KPMG Australia appointed Alyse Sue as the Head of Metaverse Futures, the newly-created role within the company. The Big Four giant aims to create a multimillion-dollar business in the metaverse in the following years. The initial "deadline" was set for 2025. The firm hasn't shared specific revenue goals, though.
"We'll be looking at technologies related to metaverse, like crypto, NFTs, DAO, VR and AR and seeing how we can find new revenues of growth for the firm," explains Sue, who rejoined KPMG after serving as a senior adviser on the company's Innovate team from 2012 to 2015, then co-founding several startups, including Transhuman Coin, and next working as a software engineer and the Head of Web3 in Palo IT.
KPMG derives its revenue primarily from consulting and advisory services. However, according to the new Head of Metaverse Futures, the company could expand its business operations to web3-based models, including selling digital services and products. Sue observes that the metaverse global market size could soon range between US$8 trillion to US$13 trillion.
Recently, KPMG has been receiving an increasing number of inquiries from clients interested in the applications of the metaverse and web3-related technologies. The company has also ventured into the crypto industry by establishing KPMG Origins, a blockchain-based track-and-trace service for assisting trading partners in cross-border operations.
The giant expects a rapid uptick in the use of virtual technologies driven mainly by B2B applications. "I think there will be an explosion actually in terms of uptake and use and applicability of these technologies as well," said James Mabbott, Partner in Charge at KPMG Futures, referring to metaverse-related solutions in a statement for CoinTelegraph.