The Chicago Journal

USA and Canada Accounting Firm KPMG to Focus on the Metaverse

The metaverse has become a hot topic, with new virtual reality platforms and NFT brands trying to integrate themselves into this emerging industry. But they aren’t alone as established brands have been working towards the same goal.

KPMG, one of the top accounting firms and auditor to some of the biggest names in business in the United States and Canada, has just announced that they will be dipping their toes into virtual reality.

Read also: Elon Musk Reiterates He Never Encouraged Other People to Invest in Crypto

The company recently announced that it will be opening a collaboration hub connecting employees, clients and communities. This new development can allow them to explore opportunities in industries, which could lead to growth.

In 2022, the firm plans to invest $30 million into Web3 experiences with a major focus on the metaverse hub.

The collaboration hub is a new way for both firms to lead employees and clients into Web3.

The two KPMG firms have a combined team of professionals that can help clients develop and execute their metaverse strategy.

“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,” said Laura Newinski, US deputy chair and chief operating officer at KPMG.

“The unique experience provided by our collaboration hub will tap the creativity and passion of our people and clients to accelerate innovation,” she added.

KPMG Canada recently delved into the world of crypto by adding Ethereum and Bitcoin as part of their corporate treasury program which will allow them greater access for investing in blockchain ventures through NFTs (non fungible tokens).

The US branch is on a mission to help new professionals understand the ins and outs of both NFTs as well as crypto training.

The firms are leveraging new technology like Chain Fusion to provide audit services for crypto-native and financial companies.

KPMG Canada and USA is set to implement an innovation strategy that will see them explore opportunities within crypto and Web3 space. They have plans on co-creating tools or solutions for critical insights as well as their own learning platforms which can provide immersive experiences into how these technologies work with physical and digital worlds.

Armughan Ahmad, president & Managing Partner of Digital at KPMG Canada expressed his enthusiasm for this exciting project, saying:

“The metaverse is making it possible for us to experience the ‘phygital’ world, where physical and digital worlds collide,” he explained. 

“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,” Ahmad added. 

“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.”

Read also: 50 Million Unsold Units Indicate Samsung Overestimated Sales in 2022