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Chief Metaverse Officer

Navigating the Chief Metaverse Officer role

With the transition from Web 2 into Web 3 and the Metaverse, the Chief Metaverse Officer (CMetaO) serves as a new role to support emerging technology. Beyond introducing a new role in the C-suite, what does a CMetaO really do? Unlike established roles such as CEO, CMO, and CFO, the CMetaO role is new territory. Like the Metaverse, the role is in its infancy. Before implementing the role, responsibilities must be defined. While there are a lot of opinions about what the role is and isn’t, pioneers in this space broadly characterize CMetaO responsibilities as education, dissemination, and implementation.

Education

The CMetaO serves as the organization’s authority on the Metaverse, gaining an understanding of the landscape, and becoming knowledgeable in an area in which no one has a background. Education includes learning where to find educational content, experimenting with different platforms, and translating what’s learned to support business requirements.

Information Dissemination

After gaining knowledge and developing a sense of the Metaverse, The CMetaO shares that information across departments with other executives in an organization. Then, it’s time to start developing a strategy for effectively using the Metaverse to help the organization thrive.

Implementation

Currently, organizations can use the Metaverse as an activation (a closed miniverse) or a destination (an intraverse).

The advantages of using the Metaverse as an activation:

  • It’s great for lead generation (the service provider delivers leads)
  • It supports the awareness phase of the customer journey

The disadvantages of using the Metaverse as an activation:

  • Buying or leasing space in someone else’s miniverse
  • Can’t control the messaging, content, target audience, or user experience
  • Find competitors in spaces right next door
  • Supports only the awareness phase of the customer journey
  • There are no internal use case

Using the Metaverse as a destination, organizations can:

  • Have their own spaces to design and control
  • Customize the content and messaging to target leads
  • Control all phases of the customer journey
  • Allow teams to meet and collaborate in various internal use cases

Factors affecting the Chief Metaverse Officer role

The role isn’t uniform. There isn’t a set, mutually agreed upon definition of what the role entails. What the CMetaO role looks like and how the role changes over time (and the resulting strategy for using the Metaverse) depends on:

  • How the Metaverse evolves
  • The background of the person filling the role
  • The organizational business model and industry

The evolution of the Metaverse

The current iteration of the Internet (Web 2) offers full-time access to the web through static, linear, 2D channels including websites, social media, and video communication platforms. Web 2 provides digital spaces for distributing and consuming content. It’s easy to contribute content across channels, but these channels control the content submitted and how it’s used. Current technology is efficient for project-based use, but users suffer digital fatigue. These channels don’t support natural, spontaneous communication and collaboration based on intentional experience design. The human element is missing from the interaction.

The Metaverse, the next iteration of the Internet, is changing the way we do everything. We’re moving from passive content consumption and basic communication to experience-based connection and collaboration. The Metaverse incorporates evolving augmented and virtual reality, artificial intelligence, blockchain, and 5G networks coming together in 3D environments to support intentionally designed experiences and bring the human element into digital interaction. The Metaverse represents a fundamental change in technology, infrastructure, user experience, intellectual property, and sustainability. Businesses will have much more autonomy in the Metaverse. Individuals and teams will be able to meet with anyone from anywhere, control their own data, and provide their own experiences. With the Metaverse, the digital world overlaps the physical world.

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Professional background affects the Chief Metaverse Officer role

CMetaOs’ individual backgrounds will affect how they approach the role. If CMetaOs have background in IT, the role may involve vetting Metaverse options available, security, protocols, adoption curve, and business fit. For CMetaOs with background in marketing, it’s about adopting platforms or strategies that help organizations in lead generation or external positioning of the brand. For CMetaOs coming from a Chief Innovation Officer (CINO) role, it’s about taking advantage of future technology and staying ahead of the curve.

Business model and industry affect the Chief Metaverse Officer role

An organization’s business model and industry make a difference in terms of when and how it’ll adopt the Metaverse. On the early adopter end of the scale, things move quickly. CMetaOs in the B2C product space will be quicker to experiment with new technology and accept more risk earlier — especially if their consumer base is jumping on the technology and they’re trying to beat their competition.

Somewhere In the middle of the adoption scale, CMetaOs in industries such as education may move more slowly, asking questions such as:

  • How does the technology fit with the business requirements (academic versus corporate education services)?
  • How does the technology affect content delivery?
  • How do instructors and students interact?
  • Is it easily accessible?
  • Is it scalable?

On the late adopter end of the scale, CMetaOs in B2B, such as enterprise corporate finance, will be more cautious. CMetaOs may consider brand positioning and experimentation in a safe, small way to gain experience that would help guide clients. They’re not investing the entire company — instead being very careful, learning to crawl and walk, long before they consider running.

Moving forward as a Chief Metaverse Officer

Next steps:

  • Understand that the Metaverse is bleeding edge technology
  • Understand the industry and its adoption rate
  • Identify their organization’s tolerance for risk
  • Get started with the right technology

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FAQs:

  • How the Metaverse evolves
  • The background of the person taking on the role
  • The organizational business model and industry

Both the Metaverse and the role are emerging. As the Metaverse evolves, so the CMetaO role will evolve to ensure the Metaverse is an effective tool in supporting business requirements.

  • Understand that the Metaverse is bleeding edge technology
  • Determine how the Metaverse relates to your business
  • Understand your organization’s tolerance for risk
  • Start with the right technology

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