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Metaverse ‘explosion’ will be driven by B2B, not retail consumers: KPMG partner

Metaverse ‘explosion’ will be driven by B2B, not retail consumers: KPMG partner

The Australian arm of Big Four accounting firm KPMG could soon be holding executive meetings and closing multi-million dollar deals with clients in the Metaverse, with the firm now exploring how the revolutionary technology can transform its business model.

In a recent interview, KPMG’s James Mabbott, Partner in Charge at KPMG Futures said the firm sees real potential in the technology creating new and more efficient ways for businesses and consumers to interact with each other:

“I think the really interesting applications are going to be in the business to business context […] And I think that I actually think that’s where the money is going to be [even] more so than the consumer driven participation.”

Mabbott also stated that virtual interactions on Metaverse platforms could not only revolutionize client engagement and service delivery but potentially also open up additional revenue streams for the firm.

“What we’re looking to do is explore the opportunity to create new business models and new assets with technology that fundamentally transforms the way we deliver our services,” he told Cointelegraph.

Building out a metaverse team

The company has just created a brand new role within its KPMG Futures team, called Head of Metaverse Futures, which has just appointed Web3 executive Alyse Sue to the position, according to a recent statement sent to Cointelegraph.

KPMG Australia noted that Sue previously worked as a senior consultant on the KPMG Innovate team between 2012-2015 before venturing off into the cryptocurrency space — where she co-founded several startups, including Transhuman Coin, a decentralized finance (DeFi) project which invests in and supports emerging technologies.

Sue then worked at international software development and consulting firm Palo IT as the Head of Web3 before returning back to KPMG.

The new role comes along with a lofty ambition from KPMG to build multimillion-dollar business opportunities for the firm by 2025. To achieve this feat, Mabbott stated that KPMG has been looking into building its own Metaverse for the company’s internal business operations and business-to-business services.

Mabbott also noted that Sue will receive the support from some of the 90 members that comprise KPMG’s Futures unit — which includes a focus on artificial intelligence (AI) and Quantum Computing in addition to the Metaverse.

KPMG has also established KPMG Origins, a blockchain-based track-and-trace platform used to assist trading…

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