KPMG Canada enters the NFTs space with a debut purchase of World of Women NFT

The Canadian branch of multinational accounting company KPMG purchased a World of Women (WoW) NFT for 25 ETH ($70,000). The Woman #2681 is the company's first NFT asset, it also purchased an Ethereum Name Service domain name.

NFTs are one-of-a-kind blockchain tokens that represent ownership of a certain asset, such as a photograph or a domain name. So far, KPMG Canada has purchased two NFTs: It minted kpmgca.eth after purchasing World of Women #2681. Woman #2681, who had a blue complexion and wavy hair, was bought at 25 ETH ($70,000).

In a statement, KPMG Partner and National Risk Consulting Leader Nancy Chase stated, “Women are underrepresented in the realm of all things crypto, which makes us proud to make our first NFT acquisition in a collection that promotes women.”

KPMG Canada might continue investing in NFTs

NFTs, according to Kareem Sadek, co-leader of KPMG's Cryptoassets and Blockchain Services, have “many use cases,” including marketing, talent recruitment, philanthropy, and interacting with customers.

KPMG Canada not only believes in “the continuous rise of NFTs,” but it also wants to assist customers in developing corporate strategies for NFT acquisition and storage.

Sadek said that KPMG will look into NFT collections that “match with KPMG in Canada's values and brand, and we will look for new ways to invest in the space and support the right causes” if more NFTs are purchased in the future.