Quick take:
- The company’s global network, EY wavespace, has expanded to the metaverse.
- It has also launched a metaverse lab to enable rapid testing and scaling of new ideas and business models.
- Both EY wavespace and metaverse lab will help clients identify metaverse opportunities, tax and legal considerations.
Ernst & Young LLP (EY US) today announced that EY wavespace, a global network that gives clients the ability to bring teams together, has expanded to the metaverse. This increases the network’s ability to help clients co-innovate and address any business challenge.
EY wavespace brings together business, design and technology so that clients can leverage its experiences in their preferred dimension – whether in-person, virtual, hybrid, and now in the metaverse – to foster deeper collaborations.
Along with this announcement, EY US has also established a metaverse lab where technologists build customised metaverse environments for various use cases.
Skilled at 3D design, web animation, game development, art direction and human experience design, the team of technologists integrate these skills with deep knowledge and experience in artificial intelligence (AI), internet of things (IoT) and digital twin robotics to create extended reality environments that can meet the social and business needs of any industry or sector worldwide.
Solutions designed in the EY metaverse lab include capabilities across all platforms ─ the web, augmented reality (AR), virtual reality (VR) and mixed reality (MR) ─ and are customized per industry and client. Solutions for industrial clients, for example, include capabilities such as virtual supply chains and smart factories.
Together, EY wavespace and the EY metaverse lab are guiding clients through the multitude of immersive digital experiences, including testing and scaling of new business models and shifting to a decentralized economy arising out of Web3-based applications and platforms.
Along with blockchain and metaverse capabilities, EY teams are advising clients on how to execute robust strategies that are inclusive of new business models, technology interoperability, new transaction platforms, enhanced customer and community experiences, and risk mitigation – including tax, legal and regulatory considerations.
“The EY organization operates at the intersection of business and technology. By utilizing the EY metaverse experience, businesses can now test the art of the possible and tap into the unlimited potential of this new space. EY teams are committed to helping businesses understand what the metaverse means for them and how to strategically adapt new business models for the transition to a decentralized economy,” said Jay Nibbe, EY Global Vice Chair – Markets.
Ernst & Young joins fellow Big Four firm KPMG in expanding its services to the metaverse to help clients navigate the virtual world. In June, KPMG Canada opened its metaverse collaboration hub to lead its people and clients into Web3.
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