KPMG to Enter Metaverse Space by Spending $30M

KPMG to Enter Metaverse Space by Spending $30M

"The way we look at it, it’s not just augmented reality and virtual reality. It’s really the next iteration of the internet," KPMG's US Leader of Enterprise Innovation Cliff Justice noted.

KPMG, a multinational accounting firm founded in 1987, has recently announced that it would be investing $30M to explore metaverse capabilities and Web3 technology after launching its new collaboration hub earlier in June.

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The newly established hub, also held as the "signature piece," was reportedly built with the sole purpose of connecting employees and clients with Web3 where they will be able to engage, communicate, and grow together.

According to the official report issued on June 28, the first KPMG metaverse collaboration hub will be based on training, workshops with Cliff Justice, and education. KPMG also mentioned that the company is very keen on exploring other possible utilization cases of Metaverse, including media, financial services, health care, consumer, and retail.

COO at KPMG Laura Newinski stated that the metaverse technology should be explored more as it's a great opportunity to grow stronger in the market, also adding that it’s a very efficient and fast way to connect people from all around the world. She noted:

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

KMPG implied that it would "continue to explore opportunities" in Web3 and the crypto ecosystem, by rolling out interactive learning platforms, finding new talents to expand the current hub, and revolutionizing the physical and digital worlds.

However, it looks like KPMG is not the only one to examine the possibilities in the Web3 ecosystem. For instance, back in May, ​​the University of São Paulo (USP) announced that it would be carrying out research on the importance of such technology. On top of that, at the beginning of June, the South Korean government issued a statement, indicating that it would provide a $177.1M grant to companies, delving into the metaverse industry.

Gyth L. - Crypto Analyst

by Gyth L. - Crypto Analyst, BitDegree