Brands are entering the Metaverse. They’re entering uncharted territory, so they need guidance. That’s where Chief Metaverse Officers come into play.
While the recent crisis has impacted many businesses, it has also been a time of opportunity and growth for the Metaverse. During the 2020 lockdowns, more people worked from home and turned to video games and other digital escapism for entertainment.
That has led to a surge in interest and investment in the Metaverse. So much so that experts predict that in just a couple of years, 1 in 4 people will spend at least an hour a day in the Metaverse. There’s money to be made in the Metaverse. But most brands are still trying to figure out how to navigate this new and confusing space.
That’s where Web3 strategists or Chief Metaverse Officers come in.
Interestingly enough, fashion brands have invested most in the Metaverse, besides video game developers. Global heavy hitters like Nike, Dolce & Gabbana, and Louis Vuitton are all debuting virtual garments that can be worn in video games.
Puma recently launched their Metaverse experience in Black Station, its digital showroom, which allows the brand to showcase some of the most creative designs. There are dozens of other examples, but it’s not just fashion.
Starbucks has introduced coffee-themed NFTs that are linked to its loyalty program.
Brands are in Need of Guidance
While Web3 offers many opportunities, it’s still a new and confusing space for businesses to navigate. Few people have experience with the technology and those who do work on their brands and/or projects.
Is there a lack of talent? No. There’s a lack of awareness and understanding of how the Metaverse can be used by businesses to generate revenue, build customer loyalty, and create new experiences. This finally gets us to Chief Metaverse Officers.
Brands like Ralph Lauren and Gucci have their executives overseeing Metaverse projects. However, other companies are hiring Metaverse specialists.
These people have the experience and knowledge to guide businesses through the Metaverse. Chief Metaverse Officer would be someone with experience in the technology industry with deep knowledge about video games and Web3.
Cathy Hackl is possibly the most well-known name in the space. She’s a Web3 strategist and tech futurist. Hackl is also the founder and Chief Metaverse Officer at Journey. She’s worked with Magic Leap, HTC, and Amazon to help them understand how to best use Web3 technology.
Chief Metaverse Officers have experience with Metaverse-specific platforms and content and know how to find programmers, animators, and other creatives to help bring projects to life.
They also deeply understand how the Metaverse can be integrated into a company’s marketing, sales, and product strategy. That is vital for companies who want to make money in the Metaverse.
Heck anticipates that progressive brands will have a Chief Metaverse Officer on staff within the next two years. So, if you’re looking to get ahead of the curve, now is the time to start thinking about how the Metaverse can benefit your business.