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THE METAVERSE

Agencies scramble to build metaverse expertise to meet client demand

By our News Team | 2022

As marketers realise the potential of the fledgling metaverse to tap into consumer audiences, their agencies are rushing to build capacity.

Marketers are talking more about the metaverse as a new way of communicating with their audiences. So their agencies are beginning to take firm steps to ensure they can provide the necessary metaverse services and know-how.

For example WPP, the global holding group for a range of top advertising and PR agencies, recently announced the formation of The Metaverse Foundry, a global team of 700 creatives, producers, visual artists, developers and technologists it says will design and execute brand experiences for clients in this new world.

WPP says its agencies are already delivering metaverse projects for blue-chip customers such as Under Armour, Duracell, Pfizer, Pizza Hut and Bombay Sapphire.

The Metaverse

Image by Nurudeen Ayaga Alidu from Pixabay

Precise definitions of the metaverse vary at this early stage, but Gartner defines it as a collective virtual shared space, created by the convergence of virtually enhanced physical and digital reality. It provides enhanced immersive experiences, as well as being device-independent and accessible through any type of device – ranging from tablets to head-mounted displays.

Marketing is living through extraordinary change

The Metaverse Factory is being housed within the WPP content production company Hogarth. 

Hogarth’s Global CEO, Richard Glasson, says: “This is a very exciting time to be in the production and content-creation business. We are living through extraordinary change and our clients have whole new worlds to navigate and radically new ways to engage with their customers.”

Newly appointed Executive Creative Director, Mehta Mehta adds: “The Metaverse Foundry is a limitless place where creative, production and innovation come together to bring to life your greatest ideas. A place for future-focused brands that want to build communities, and technologies that are designed to elevate e-commerce and customer experiences.

“In a nutshell, The Metaverse Foundry is built to take ideas to the next level at scale. The only limitation is going to be your imagination. You think it, we’ll make it happen.”

By the year 2026, an estimated 25% of people around the world will spend at least one hour a day in the metaverse for work, shopping, education, social and/or entertainment. This is according to a study released last month by international insights company, Gartner.

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