Prager Metis

Prager Metis is First CPA Firm in the Metaverse

Prager Metis’ metaverse office will offer traditional and nontraditional advisory and accounting services for individuals and businesses in Decentraland

Prager Metis, a leading international advisory and accounting firm with New Jersey offices in Cranbury, Basking Ridge, Fort Lee and Hackensack, became the first CPA firm to officially open its Metaverse headquarters in the metaverse platform Decentraland. A metaverse is an online virtual world that incorporates augmented reality, virtual reality, avatars, video and other means of communications.

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.

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 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 Dec. 28. The Metaverse HQ is a three-story digital structure built by House of Tang and Metaverse Architect, Tangpoko (Tracy Tang). The first floor will consist of an open floor plan that doubles as a gallery space for client NFTs and a large entertainment area. The second floor will serve as a working 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 and 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 want 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 different capacities. As virtual worlds become a more relevant channel for businesses and everyday life, Prager Metis’ expertise in these areas, has positioned them as the go-to firm for complex tax and accounting issues in the space.

“Blockchain and distributed ledger technology is changing the way companies are doing business, and will ultimately impact how we all work and live, so it’s important that any business 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 tokenization’s in the U.S., 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 a quickly becoming a digital twin of our physical world,” says 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 maximize its full potential.”

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