Modern Management
Chief Metaverse Officers Are Getting Million-Dollar Paydays. So What Do They Do All Day?
Disney, P&G, LVMH and other big names have invested in chief metaverse officers to plot a course through the next chapter of the internet. Do companies really need them?
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Advertising giant Publicis Groupe SA introduced the newest member of its C-suite at a technology conference in Paris this year. He goes by Leon. He’s the chief metaverse officer.
Publicis wants Leon to help blue-chip clients like Walmart Inc., UBS Group AG and Nestle SA understand what the blockchain, NFTs and a more immersive internet experience could mean for their businesses. The stakes are potentially big: McKinsey & Co. consultants estimate that annual global spending related to this virtual landscape could reach as much as $5 trillion by 2030.