KPMG Canada Follows Bitcoin Buy With Purchase of World of Women NFT

“Having now gone through the process, we are well-positioned to guide our clients around building a corporate NFT strategy,” KPMG said.

Feb 28, 2022 at 4:30 p.m. UTC
Updated Feb 28, 2022 at 7:20 p.m. UTC

Eli is a news reporter for CoinDesk. He holds ETH, SOL and AVAX.

The Canadian branch of KPMG has purchased a non-fungible token (NFT) from the World of Women collection, marking the global accounting firm’s foray into digital collectibles, the company announced Monday.

The NFT, Woman #2681, was purchased on Feb. 13 for 25 ETH before being transferred to a separate wallet, a spokesperson told CoinDesk via email. The company also revealed it owns kpmgca.eth, the Ethereum Name Service (ENS) domain name meant for making wallet addresses easier to use.

The move follows the firm’s announcement that it had added ether (ETH) and bitcoin (BTC) to its balance sheet earlier in February.

The consulting giant said the impetus of the NFT purchase was to better inform how it advised clients looking to enter the space.

“NFTs unlock a new channel for organizations to engage with their customers, while also underpinning innovation through the secure digitization of assets,” Benjie Thomas, managing partner at KPMG in Canada, said in a press release. “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.”

World of Women has seen a meteoric rise to the top of the NFT charts since its launch in November, touting an 8.5 ETH (roughly $24,000) floor price on secondary marketplace OpenSea.

The project has benefited heavily from promotion by actress Reese Witherspoon, whose media company Hello Sunshine partnered with the project in February.

KPMG isn’t the first corporate giant to ape into splashy NFT purchases. Last year, Visa made headlines by buying a CryptoPunk NFT for $150,000. The floor for the CryptoPunks collection now sits at $193,000.


Read more about
The Festival for the Decentralized World
Thursday - Sunday, June 9-12, 2022
Austin, Texas
Save a Seat Now

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

CoinDesk - Unknown

Eli is a news reporter for CoinDesk. He holds ETH, SOL and AVAX.

CoinDesk - Unknown

Eli is a news reporter for CoinDesk. He holds ETH, SOL and AVAX.

Trending

1
CoinDesk - Unknown
ICO-Funded Project Sparkster Converts $22M in Ether to USDC After 3 Years, No Product

Sparkster promised investors a “no-code” software-creation platform using $30 million in funds raised from investors in 2018.

Sparkster promised investors a “no-code” software-creation platform using $30 million in funds raised from investors in 2018.

CoinDesk - Unknown
2
CoinDesk - Unknown
GameStop Unveils Crypto and NFT Wallet, Shares Jump 3%

A beta version of the self-custodial Ethereum wallet is available to download now from GameStop's website.

A beta version of the self-custodial Ethereum wallet is available to download now from GameStop's website.

CoinDesk - Unknown
3
CoinDesk - Unknown
Japanese Bank Sumitomo Mitsui Trust to Establish Digital Asset Custodian: Report

The bank's pivot to digital assets comes alongside a global banking shift toward cryptocurrencies.

The bank's pivot to digital assets comes alongside a global banking shift toward cryptocurrencies.

CoinDesk - Unknown
4
CoinDesk - Unknown
BNP Paribas Joins JPM's Blockchain Network Onyx for Fixed Income Trading: Report

The French bank will use the Onyx network for short-term fixed income trading.

The French bank will use the Onyx network for short-term fixed income trading.

CoinDesk - Unknown