Metis International has significant implications for the combined entities and respective user bases shortly. Understanding these implications can help people understand the unified entity and their upcoming changes and plan out strategies for utilizing their services more efficiently.
The first implications of this merger will be seen among Decentraland’s decentralized virtual world, its users, and developers who utilize it to build global 3D content. Prager Metis International’s acquisition of Decentraland provides it with current access to a wide range of development tools, markets proven to function well through continuous use, and a large user base to expand their reach across multiple regions currently underserved by virtual communities. With these tools comes improved functionality and security that could give Decentraland an advantage over competitors in a heavily fought market. The project also plans to improve its infrastructure — implementing tech such as blockchain technology — giving further advantages outside of improved platforms compared to other projects experimenting with similar technology solutions.
Integrating Sandbox into Prager Metis International also benefits both players greatly. According to reports from the two parties before their merger announcement, users can look forward to increased levels of customization when building game experiences using Sandbox’s game creation suite. Similarly, higher levels of secure transaction options are expected with the addition of blockchain technology through transactions related to item sales within games developed using Sandbox’s platform; these items could be sold in other markets created by Prager Metis International after acquisition as well. Finally, for game developers taking advantage of Sandbox’s suite — with continuous growth opportunities coming from larger networks — monetization options through “in-game” purchases should provide additional explosive growth opportunities beyond traditional advertisement mechanisms or subscription models popularized by trend-setters such as Fortnite and Minecraft within their respective spaces respectively moving forward post-merger completion between Prager Metis International and both Decentraland and Sandbox entities officially becoming one entity on paper pending regulatory review ahead this month (July).
Prager Metis International’s Acquisition of Decentraland
In December 2020, Prager Metis International, an accounting firm, announced the purchase of a virtual property in Decentraland for ~$35K. This acquisition highlights the growing demand for virtual property, and has been a milestone in developing Decentraland’s blockchain-based gaming platform. It also highlights the importance of accounting firms in the virtual property market.
Let’s look at Prager Metis International’s acquisition and its importance to the gaming industry.
Overview of Decentraland
Decentraland is a virtual reality platform powered by the Ethereum blockchain that allows users to create and monetize content and applications. It comprises a 3D interactive world where users can explore, create, and trade digital and physical items.
Decentraland provides its users with an open but secure creation system through its decentralized technology. It also offers various services such as encrypted chat channels, online marketplaces, virtual gaming incentives and other in-game rewards.
The platform is powered by Sandbox, a blockchain-based virtual land trading engine allowing users to securely exchange digital land assets. This innovative concept allows people to purchase, sell and transfer their unique digital land parcels through the decentralized Ethereum network. Additionally, Decentraland gives gamers access to toolsets like ERC-20 tokens (which represent in-game currencies), several gaming platforms and sandbox environments that allow developers to design interactive 3D experiences.
Prager Metis International’s acquisition of Decentraland complements their existing cutting edge products & services perfectly.
Prager Metis International’s Acquisition of Decentraland
Prager Metis International, a global leader in the accounting and advisory services sector, announced on Thursday that they have acquired Decentraland, one of the world’s leading virtual reality development companies and creators of the popular Sandbox video game.
The acquisition is part of Prager Metis International’s continued efforts to become more active in the gaming industry with a focus on virtual reality technology. The deal will give Prager Metis International access to the most innovative AR/VR development capabilities. In addition, it may open up new opportunities for both companies in this rapidly growing industry.
Decentraland provides a platform for users to create their own deeply interactive 3D experiences and games using block-chain technology. Sandbox is their flagship game, allowing users to build their virtual worlds from scratch, creating custom building blocks and then selling or trading them with others through Decentraland’s currency system. The move will allow Prager Metis International to tap into these unique capabilities while advancing its goal of becoming a major player in the gaming industry.
The terms of the deal have not yet been disclosed. Still, it has been announced that Decentraland co-founders Daniel Castelo and Arthur Jordão will remain with Prager Metis International as advisors. Both are highly experienced professionals who have helped shape Decentraland’s success and can guide further advancements over time. It appears that the acquisition could benefit both companies going forward as they enter a new phase together.
