Recently, we have seen multinational industries and giants exploring technological advancement — creating a virtual and augmented reality (space) for other businesses to experience in real life. This includes creating virtual stores and marketplaces for businesses to advance their product & service delivery.
Similarly, retail consumers' adoption of this advanced technology has soared. Every indicator shows that most online users will embrace a space where they can experience real-life happenings— in a virtual space.
The debate now centers around which of these two drivers will bring about the advancement— B2B or retail consumers.
One of the Big4 accounting firms this week, KPMG, said it would venture into the Metaverse.
KPMG will soon hold executive meetings and close multimillion-dollar deals with clients there. This is in a bid to explore how revolutionary technology can transform its business model.
James Mabbot, a Partner in Charge at KPMG Futures, says the accounting firm sees the potential in this technology. He said it would help create new and more efficient ways for businesses and consumers to interact with each other.
In his words, he believes the Metaverse advancement lies in Business to business context. He said, " I think the really interesting applications will be in the Business to Business context."
KPMG has also set up a new team in its Australian subsidiary.
Australia KPMG recently created the Metaverse team and the role of the head of its futures. The firm appointed Alyse Sue, a senior consultant on the KPMG Innovate team, to head the new team.
Interestingly, Alyse Sue is an industry player and expert familiar with the web3 ecosystem. She co-founded several startups that include Transhuman coin, a DeFi. Similarly, she worked as the head of web3 at Palo IT, an international software development and consulting firm.
She said the new role as head of Metaverse Futures at KPMG comes with a lofty ambition. The team is expected to build multi-million dollar business opportunities for the firm by 2025.
Experts are concerned about the recent fall in user activity and the supposed poor experiences recorded by developers. James Mabbot disapproved of the concern noting that these individual/ retail consumers are not the drivers.
Instead, Businesses partnering themselves are the drivers of Metaverse advancement.
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