""Although most brands have experimented with emerging tech, there is still a lot of IDK and WTF attached to AR, VR, AI, ML, NPC, NFT and web3," said Laws. "When you think that the metaverse and its associated technologies are projected to be worth almost $1.5trn dollars by 2029, that's either a lot of growth to miss out on or a lot of mis-invested budget for brand leaders to be accountable for through poor understanding and unfamiliarity.""
""Reality has been designed to de-risk that investment and unlock the value for brands by translating what these emerging and maturing technologies can mean for customers. Although we are emerging technologists, really we want to get technology out of the way and focus on needs based adoption." According to an agency spokesperson, the studio will focus on three principal areas: AR, 'synthetic experiences' including virtual humans and brand avatars and 'decentralized experiences' such as NFT design and web3 applications."
"The studio is to be led by Dickon Laws, Ogilvy's global head of innovation, and will provide an "innovation translator, pathfinder and risk navigator" service to the network's clients. Laws estimated that the wider market linked to the studio's tech expertise would be worth $1.5tn by the end of the decade. Laws will report up to Clare Lawson, Ogilvy's chief executive officer for experience in Europe, the Middle East and Africa."
Ogilvy has launched Reality, a digital experience lab researching and creating applications of AR, VR and NFT technologies. The studio will be led by Dickon Laws and will act as an "innovation translator, pathfinder and risk navigator" for the network's clients, aiming to de-risk investments and translate emerging technologies into customer-focused solutions. Laws estimated linked markets could reach $1.5tn by the end of the decade. Reality will concentrate on AR, 'synthetic experiences' including virtual humans and brand avatars, and 'decentralized experiences' such as NFT design and web3 applications. Ogilvy has not disclosed staff numbers.
Read at The Drum
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