KPMG enters the metaverse, invests $30M in Web3 employee training

Published at: June 28, 2022

KPMG, one of the Big Four accounting firms in Canada and the United States, has revealed the opening of its first metaverse collaboration hub to help its employees and clients pursue growth opportunities in the digital era.

KPMG is entering the metaverse with a new collaboration hub that will connect employees, clients and others with Web3. The company is making a collective $30 million investment this year in Web3 experiences, with the metaverse hub as the "signature piece."

According to a Tuesday report by Fortune, the hub will be focused on education, collaboration, training, events and workshops with Cliff Justice, KPMG U.S. leader of enterprise innovation claiming that it is presently being utilized for such things but that KPMG intends to hire people to build it and expand it over time.

The long-term objective for the company is to examine other potential metaverse use cases such as health care, consumer, retail, media and financial services.

Global spending in the #metaverse could reach $5 trillion by 2030❗ #eCommerce and #VirtualAdvertising are expected to be the main source of income in the space.What do you think❓Read the full @McKinsey report on @Cointelegraph https://t.co/zrakjjxoja pic.twitter.com/yfwDFHyAkw

— THE RELEVANCE HOUSE. (@RelevanceHouse) June 28, 2022

Laura Newinski, deputy chair and chief operating officer at KPMG in the U.S., said:

"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 companies will continue to explore possibilities in the crypto and Web 3.0 space, co-create new tools and solutions that provide critical insights, launch immersive learning and development platforms, recruit talent to contribute knowledge and help navigate the changing confluence of the physical and digital worlds, among other things, as part of its innovation strategy.

Related: Yahoo launching Metaverse events for Hong Kong residents under restrictions

The COVID-19 epidemic sparked people's interest in the metaverse. There has been an increase in the desire for methods to make internet contact more lifelike as more individuals work and go to school online. JPMorgan, one of the biggest banks in the United States, made headlines earlier this year by publishing a paper suggesting metaverse technology was a "one trillion-dollar opportunity," along with establishing its own virtual headquarters in the Decentraland (MANA) metaverse.

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