With the rise of Web3 and metaverse marketing last year, a new role emerged for brands committed to the virtual space: chief metaverse officer. Disney, Procter & Gamble, LVMH, Gucci, Epic Games and Crate & Barrel were just a few of the numerous marketers that appointed variations of the position.

But in the time since this frenzy, Web3 has mostly faded from the limelight—partly because of diminishing interest, as well as unclear returns on investment exacerbated by macroeconomic headwinds. Disney last month shuttered its entire metaverse team, while Meta—supposedly one of the most serious advocates of the virtual ecosystem—ended its short experiment with NFT functionality. 

Read more: What Disney's metaverse exit means for Web3

Such fluctuations have thrown doubt on the viability of a chief metaverse officer. Disney, for example, doesn’t seem to need a metaverse czar—a position previously held by Mike White, who remains at the media company although in a different, undisclosed role. Disney did not respond to a request for comment.

Other brands, such as Gucci and Epic Games, have seen their metaverse leaders depart and may not be looking to replace them. Then there are marketers including American Eagle, which quietly removed the term “metaverse” from a job title that previously contained it, in order to broaden the position’s focus.

Even Journey’s Cathy Hackl, who co-founded the design consultancy and rose to popularity last year as one of the first chief metaverse officers, has expanded her role beyond the virtual realm. While she maintains her initial title, she also recently took on the title of “chief futurist” to widen her remit to other emerging tech such as gaming and AI, she told Ad Age.

Read more: How Cathy Hackl leads as a metaverse architect

“Given that the [metaverse] opportunity seems to have shrunk while other business interests have emerged…you see companies rationalizing those investments and several have reduced the focus they’re putting on metaverse campaigns,” Matt Moorut, director analyst for Gartner’s marketing practice, wrote in an email. 

“There’s still an opportunity,” he added, “but not as many senior leaders see it as one worth pursuing with a senior role in place to lead the charge.”

Changing of the metaverse chief

If anyone was to be a chief metaverse officer, Journey’s Hackl fit the bill, thanks to her numerous accomplishments in the space and her enthusiasm for its potential. But as she turns her attention to other technologies, in particular AI—which has arguably usurped attention from Web3—there is reason to believe her role as chief metaverse officer is taking a backseat. Moreover, Hackl noted that she was freed up thanks to a recent hire who will serve as managing director of Journey’s virtual studio. Offloading some of the duties of the chief metaverse officer could be one way for a brand to retain the position while decentralizing its importance.   

“This dual role also allows me to pursue my work in strategic foresight in a more focused way and work across Journey's studios across physical and virtual offerings,” she wrote in an email.

Other brands that have experienced a shuffling in their metaverse leadership include Gucci and Epic Games. Robert Triefus left Gucci in April after serving an eight-month stint as chief executive of Vault and metaverse ventures. Vault houses rare Gucci pieces and tends to tie in virtual activations; for example, last October the brand opened a virtual Vault store in The Sandbox. While Triefus left Gucci for a non-metaverse role elsewhere, the fashion house has yet to indicate if his former position will be filled. Gucci did not return a request for comment.

Likewise, Epic Games has yet to indicate a replacement for its VP of metaverse development, Matthew Henick, who departed the company in January. Henick joined Epic from Facebook in October 2021, for the purpose of figuring out the gaming company’s role in the metaverse, with a focus on the space’s policies and economics. Epic declined a request for comment, and Henick’s reason for leaving the company remains unclear.

Still, as echoed by Hackl, a company reorganization does not imply a turning away from virtual spaces. Gucci last month teamed with Vans for an experience on Roblox, and in March it inked a deal with Bored Ape creator Yuga Labs to bring digital fashion to Yuga’s metaverse, Otherside. As for Epic Games, Chief Executive Tim Sweeney declared the company was “all-in” on building the metaverse, through titles such as Fortnite, at the annual Game Developers Conference in March.

Deleting ‘metaverse’

American Eagle illustrates a different approach to reorganization: simply delete the term “metaverse” from the title. In February 2021, the brand appointed Nathan Poekert as director of social media, culture and metaverse marketing, but last month that role changed to director of social media, branded content and digital innovation. American Eagle declined a request for comment.

There is reason to believe that the term “metaverse” has acquired negative baggage in the past year, compelling brands to opt for more acceptable terminology. Tim Cook, for example, has said that Apple has avoided the term because the average person does not understand its meaning. Other accounts have found that consumers fear the metaverse—more reason for brands to couch their efforts in different language.

Also read: How Nathan Poekert connects with Gen Z consumers

Web3 terminology has more clearly been cast into doubt with respect to NFTs. Brands, knowing that “NFT” is a turn-off to many consumers, have opted to refer to their tokens as “collectible avatars,” “trading cards” and “stamps.”

Gartner’s Moorut views the de-emphasis of the term “metaverse” as more so a reflection of its actual duties.

“The skillset for a chief metaverse officer is very similar to the one needed for digital transformation work more broadly, which is still a key objective for boards and CEOs,” he said. “Given that, it’s possible we’ll see a diffusing of focus for some chief metaverse officers to better suit the needs of the day for businesses.”

Staying the course

Meanwhile, some brands are staying the course with respect to their metaverse appointees. Creative Artists Agency (CAA), a talent representation company, tapped Joanna Popper as chief metaverse officer in May 2022—a position she still currently occupies, CAA confirmed. That said, Popper more broadly focuses on developing go-to-market strategies for emerging technologies, such as generative AI, according to a person close to the matter.

L’Oréal’s Camille Kroely, who was promoted to chief metaverse and Web3 officer last September, still holds the position, L’Oréal confirmed. Her primary duties include educating people across the company, choosing partners, launching test-and-learn initiatives with pilot brands and scaling successful efforts. The company’s most recent activations include a launch of virtual hairstyles last month and an investment in metaverse startup Digital Village in January.

Furthermore, luxury goods company LVMH confirmed that Nelly Mensah is still its global head of Web3 and metaverse, a position she has held since January 2022. The company declined to provide more information on Mensah’s role, although she is believed to be spearheading metaverse activations across LVMH’s portfolio, such as with Hublot, a timepiece brand that recently built a metaverse inside the Spatial platform. 

Crate & Barrel’s Sebastian Brauer still holds the dual title of senior VP for product design and head of metaverse and Web3—the latter of which he has held since last May. The title that appears for Brauer in press releases, though, depends on the news, the brand said.

For instance, alongside promotions of new products and collaborations, Brauer will appear solely as “senior VP for product design.” His metaverse title will appear in releases that pertain to virtual experiences. This approach echoes Moorut’s view that the duties of a metaverse role can easily be diffused into a broader business focus.

On the agency side, WPP’s Dale Imerman maintains the position of director of metaverse partnerships, which he initially obtained in February 2022, WPP confirmed. The agency declined a request for elaboration on Imerman’s role. 

“Unfortunately, marketing has tainted the word “metaverse” leaving many companies to abandon it, however, the plight in pursuing three-dimensional virtual worlds that provide better digital interactions, experiences and creative outlets continues,” said Emma Chiu, global director of Wunderman Thompson Intelligence, a trend analysis group owned by WPP.