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KPMG Continues Crypto Movement with NFT Purchase

UTC by Oluwapelumi Adejumo · 3 min read
KPMG Continues Crypto Movement with NFT Purchase
Photo: Shutterstock

The move to purchase the World of Women is intended to encourage more women to venture into the NFT space.

The Canadian branch of KPMG has acquired the World of Women (WoW) NFT #2681, blue skin and wavy-haired woman NFT for 25 ETH marking its first foray into the fast-paced asset class, alongside an Ethereum Name Service domain name. This was revealed by an announcement made by the bank on February 28.

Launched in November 2021, World of Women NFT has witnessed explosive growth and made its way to the top of the NFT charts.

As of press time, the NFT is trading at a floor price of 8.8 ETH which is roughly $25, 600 on NFT marketplace OpenSea. Its rise can, in part, be attributed to support by renowned personalities such as Reese Witherspoon, the owner of Hello Shine Media Company that partnered with WoW project in February. 

It follows that WoW NFT #2681 was first bought on February 13, for 25 ETH, an equivalent of $70,000 at that time, before being transferred to a different wallet. While this complements their belief in the continued growth of NFTs, it is not their primary focus. 

Available information reveals that KPMG Canada intends to help clients develop corporate strategies centered on the acquisition and storage of NFTs. 

Benjie Thomas, the bank’s managing partner, said that NFTs open a new means for companies to interact with their customers while at the same time, it supports innovation by means of securing asset digitization. 

According to Thomas, KPMG Canada’s successful transition to the digital asset space enables them to guide clients on matters of corporate NFT strategy development. 

Per reports, the move to purchase the World of Women is intended to encourage more women to venture into the NFT space. Citing Nancy Chase in a press release, the KPMG Partner and National Risk Consulting Leader stated that women are underrepresented in the digital asset space. The move was therefore a watershed moment for the brand making their first NFT acquisition in a women-infused project. 

Other KPMG Crypto Projects

The NFT purchase is not the first of KPMG’s exploits into the digital asset space, as they recently purchased an Ethereum Name Service (ENS) domain name – kpmgca.eth.

The buy also comes weeks after the leading financial institution revealed that it was adding the two leading digital assets, Bitcoin and Ethereum, to its corporate reserve. 

These investments are in congruence with the KPMG Kareem Sadek statement that the company is open to seeking out creative ways of investing in the digital asset space and supporting select causes.

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