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With its first NFT purchase, KPMG Canada continues to invest in digital assets

KPMG Canada is a tax auditing and advisory services organization based in Canada. Its purchase of the WoW NFT is the company’s first move into the digital asset market. The NFT trend has been embraced by major organizations, corporations, and commercial conglomerates. Bitcoin and Ethereum had previously been added to the company’s investment portfolio. The next logical step seems to be into the domain of NFTs.

Non-fungible tokens, or NFTs, are one-of-a-kind digital tokens that are linked to a digital or real-world object such as an artwork, music file, video clip, graphic art, document, and so on. Crypto users can purchase the token using cryptocurrency and receive ownership of the asset it is linked to.

This ownership is then recorded and immutable on the blockchain. As a result, all subsequent NFT sales will be recorded on the blockchain.

Benjie Thomas, Managing Partner of KPMG Canada’s Advisory Services, commented on the NFT transaction, saying, “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.”

By supporting equitable chances for female artists in the Web3, the World of Women network hopes to promote representation and diversity. This organization’s initiatives aim to encourage more female artists to investigate crypto and NFT prospects. Several humanitarian activities are being sponsored by the organization to help worldwide women’s issues and environmental reasons. The iconic WoW series has become highly collectible in nature, with 10,000 first edition NFTs representing varied and inspirational women.

Nancy Chase, Partner and National Risk Consulting Leader at KPMG, highlighted the paucity of female representation in the crypto industry when discussing the value offered by the WoW collection. “She said,” she explained.

“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.”
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Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.