Last week we held the Madrid module of the Executive Master in Marketing and Sales, a partnership between SDA Bocconi and Esade Business School. The program, co-directed by Marco Aurelio Sisti and Ferran Blanc, is in its 16th edition.
This module, hosted by Esade’s Madrid campus, is focused on CRM and Business Intelligence, Marketing Analytics and Big Data as well as Social Media Marketing. One of the most exciting new workshops in the module is “From Bitcoin to the Metaverse,” taught by Professor Xavier Perez Corominas, who will take students on a journey through the future of marketing and sales to explore what is the metaverse.
This session follows on the insights students’ gained during their trip in September to the exhibition Dalí and the Metaverse in Barcelona, where they learned about the possibilities these technologies offer the world of business. They expanded on these concepts last week with Prof. Perez Corominas.
“Just like the internet, the Metaverse and NFTs technology based on Blockchain will revolutionize the way people and companies will interact and organize themselves, generating new business models and opportunities, whilst rendering many now profitable businesses obsolete,” says Perez Corominas.
We are witnessing revolutions with these technologies and the way they are impacting businesses. The NFTs market generated $22 billion in sales in 2021. Whereas, the metaverse is set to create market opportunity estimated at over $1 trillion in yearly revenues, according to a study by J.P. Morgan.
Victoria Alberto, current EMMS executive student and Senior Public Relations Specialist at Evolve PR who works with gaming companies, shared how her participation in this workshop can be applied to her field: “We work a lot with VR clients and I see now the importance of leveraging relationships in the VR industry because I think in the future it will be extra valuable for myself as a professional. Understanding and being able to provide value in the W3 era will be a key differentiator.”
What we are seeing with the new era of the metaverse is the formation of a community-owned vr world in which the infrastructure is blockchain-based and control is decentralized. Our time is monopolized by the experiences we have online and that is increasingly moving towards these vr spaces like the metaverse. As users migrate daily to these virtual reality spaces, they bring with them a desire to create social status and identity and that is an opportunity for monetization.
The imperative for businesses is to capitalize on these opportunities by developing new business models, and that means bringing in experts who know how to navigate the metaverse and related technologies.
This is where a CMO – the Chief Metaverse Officer – comes in, says Perez Corominas. The new role of Chief Metaverse Officer is becoming more and more necessary at large companies and isn’t leaving anytime soon. But because the world of the Metaverse and Blockchain is so new, younger generations have the potential to grow in this field and become the CMOs of the world’s greatest companies, shaping the future of business.
The Madrid module of EMMS gives students the space to analyze their companies through the lens and understand the opportunities that exist currently.
“This topic helps us keep on top of trends that will dramatically affect our businesses before they happen,” says Mackenzie Minch, Digital Marketing Manager at IoTerop, of what she has learned in the module.
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SDA Bocconi School of Management