Prager Metis opens first-ever CPA firm in the metaverse

GGI member firm Prager Metis, a leading international advisory and accounting firm, becomes the first CPA firm to offcially open its metaverse headquarters in the metaverse platform Decentraland. As part of a joint venture with Banquet LLC, Prager Metis’ metaverse office will be located at coordinates (18, 144) in Decentraland and offer real world services that are critical to the metaverse world.

In addition to being an international firm, Prager Metis is a top 40 accounting firm that provides a full range of services including but not limited to audit, tax, consulting, business management and international services. Prager Metis and its team of financial experts focus on industries spanning digital assets, sports, entertainment, music, healthcare, fashion, hospitality, real estate, banking and financial institutions, investment companies and more.

Prager Metis’ metaverse office will serve as a resource for individuals and businesses in the metaverse looking for accounting and financial advisory services, and will provide potential clients with the expertise needed to navigate the metaverse from a financial perspective.

“The opening of a metaverse office reflects Prager Metis’ belief that the metaverse will be the future and that technology will continue to influence the way the world operates,” said Glenn Friedman, CEO of Prager Metis. “Our new metaverse headquarters will serve as a bridge between traditional and digital and offer valuable real world financial services to the metaverse. Our presence in the metaverse shows how serious we are about our vision for the future, and supports our belief that there is a tremendous need for financial expertise and resources in the evolving digital world.” Prager Metis’ virtual real estate was purchased on 28 December 2021. The metaverse HQ is a three-story digital structure built by House of Tang and metaverse architect, Tangpoko (Tracy Tang). The first floor consists of an open floor plan that doubles as a gallery space for client NFTs and a large entertainment area. The second floor serves as a work space with meeting rooms and conference capabilities. The third floor, also serving as the rooftop, is a space where Prager Metis plans to host events and live entertainment opportunities for the community.

“The digital world is evolving at a rapid pace, and while many view the metaverse as the Wild Wild West, it is actually the opposite. It has complex rules and regulations that both businesses and individuals need to adhere to,” said Jerry Eitel, partner of Prager Metis’ Metaverse HQ in Decentraland. “As an international accounting and advisory firm, we are seeing every industry and type of business wants to enter the world of digital assets. With the opening of our office in Decentraland, we are excited to serve as a resource for businesses and individuals who need support navigating the metaverse from a financial standpoint.”

Prager Metis’ international digital asset division, led by Brian Goldblatt, CPA, Industry Leader of Digital Assets, has been at the forefront of this emerging space, including working with cryptocurrency exchanges, mining companies, investment companies, and technology companies in various capacities. As virtual worlds become a more relevant channel for businesses and everyday life, Prager Metis’ expertise in these areas, has positioned the company as the go-to firm for complex tax and accounting issues in the space.

“Blockchain and distributed ledger technology is changing the way companies do business, and will ultimately impact how we all work and live, so it’s important that businesses work with advisors who understand the space,” said Goldblatt. “Prager Metis works with different companies in the digital assets space, from an audit, tax and advisory perspective, including a top three global cryptocurrency exchange in the world, and one of the largest real estate tokenisation organisations in the US, as well as serving a top-five global NFT company. As a leader in the digital assets industry, Prager Metis is constantly expanding, and our experts stay current with industry trends, such as NFT’s, and clients conducting transactions in the metaverse.”

“The metaverse is quickly becoming a digital twin of our physical world,” said Matt Bond, founder and Managing Director of Banquet. “Prager Metis has been immersed in this amazing new economy and culture for the past year now. As opportunities in the global metaverse continue to present meaningful revenue streams from platforms, experiences and transactions, the digital world will remain the next big technology platform and shift the way the world operates. The metaverse and its occupants need the expertise and resources Prager Metis can offer to maximise its full potential.”

The metaverse office will be overseen by Jerry Eitel, Partner of Prager Metis CPAs. Eitel has nearly four decades of accounting experience, and currently leads the firm’s real estate practice group.

About Decentraland

Decentraland is the first fully-decentralised virtual world. Powered by DAO, which owns the most important smart contracts and assets of the platform, Decentraland is a software running on Ethereum that seeks to incentivise a global network of users to operate a shared virtual world. Decentraland users can buy and sell digital real estate, while exploring, interacting and playing games within this virtual world. For further information please visit decentraland.org.

About Banquet

Banquet is a metaverse studio that funds, develops, manages and markets culturally impactful blockchain ventures. In 2021, Banquet hosted virtual experiences featuring tens of thousands of attendees. Their gold “Airspace” puffer jacket was purchased for 20,000 Mana (USD 75,000), the highest metaverse wearable sale of the year.