KPMG Canada buys an NFT after investing in crypto
KPMG in Canada is bullish on digital assets and intends to use its experience investing in NFTs to help clients develop effective investment strategies.
“This acquisition reflects our belief not only in the continued growth of NFTs…”
Managing Partner, Advisory Services, Benjie Thomas said about the buy. He added that NFTs enabled organizations to engage with their customers in unique ways and allowed secure digitization of assets.
“There are numerous use cases for NFTs. We are already seeing organizations from retailers and sports leagues to auction houses, celebrities, and not-for-profits use NFTs to market their brand, recruit talent, create value, raise awareness for causes, and connect with customers. “
KPMG’s cryptoassets and blockchain services co-leader Kareem Sadek said. He is also bullish on web3 and believes it will change how people interact with brands, socialize and trade digital assets.
WoW NFT Collection
The WoW, or World of Women, community aims to bring more people, especially women, into the NFT space and build a more inclusive web3 platform. The organization supports women-focused and ecological causes around the globe through charity.
Their first NFT collection was launched in July 2021 and the second one is slated for 2022.
KPMG in Canada reportedly paid 25 ETH, or roughly $70,000, for Woman #2681, which is a digital portrait of a woman with blue skin and wavy hair.
We completed the purchase of digital art from the highly acclaimed World of Women non-fungible token (#NFT) collection, our first foray into this rapidly growing asset class. @worldofwomennft #ETH #NFTCommunity https://t.co/HDKu77oVam pic.twitter.com/JmUIaKZcpi
— KPMG Canada (@KPMG_Canada) February 28, 2022
KPMG partner and national risk consulting leader Nancy Chase said the company hopes that this purchase will “draw more women” into the NFT sector.
“By all accounts, women are underrepresented in the world of all things crypto, which makes us proud to make our first NFT acquisition in a collection that supports women.”
KPMG Canada bullish on digital assets
This is the company’s first NFT investment but not its first foray into digital assets. It intends to use its experience investing in the digital asset marketplace to help their clients build effective strategies.
Earlier in the month, the company announced that it had added cryptocurrencies to its corporate treasury. It did not disclose the amount invested but said its holding mainly consisted of Bitcoin and Ethereum.
In addition to the aforementioned investments, the company has also purchased an Ethereum Name Service domain name — kpmgca.eth for an undisclosed amount.