In this episode, we dive into the world of Web3 and its potential impact on marketing. Joeri talks to Hope Frank and Elliott Jobe, the CMO and the Co-Founder / CIO of Infinite Reality, a company that helps businesses understand and embrace Web3 technology. They discuss the future of the Metaverse, the importance of ownership and IP rights, and the potential of NFTs in marketing. Tune in to learn about the opportunities and challenges of Web3 marketing and how you can leverage this emerging technology for your business.
The Metaverse: Exploring the Next Frontier of Technology
As technology continues to advance at an unprecedented rate, the concept of the Metaverse has emerged as a popular subject of discussion. But what exactly is the Metaverse, and what does it mean for businesses and consumers? In this podcast episode, three experts in Web3 technology delved into these questions and more, providing valuable insights into this exciting new frontier.
Defining the Metaverse
The podcast begins with an explanation from Hope, CMO of Infinite Reality , who defines the Metaverse as a shared virtual space where people can interact with each other and digital objects in real-time. While often associated with gaming and entertainment, she notes that its applications extend far beyond these areas. Elliott, CIO of Infinite Reality adds that the Metaverse represents a shift from the current internet's focus on content consumption to an internet where people can create and interact with content in more immersive ways.
Barriers to Entry
The experts then delve into some of the challenges facing the development of the Metaverse. Elliott notes that high-quality content creation, technical requirements for building immersive environments, and user adoption are all significant barriers to entry. Hope adds that standardization protocols and technologies are also necessary to facilitate interoperability between different Metaverse platforms.
As hype around the Metaverse grows, businesses must find ways to navigate through it effectively. Elliott suggests focusing on practical applications that solve real-world problems such as better collaboration tools or more immersive customer experiences. By doing so, businesses can avoid getting caught up in hype and instead build solutions that offer real value for their customers.
In conclusion, both experts agree that removing distance is one key factor driving value in areas such as media and entertainment, e-commerce, communication, and gaming. Hope highlights that long-term investment will require providing meaningful experiences by giving brands and content creators greater control over their message and customer base. The experts believe that ongoing collaboration and innovation will be necessary to unlock the full potential of this exciting new frontier.
In summary, as we continue exploring new frontiers in technology advancement, understanding how we interact with each other within digital spaces becomes increasingly important. The Metaverse represents an emerging technology with vast potential to transform how we interact with each other digitally. To fully realize its potential benefits while avoiding hype-driven pitfalls along the way requires practical application focus while collaborating towards common goals across various industries.
Hope Frank is the chief marketing officer of Infinite Reality (iR) and Infinite Reality Studios. iR is a leading global technology and entertainment innovation company. The company develops world-class Metaverse experiences that continuously redefine the possibilities in connected digital environments. Built on decades of Hollywood production heritage, iR is a leader in delivering ground-breaking immersive experiences for clients across broadcasting, sport, entertainment, education, government, energy, and renewables.
Her twenty-five-year global strategic marketing tenure includes launching ESPN HD, the Starbucks WiFi network, and the preferred analytics program for Facebook. She was selected by Forbes & CEO World as a top 50 CMO. She is an executive board member for Influential, the leading influencer marketing platform in the world. She is also CMO and consulting producer for Brave Blue World, streaming globally on Netflix.
Elliott Jobe is the chief innovation officer and co-founder of Infinite Reality, Inc. (iR), the Metaverse Innovation and Entertainment Company established at the beginning of 2022. During the early days of the pandemic, Elliott partnered with experiential director/producer Helix Wolfson to bring Burning Man 2020 to life as a live interactive virtual festival experience. The event attracted tens of thousands of creators and attendees and was the launch pad for what would become the most easily adoptable and highest-quality visual Metaverse platform in the market.
Elliott launched his own independent studio in 2003 post producing three groundbreaking documentaries with Oliver Stone, a fine art film, Ashes and Snow, edited by Oscar winner Pietro Scalia, and dozens of music videos working directly with artists including Prince, Usher, and Lenny Kravitz. Elliott and his studio developed new visual technology that was integrated in marketing campaigns for major brands like Coke, Apple, and Disney.
Elliott’s studio produced some of the first photo-realistic CGI marketing work for brands such as General Motors, Bell Helicopter, and Toyota long before digital backend production became mainstream. Thanks to his studio’s leading-edge photorealistic work, Elliott is considered a pioneer in live-action digital set work, earning patents related to both live-action lighting and compositing. Creatively, his work has won several Sports Emmy Awards, a Key Art Award, and over a dozen PromaxBDA Awards.
Elliott’s career was established at renowned 525 Studios Hollywood during the summer of 1996. Elliott helped create never before seen visual effects leveraging new technology for music videos in collaboration with directors Mark Romanek and Michel Gondry, feature films with David Fincher and Warren Beatty, and experimental music projects from Dave Navarro of the Red Hot Chili Peppers and Ray Manzarek of the Doors.
KEY HIGHLIGHTS (see clickable version on www.cmo-stories.com)
[00:44] Who are Hope Frank and Elliott Jobe?
[01:48] What inspired you to start or join Infinity Reality, and what are your goals as CMO and CIO?
[10:42] How does Infinity Reality compare to other Metaverse and Web2 companies in terms of standing out?
[14:11] What opportunities do you see for B2B brands in the Metaverse?
[29:31] What are the potential obstacles for newcomers to join the Metaverse, and how can these be overcome to make it accessible for everyone?
[37:16] What trends or evolutions do you predict for the Metaverse industry, including your own business, in the next 2-3 years?
[44:37] Where can listeners find more information about the Metaverse and your business, such as social media channels or websites?
"The thing that really drives the adoption of any technology is the human nature side of it, which is, how does this make my life better?" - Hope
"We're talking about enabling a kind of creator economy or a creator class where people are able to come in and tell their stories directly to their audience." - Elliott
"We see a world where these experiences are fully integrated. We see a world where it's as natural to buy something in a digital or virtual store as it is in the physical world." - Hope
"What is it that we can do in a virtual environment that we can't do in a physical environment? And the reality is that there are lots of things that we can do." - Elliott
"With Web3, we're talking about a new way of interacting with our customers, where it's not so much about selling products as it is about creating an experience." - Hope
"It's really about empowering the customer to have control over their own data, their own experience, and their own choices." - Elliott
"We need to make it that simple. It's a better experience. It's a sense of belonging. It's a richer experience because this generation has no desire to just scroll through a flat website." - Hope
Warner Bros. Discovery Sports and Infinite Reality, Inc. Launch Innovative New Partnership - https://youtu.be/LnkqcpfLSIc
UCI Track Champions League - The Metaverse Preview - https://youtu.be/Plu5UlhTzII