Build metaverse foundations: Set people and tech priorities
Companies are prioritizing metaverse hiring, customer research and upskilling as much or even more than their investments in metaverse-related technology. That’s wise, since technology is only an enabler. It’s the accompanying processes and skills that determine its value. Still, consumer uptake for many metaverse-related technologies is surging. Twelve percent have bought a VR headset in the previous two years, and VR is just one way to enter the metaverse. Apps can increasingly enable metaverse experiences through your laptop or phone. The speedy advance of VR, web3, blockchain, crypto, NFTs and other technologies that enhance metaverse activities may be a sign that the metaverse itself can grow and scale quickly.
“I think exploring nature, maybe planning a trip through the metaverse would be really interesting, a way to get a taste of what I want to do in real life.”
Do you have the people + tech to power your business strategy?
Companies are beginning to create and hire for roles focused on the metaverse and digital assets, along with investing in tech building blocks like tools for building virtual environments.
“All new things are scary at first. We must experience and allow trials to convince people that the metaverse is here to stay.”
Companies are also advancing on related organizational changes. Thirty-two percent plan to hire or appoint a “metaverse leader,” and 51% already have designated roles that focus (even if not always exclusively) on metaverse activity. Similar numbers have roles focused on cryptocurrency or NFTs. The rise of these roles is encouraging, but real metaverse value requires more than assigning responsibilities to a tech visionary. You need structures to combine skills, technology and internal processes to deliver metaverse business outcomes.
Note: Totals may not add up to 100% due to rounding.
“Innovation and technology will be key to achieve a reliable, high-quality and safe metaverse.”
What your company can do
- Get payback today and position for tomorrow. As you focus on those metaverse elements that can provide immediate benefits — whether through brand building, e-commerce, data gathering or an enhanced work environment — make sure that you’re also building toward a fully immersive metaverse that is expected to cross multiple, interoperable environments tomorrow.
- Invest flexibly in the tech. The metaverse works best with specialized technologies, but it doesn’t always need them, and most have other applications as well. Cryptocurrencies, for example, are used outside the metaverse — and some metaverse transactions work fine with credit cards. The right organizational approach to metaverse technologies can enable flexibility and offer both near- and long-term benefits.
- Make your design unbounded. Just replicating your existing office or web presence in the metaverse isn’t worth the effort at this point. Instead, use the metaverse as an additional dimension of your corporate and brand expression and a chance to rethink ways of working, engaging customers and strengthening your brand and workforce experience to take full advantage of an all-new, immersive digital world. Make sure that there is baseline consistency among your channels and digital presences so that you do not dilute your brand.