KPMG Canada buys an NFT after investing in cryptocurrencies

KPMG in Canada announced that it has completed the purchase of a digital art NFT from the World of Women collection.

“This acquisition reflects our belief not only in the continued growth of NFTs…”

Managing Partner, Advisory Services, Benjie Thomas said of the purchase. He added that NFTs allowed organizations to interact with their customers in unique ways and enabled the 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 nonprofits using NFTs to market their brand, recruit talent, create value, raise awareness of causes and connect with customers. “

Kareem Sadek, co-head of crypto assets and blockchain services at KPMG, said. He is also bullish on web3 and believes it will change the way people interact with brands, socialize and exchange digital assets.

WoW NFT Collection

The WoW community, or World of Women, aims to bring more people, especially women, into the NFT space and build a more inclusive web3 platform. The organization supports green and women-focused causes around the world through charity.

His first NFT collection was released in July 2021 and the second is scheduled 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 digital art purchase of the acclaimed non-fungible token World of Women (#NFT), our first foray into this fast-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 this purchase will “attract more women” to the NFT sector.

“By all accounts, women are underrepresented in the crypto world, 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. He intends to use his experience investing in the digital asset market to help his clients develop effective strategies.

Earlier in the month, the company announced that it had added cryptocurrencies to its corporate treasury. He did not disclose the amount invested, but said that his holding consisted mainly of Bitcoin and Ethereum.

In addition to the aforementioned investments, the company also purchased a domain name from Ethereum Name Service: kpmgca.eth for an undisclosed amount.