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KPMG Forays into Web3 with $30 Million Investment Fund



Global accounting giant KPMG has begun making inroads into the Web3 sector, starting with a metaverse collaboration hub. According to reports, the firm is looking at creating a hub where its employees and clients can leverage opportunities in the digital space. 

KPMG has also announced it will be making a $30 million investment focused on Web3 experiences. While the firm will launch the metaverse hub first as its maiden Web3 initiative, other innovations will follow. 

Cliff Justice, KPMG’s U.S. leader of enterprise innovation, acknowledged that the Metaverse hub is aimed at education, collaboration, training, events, and workshops. 

However, he further noted that the accounting giant intends to hire hands to build and expand for a wider range of use cases. KPMG will explore use cases such as health care, consumer, retail, media, and financial services in the long term.


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Laura Newinski, deputy chair and chief operating officer at KPMG, acknowledged the potential of the metaverse in the following words;

The metaverse is a market opportunity, a way to re-engage talent, and a path to connect people across the globe through a new collaborative experience.”

In the past few months, the metaverse innovation has enjoyed heightened interest from individuals and Web2 big players. Spurred by the need to improve user interaction on the internet, companies like Meta (Facebook) have launched their flagship versions of the metaverse.

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