Ernst & Young (EY), one of the four largest audit firms in the world, announced that it has begun to provide metaverse-based experiences for its clients. Per the announcement, EY aims to provide a differentiated virtual customer service experience with the new technology. Along with its own metaverse, the company has also set up a lab to enable the development of web 3.0 based environments. In other words, EY also wants to develop metaverse applications for other companies and even for clients. To develop its technologies, EY will use Polygon, Ethereum’s second layer network. With this, the company will be able to make scalable and low-cost solutions that also operate on Ethereum.
Blockchain products across the polygon
With its metaverse, EY says it wants the company’s clients to solve business problems. In a way, the service will function like Interpol’s recently announced metaverse, which is focused on improving customer service over the internet. The launch of the metaverse saw EY integrate EY Wavespace, the company’s global customer network platform, with its new platform. Now, virtual services will take place through Web3 through the new system. As EY explained, the move “will expand the network’s ability to help clients innovate together and help quickly address any business challenge.” “The EY organization operates at the intersection of business and technology, testing the art of the possible. By leveraging EY’s metaverse experience, companies can now tap into the limitless potential of this new space,” said Jay Nibbe, EY Global Vice President. It is not the first time that EY has decided to invest in blockchain-related products. In September 2021, the company partnered with Polygon to integrate the network into its core blockchain products and services.
Ernst & Young’s Metaverse Lab
The new Metaverse-based service helps the company’s customers quickly achieve better solutions. Customers can take advantage of Wavespace experiences, whether in-person, virtual or hybrid. In other words, the company will have multifaceted platforms to meet the needs of each client. Additionally, the company created the Ernst & Young Metaverse Lab, which features web, augmented reality (AR), virtual reality (VR) and mixed reality (MR) capabilities. Soon, the new laboratory will be able to provide innovations both internally and for other companies. According to EY, the accounting firm’s initiatives in developing Metaverse-based solutions stem from the great interest of its clients. In this regard, Edwina Fitzmaurice, an executive at the company, said that there is a lot of interest in the metaverse from customers from all sectors and industries. In recent times, some of the biggest organizations have joined the world of Metaverse. For example, BlackRock, the world’s largest asset manager, previously announced the launch of the Metaverse ETF. The product would track companies with exposure to the metaverse, he said at the time. In fact, EY itself has closed partnerships with blockchain networks such as Ethereum. In 2020, the company teamed up with ConsenSys to bring more privacy features to the world’s second largest blockchain.