Soon after adding Bitcoin and Ethereum to its balance sheet, KPMG Canada has bought its first NFT from the World of Women (WoW) collection.
First Digital Currencies, Now NFTs
KPMG Canada is a Canadian tax auditory and advisory services firm. Its purchase of the WoW NFT marks its first foray into this category of digital assets. Major organizations, companies, and business conglomerates have been getting on board with the NFT trend. The company had previously added Bitcoin and Ethereum to its investment holdings. Venturing into the world of NFTs seemed like a natural next step.
Leveling Up With Next Stage Of Crypto Investment
NFTs or non-fungible tokens are unique digital tokens directly connected to a digital or real-world asset like an artwork, audio file, video clip, graphic art, document, etc. Crypto users can buy the token with cryptocurrency and gain ownership over the asset with which it is uniquely connected. This ownership is in turn, recorded on the blockchain and is immutable. Therefore, all following sales of the NFT will also be recorded on the blockchain.
The Managing Partner of KMPG Canada’s Advisory Services, Benjie Thomas, addressed the NFT purchase and said,
“NFTs unlock a new channel for organizations to engage with their customers while also underpinning innovation through the secure digitization of assets. This acquisition reflects our belief not only in the continued growth of NFTs but in the value of WoW and its mission. 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.”
KMPG Chooses WoW NFTs
The World of Women community aims to increase representation and inclusivity by promoting equal opportunities for female artists in the Web3. The initiatives taken by this organization seek to empower more and more female artists to explore crypto and NFT opportunities. The organization also runs several charitable initiatives that support global women’s issues and ecological causes. With 10,000 first edition NFTs featuring diverse and inspirational women, the signature WoW collection has become highly collectible in nature.
Speaking on the value added by the WoW collection, KPMG’s Partner and National Risk Consulting Leader, Nancy Chase, addressed the lack of female representation in the crypto world. She said,
“By all accounts, women are underrepresented in the world of all things crypto, which makes us proud to make our first NFT acquisition in a collection that supports women. We hope that our purchase draws more women into a sector that’s on the cusp of changing how we interact with one another in the future.”
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
