New technology is redefining the CMO title to include the metaverse

Manasvi’s position on LinkedIn may be informal right now, but the role of CMO is rapidly increasing among corporates around the world. These individuals lead corporate strategies to build the metaverse of the future, a sustainable virtual economy powered by VR and AR and allowing commerce through blockchain-based digital currencies.

According to Manasvi, India already has eight to 10 CMOs, some of whom have been officially named, while others are serving in similar roles and overseeing their firms’ metaverse strategy. “The role of CMO will require the individual to understand both the creative and technical aspects. He will be responsible for helping in seamless product creation, adoption and user experience,” he said.

Ninad Chhaya, co-founder and chief operating officer of Mumbai-based GoPhygital, a startup that offers digital products including those using AR, VR and AI, said the firm’s focus is on emerging technologies such as VR and AR, including The emphasis is on gamification. , Chhaya was the co-founder and creative director of IndiaGames, which was acquired by Disney in 2013.

“Companies entering the metaverse rely mostly on external partnerships, but may soon hire internal experts to lead such strategies,” said Chhaya. Those who have experience and know-how in computer gaming, Web3 environments and more, who can eventually be skilled to take on the role of CMO, Chhaya said.

Web3 refers to the third generation of the Internet, moving away from centralized servers and powered by blockchain-based technologies such as decentralized finance and non-fungible tokens. The Metaverse is essentially a way for users to experience Web3, similar to the way we experience the current World Wide Web through websites.

Manasvi and Chhaya will get along very soon in this area. Niti Sharma, Senior Vice President, staffing firm TeamLease, said that 15-18% of CIO, CTO roles being sought today, there is a need for individuals who will be able to manufacture Metaverse products for well-equipped C-suite individuals in the sector and C. -Suite individuals to be able to lead hiring activities.

“By 2025, 8-10% of companies in India should ideally have a CMO, or a person in a similar role, to lead the metaverse strategy in the super-digital era,” she said.

According to Sharma, the trend will be pronounced in the IT/ITES, gaming, fashion, retail, communication and design industries, which have started recruiting such leaders for their businesses. He said CIOs, CTOs and other digital executives with creative minds would be best suited for this role. Even traditional chief marketing officers can be skilled for the metaverse role by training in cloud computing, blockchain, gaming and cryptocurrency.