Recently, brands have been entering Metaverse one after another . With these preferences, brands are entering the unexplored territory yet. That’s why they need guidance. That’s exactly where the Chief Metaverse Officer helps brands.
While the last crisis affected many businesses, it also provided an opportunity and growth opportunity for Metaverse. More people have started working from home during the 2020 quarantines. There has also been a trend towards video games and other digital methods for entertainment. This has led to an increase in interest and investment in Metaverse. However, experts estimate that in just a few years, 1 in 4 people will spend at least one hour a day on the Metaverse. But most brands are still trying to figure out how to improve in this new and confusing space. Web3 strategists or Chief Metaverse Officers will assist businesses here.
What Is a Chief Metaverse Officer?
Managers of brands such as Ralph Lauren and Gucci oversee Metaverse projects. But other companies hire Metaverse experts privately. These individuals are recruited with the experience and knowledge to guide businesses through Metaverse. Chief Metaverse Officer is defined as an employee with experience in the tech industry with deep knowledge of video games and Web3 .
Cathy Hackl is probably one of the best known names in the industry. She is a Web3 strategist and technologist. Hackl is also the founder and Chief Metaverse Officer of Journey. She’s working 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. It also knows how to find programmers, animators and other creators to help bring projects to life.
Experts should also have a deep understanding of how Metaverse can be integrated into a company’s marketing, sales and product strategy. This is essential for companies looking to make money on the Metaverse. Heck predicts that progressive brands will have a Chief Metaverse Officer on their staff within the next two years. Therefore, companies that do not want to lag behind in the industry need to start thinking about how Metaverse can benefit their business.
Brands and Metaverse
Fashion is the industry that invests the most in Metaverse alongside video game developers. Globally recognized brands such as Nike, Dolce & Gabbana and Louis Vuitton use Metaverse technologies. These brands are the first to debut virtual apparel that can be worn in video games. Puma recently announced the launch of its Metaverse experience at Black Station, its digital showroom that allows the brand to showcase some of its most creative designs. There are dozens of other examples, but this is not limited to the fashion industry. In another example, Starbucks recently introduced coffee-themed NFTs linked to its loyalty program.
While Web3 offers many opportunities, it is still a new and confusing area for businesses to transition. Tech brands have very few experienced employees working on their projects. There is a lack of awareness and understanding of how Metaverse can be used by businesses to generate revenue, build customer loyalty and create new experiences. However, in order to overcome this, brands must agree with the Chief Metaverse Officer.
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