Overheard at the DPAA Global Summit
- Kerry Flynn, author of Axios Pro: Media Deals
A slide from Adidas' presentation at the DPAA Global Summit. Photo: Kerry Flynn/Axios
Metaverse and web3 expertise captivated an audience of marketers specializing in digital out-of-home ads at the DPAA Global Summit on Tuesday.
Why it matters: While metaverse has become a buzzword that's somewhat lost meaning, many marketing executives seem to have a genuine interest in investing in the business.
Details: At the event, Adidas Originals' VP of brand communications Erika Wykes-Sneyd presented on the company's NFT drops, partnership with the Bored Ape Yacht Club and other web3 work.
- "This is not a marketing activation for us," Wykes-Sneyd said. "It can be that, but we're really going to turn it into a business driver."
- After the 25-minute presentation, an audience member asked how companies could explore similar work and if it required hiring one person with a $1 million salary, pulling from a recent Bloomberg report.
- Wykes-Sneyd said that Adidas' efforts began with a task force of interested individuals already at the company. This came after Elon Musk tweeted last year that Tesla will accept bitcoin payments.
The bottom line: "There's a real hopefulness and opportunity in the space," Wykes-Sneyd said. "Start to look past [the negativity] because once you do, you will be more unlocked to the opportunities this younger generation is really, really searching for. They're going to make it happen with or without us."