The Immersive Wire - 3 July 2022 (Sunday edition)

The Immersive Wire - 3 July 2022 (Sunday edition)

July 03, 2022

29 June 2022 // by Tom Ffiske

Metaverse and VR/AR analysis every Wednesday and Sunday

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TOP STORYLayoffs and cresting markets

Niantic and Unity cut back its workforce ahead of tough times.

  • In an email seen by Bloomberg, Niantic's CEO wrote that the company was 'facing a time of economic turmoil' and looked into 'reducing costs in a variety of areas.' Meanwhile, Unity laid off hundreds of staffers in the same week.

  • The uncertain economic outlook prompted many organisations to get lean and read for a rocky future - including Meta, who slashed hiring plans.

  • How long will it last? Economists disagree on its length. Some bear markets dip then bounce back up, while others skittering downwards for months on end. Blockworks optimistically thinks we are halfway through already, but the persistent supply-side issues may lengthen it.

  • I am no economist myself. My only perspective is that talented workers are let go during uncertain times, with ongoing ramifications for their families and livelihoods. My hope is that they find roles soon.

  • But there is hope. One lawyer tells me that innovative companies tend to rise above markets conditions, as companies shift from ad spend to identifying new revenue sources. We may see new (or current) companies bounce back from 2022 stronger than ever.

 Wimbledon launched its Centre Court in Roblox, called

  • Fervant fans can also buy items from the Wimbledon Ralph Lauren 2022 collection, as layered clothing. Even Andy Murray will appear there as well.

  • I like it. It's a fully integrated campaign that taps into the young and highly-engaged Roblox audience as the competition heats up. I can also see the items having some value after the competition; though it is still linked to the success of the Roblox platform, so if that dips, then so will the value of the items as well. I wonder if other sports organisations will follow as well.

How is the market going to pan out? Join the discussion and meet like-minded professionals on the

On 7 July, I am launching The Marketer’s Guide to the Metaverse. If you are a subscriber to the newsletter, you will receive a free report on how to prepare for the future, with contributions from pioneering experts in the industry. To celebrate, I am delighted to invite you to PwC's offices to learn about marketing and the metaverse, with networking drinks after.Attend the launch event in London.

OTHER STORIESOn hold

The Q&A section is on hold this week as, by the time you read this, I will be recovering from a friend's lovely wedding in Austria (below is a picture of me with my girlfriend). See you next Wednesday!

That's all for this week! Want to have a chat, let me know about a news story, or talk business? Either reply to this email, or contact tom (at) immersivewire (dot) com. Have an excellent day!