KPMG goes to the Metaverse

W saidcoming to the metaverse, there are a number of large numbers floating around. A report by the Greyscale banking department said last November “the market time to bring the metaverse to life is over $ 1 trillion in annual revenue.” Citi raised stakes in March, saying “the total addressable market for the metaverse will be between $ 8 trillion and $ 13 trillion by 2030.”

Big Four accounting firm KPMG considers those numbers to be “conservative”.

That’s why the firm is doing so much in the metaverse, announcing a $ 30 million investment this year to build a “corporate team” for employees, customers and more to invest in. in education, training, events and lessons — and after enrollment.

“The metaverse is a marketing opportunity, a way to redefine talent and a way to connect people around the world through a new team experience,” said Laura Newinski, vice president and vice president. chief executive officer at KPMG in the U.S. “Independent knowledge. Our team is committed to capturing the thinking and desire of our people and customers to speed up innovation.

KPMG Web3 is pursuing a number of crypto initiatives, such as KPMG Canada’s integration of Bitcoin (BTC) and Ethereum (ETH) into its portfolio and the acquisition of a World of Women non-fungible token earlier this year.

Talk about the metaverse is growing at near-exponential rates over the next 18 months or so. A McKinsey study found that by 2021, web searches for the word have increased by 7,200%.

And KPMG’s investment, while significant, was the result of a slump in the corporate budget. Last year, the metaverse -related companies raised about $ 10 billion, double the amount increased in 2020. And Epic Games alone raised $ 2 billion to help. in building its knowledge of the metaverse, taking its value to $ 31.5 billion.

Now, a World Economic Forum study found that 71% of business leaders believe the metaverse is good for business. And 42% say it’s a “change” or a “breakthrough.”

Of course, the elephant in the room no one can completely agree with the nature of the metaverse. Today, it is good to look at it as a 3D version of the Web. Using or enhanced virtual tools, users can explore virtual worlds that are more media-based than text-based, which means you can communicate. with any person, by email or in mail applications). However, the technology was not fully developed. And there are many different types of metaverses, not related. Workshops are available in Meta’s Horizon classrooms, Accenure Nth Floor, Fortnite and Decentraland.

However, Citi says that by 2030, the number of metaverse users will jump to about 5 billion.

“Users need to be able to participate in a wide range of user issues, including marketing, photography, media, advertising, healthcare, and communication,” said Kathleen Boyle, the editor of Citibank GPS. computers, gaming consoles, and smartphones, resulting in a vast ecosystem. But getting to that market requires an investment. The melting point of the metaverse data is likely to improve the score more than 1,000x today’s levels.

He does not deny KPMG. According to the company, U.S. and Canadian agencies will continue to look for opportunities in the crypto and Web3 space, among other things, to help people navigate the transformation of cryptocurrency. the physical and digital -a, as they are called, the “phygital” -worlds.

“The world has changed a lot in recent years, and our people and customers are excited to find new ways of working,” said Elio Luongo, CEO and partner. major at KPMG in Canada. “This gives them a new immersive place to change minds.”

The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.

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