KPMG Canada follows Bitcoin buy with purchase of World of Women NFT

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KPMG Canada follows Bitcoin buy with purchase of World of Women NFT
KPMG Canada follows Bitcoin buy with purchase of World of Women NFT

“Now that we’ve gone through the process, we’re in a good position to advise our clients on how to develop a corporate NFT strategy,” KPMG stated.

KPMG’s Canadian office has purchased a non-fungible token (NFT) from the World of Women collection, marking the multinational accounting firm’s first entry into digital collectibles.

A spokesman told CoinDesk through email that the NFT, Woman #2681, was purchased on Feb. 13 for 25 ETH before being transferred to a second wallet. The company also stated that it owns KPMG.eth, an Ethereum Name Service (ENS) domain name that makes it easier to use wallet addresses.

The decision comes after the company announced in February that it had added ether (ETH) and bitcoin (BTC) to its balance sheet.

Here is what KPMG had to say  On NFT

The consulting giant said the impetus of the NFT purchase was to better inform how it advised clients looking to enter the space.

“NFTs unlock a new channel for organizations to engage with their customers, while also underpinning innovation through the secure digitization of assets,” Benjie Thomas, managing partner at KPMG in Canada, said in a press release.

“Having now gone through the process, we are well-positioned to guide our clients around building a corporate NFT strategy, including acquiring and safeguarding NFTs.”

Conclusion

Since its inception in November, World of Women has rocketed to the top of the NFT charts, boasting an 8.5 ETH (approximately $24,000) floor price on secondary marketplace OpenSea.

Reese Witherspoon’s media firm, Hello Sunshine, joined with the project in February, and the project has profited greatly from her marketing.

KPMG isn’t the only corporate behemoth to invest in high-profile NFTs. Visa made waves last year when it paid $150,000 for a CryptoPunk NFT. The CryptoPunks collection now has a starting price of $193,000.

Read More: Bitcoin ($BTC) Whale Activity Surged after Price Bottomed out, Says Crypto Analytics Firm

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