Chief metaverse officers are getting million-dollar paydays. So what do they do all day?

Nike Inc bought a virtual sneaker company and created a world modelled on its real-life headquarters. Starbucks Corp is introducing coffee-themed NFTs, or non-fungible tokens, linked to its customer-loyalty program. Walmart might create its own cryptocurrency. — AFP Relaxnews

Advertising giant Publicis Groupe SA introduced the newest member of its C-suite at a technology conference in Paris this year. He goes by Leon. He’s the chief metaverse officer.

Publicis wants Leon to help blue-chip clients like Walmart Inc, UBS Group AG and Nestle SA understand what the blockchain, NFTs and a more immersive internet experience could mean for their businesses. The stakes are potentially big: McKinsey & Co consultants estimate that annual global spending related to this virtual landscape could reach as much as US$5 trillion (RM22.84 trillion) by 2030.