CAA Head of Business Development Michael Yanover insisted that the Metaverse and NFTs are not fads or the latest technology trend, but are in fact "here to stay."

"It's a big space and I don't think it's going away at all," Yanover said of the Metaverse of TheWrap’s "Tech vs Media" podcast with host Richard Wolpert, adding that CAA recently hired a Chief Metaverse Officer. "I think it needs to find its footing for sure. Was there maybe a little bit more excitement than there ought to have been at the beginning? Maybe. But man, this is this a powerful thing. This is not going away."