Source: news.google.com
Dept has formalized its Web3 offering with the launch of a 300-person global team and co-branding dedicated to blockchain, metaverse and NFTs.
Called Web3/Dept, the co-branding aims to position the digital agency as a marketing leader in virtual worlds and blockchain technology.
“We want to be the reference agency for Web3,” said Isabel Perry, Web3 Vice President/Dept. “We’re in a really strong position in the market to be competitive and get it done.”
Dept is aiming to get 20% of its revenue from Web3/Dept by 2025, a marked boost from the 5% of revenue (over $29 million) it now brings in. He also expects to grow Web3/Dept to over 1,200 employees in that same time period.
After developing dozens of Web3-focused projects for brands like H&M and Sprite, the Web3/Dept team will continue to spend much of their time explaining the misunderstood branding potential of blockchain technologies, immersive web experiences, AR, VR , games and the metaverse.
To help with that educational process, Dept is also launching Web3 Labs, a nine-step course designed to educate Dept clients and employees about blockchain. Customers who purchase the lessons and employees will have experience redeeming, trading and minting NFTs, Perry said.
As new concepts and ways to use blockchain technology emerge, education will be a mainstay of what Web3/Dept does, but Perry expects it to have a narrower focus by 2025.
In addition to their consulting work, Web3/Dept will create metaverse experiences and strategize for launching NFTs.
“When we introduced this to customers, they had no idea that one company does so much,” Perry said.
Perry leads the team along with Vice President Brandon Aaskov. Perry will focus on operations, strategy and sales, while Aaskov will lean towards the technical engineering side of applying Web3 technologies. Fifty percent of Web3/Dept is based in the US.
One of Web3/Dept’s oldest projects is to build a virtual world by 2025 called Translucia, a $100 million metaverse company started in 2021 by Australian team Two Bulls/Dept and T&B Media. Translucia’s goal is to reinforce and reward positive behaviors like fitness and healthy cooking.
“There are economists employed to see how you create a self-sufficient virtual economy,” Perry said.
The department has more than 3,500 employees worldwide and reached $500 million in revenue by 2022.
Read More at news.google.com