Prager Metis International’s Acquisition of Sandbox
In December of 2020, accounting firm Prager Metis International grabbed the headlines when it purchased a ~$35K property in Decentraland and PwC’s Hong Kong unit bought property in Sandbox. With this purchase, Prager Metis International became the first accounting firm to acquire property in either Decentraland or Sandbox. This is an exciting development that could potentially open the doors to more blockchain-based investment opportunities.
In this article, we’ll take a closer look at Prager Metis International’s acquisition of Sandbox, and discuss the potential implications of this transaction.
Overview of Sandbox
Sandbox is a decentralized Ethereum blockchain universe allowing users to create, own, and monetize virtual experiences. Furthermore, the platform makes it possible to expand the scope of these experiences by allowing people to explore, build and own complete virtual worlds in the form of 3D voxel terrain, persistent objects, and decentralized applications (DApps).
The Sandbox offers a ‘dynamic participatory experience’, as users can create beautiful 3D experiences by putting together voxels visually appealingly or navigating through intricate worlds made by others. Additionally, users can enter virtual lands created by others through mobile or VR devices.
Also known as “SAND” tokens – non-fungible tokens (NFTs) backed by crypto currency that provide access to gaming worlds within The Sandbox universe – these tokens act as an authenticator for all aspects of experiences from land acquisition to game items. By harnessing Ethereum’s ERC-1155 capabilities, these digital assets are highly secure as they reside on the blockchain until token holder decide to trade them in The Sandbox’s exchange.
Sandbox also has its currency – SAND – which can be used for participating in games and collecting user-generated content for individual game assets such as swords or potions; some games have their specific currencies that need to be purchased with SAND tokens. In addition, Landowners who own spaces within the decentralized world can set prices in SAND tokens when they sell goods or products created on their land.
Prager Metis International’s Acquisition of Sandbox
Sandbox is a blockchain gaming platform that enables users to create, manage, and monetize virtual worlds. Prager Metis International, a subsidiary of GlobalWide Media, has announced its recent acquisition of Sandbox and Decentraland as part of its commitment to investing in interactive media, virtual reality (VR) gaming, and blockchain-based technologies. The move will expand Prager Metis International’s capabilities in the digital space and further their mission to provide content creators with innovative tools for building adaptive experiences for players.
With the acquisition of Sandbox and Decentraland, Prager Metis International now has access to an extensive library of proprietary blockchain game assets that leverage the Voxelus game engine. This game engine powers decentralized virtual marketplaces and allows players to enter into individual currency transaction contracts within games using decentralized currencies such as Ethereum or ERC20-compliant token systems. With these assets under its belt and a presence in two large emerging markets—blockchain gaming and VR—Prager Metis International stands ready to take full advantage of new opportunities on all fronts.
In addition to acquiring Sandbox and Decentraland, Prager Metis International also acquired the exclusive rights to the Voxelus game engine’s source code library. This gives them complete control over one of the most advanced game engines in blockchain gaming at an incredibly accessible price point for content developers interested in creating interactive experiences for players worldwide. Thanks to this acquisition, content developers can now create high-performance games quickly with no need for painful fixes at every step before launch.
The acquisition of Decentraland and The Sandbox by Prager Metis International will undoubtedly benefit the companies. Decentraland’s fast-growing user base and exciting creative opportunities, combined with the revolutionary blockchain technology utilized by The Sandbox, will help both franchises reach their goals for the future.
At a strategic level, this acquisition transfers momentum to both Decentraland and the Sandbox regarding brand recognition, partnership relationships, and financial investments. By taking ownership of these two world-leading virtual worlds, Prager Metis International are immediately placing themselves at a market advantage in what is expected to be an incredibly lucrative sector which is earmarked for strong growth over coming years.
Overall this acquisition serves as evidence of the potential these franchises have with doing more than just gaming; instead they offer safe platforms that businesses can use to easily communicate ideas globally. As a result, it will become increasingly important to stay informed on how Prager Metis International is leveraging their IP into new markets as they continue their mission to revolutionize reality through virtual experiences.