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KPMG’s $30M investment sets course for its entry into the metaverse

KPMG's $30M investment
KPMG's $30M investment

KPMG, an accounting firm in the United States and Canada, has announced the opening of its first metaverse center. Helping employers and clients to trace growth opportunities in web3.

The new collaboration hub will help KPMG make its way to the metaverse. Both companies will be investing $30 million collectively this year, with the metaverse hub being at the center of this web3 experience.

KPMG’s education-focused Collaboration Hub

The collaboration hub will focus on education, collaboration, training, events, and workshops. Carried out with Cliff Justice- the leader of enterprise innovation in the U.S. Who claims that it’s currently being utilized for such things, but the firm intends to hire more people and expand it over time.

While these remain the short-term objectives, the long-term objective for the firm is to examine metaverse use cases for healthcare, consumer, retail, media, and financial services.

Citing her strategy, KPMG’s deputy chair and chief operating officer in the U.S., Laura Newinski, commented on this new endeavor saying “The metaverse is a market opportunity, a way to re-engage talent and a path to connect people across the globe through a new collaborative experience,” “The unique experience provided by our collaboration hub will tap the creativity and passion of our people and clients to accelerate innovation.”

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A new collaboration hub is not the only way the firms are trying to establish themselves in the metaverse though. KPMG Canada has recently added Eth & Btc to their corporate treasury, and also purchased a World Of Women NFT. KPMG US, on the other hand, has integrated crypto training in the process of hiring new professionals. Additionally, the firms’ have also started using a tool that helps provide audit services for financial services, called Chain Fusion.

“The metaverse is making it possible for us to experience the ‘phygital’ world, where physical and digital worlds collide,” said Armughan Ahmad, president & managing partner of Digital at KPMG in Canada, citing the importance of migrating to a digital world.

Commenting on the potential of the metaverse, he further added “The metaverse is a $13 trillion market opportunity that could boast as many as five billion users by 2030. Our first immersive metaversal experience will take our people, clients and communities beyond the traditional two-dimensional virtual environment and offer new levels of social connection, mobility, and collaboration. Think of it as a world without borders that has the potential to enhance our lives by providing new opportunities to work, learn and play,”

As this hub comes along, the company will keep on searching for opportunities in web3. While successfully creating tools, launching learning and development platforms, and hiring exceptional talent along the way. Potentially finding their place in the digital world of web3 with this innovation strategy.

Metaverse has sparked significant interest in the last couple of years, as most interactions shifted online. Be it school or work. And there was a need to make these contacts more real-life-like. Acknowledging the potential of the metaverse, JPMorgan suggested the metaverse technology to be a “one trillion-dollar opportunity”, as it established its own virtual headquarters in the Decentraland metaverse.

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