Events in the Metaverse!

Introduction

Event planners are aware that advancements in technology may result in significant changes to event planning, and this is never more true than right now. The online shift brought by COVID-19 appears to be set to stay, and the rise in metaverse events is a key component of this change.

A metaverse event is a gathering that takes place virtually rather than physically. In other words, you watch the event online from a device in your house rather than traveling to a music hall, stadium, or auditorium. 

Any event has the potential to be effectively held in a virtual environment. There are many options, including sports events, university lectures, concerts, conferences, and gaming contests. :dizzy:

What do the numbers say?

Event organizers are already aware of the advantages of organizing events in the virtual world, even if the idea of the Metaverse still is developing and a lot of its potential has not yet been fully explored. As a result, lately, there has been an increase in events in the Metaverse, and yet this expansion is anticipated to last for a long time. 😉

In order to put the frequency of metaverse events into perspective, have a look at these figures from a December 2021 survey:

• 40% of people are eager to interact with others there.
• In the United States, 74% of respondents stated they would enter or were thinking about entering the Metaverse.
• 38% believe it would increase cooperation among people.
• 41% of participants said they wished to encounter things that aren’t achievable in the actual world.
  

According to these numbers, the public is ready for these experiences that effectively combine all of these passions into a single virtual journey, therefore, it shouldn’t be surprising that there will be an increase in the occurrences of metaverse events in 2022. :chart_with_upwards_trend:

Metaverse events types

Gaming Events :video_game:

Despite the fact that audiences have been entertained by video games for many years, tremendous progress has been achieved in gearing up for the Metaverse. Audiences may design their own avatars and settings in the Metaverse, which is a lifelike environment, giving them a presence that is akin to their real-world presence but more flexible.

Imagine how cool it would be to enter a game and communicate with other players on an equal basis, as opposed to just streaming games or watching someone else play. On the organizer’s side, metaverse gaming events open up amazing financial prospects. For example, players on the platform Roblox spent $652 million on the game’s virtual money.

Music events

An important element in the Metaverse is music events. The event that has been the most successful thus far was a rock concert put on by Epic Games. Millions of fans saw Travis Scott perform in the video game Fortnite on this occasion.

The Universal Music Group and Warner Music are likewise embracing this idea. Universal has already published official metaverse avatars for some of its most well-known musicians, while Warner Music is preparing a concert hall and hybrid musical theme park where they will stage musical events. :musical_score:

According to studies, it might be wise to produce musical acts in the Metaverse:

• Live music performances in the Metaverse are thought to be interesting by 45% of the populace.
• 61% of millennials say they’d go to a concert in the Metaverse.
• 56% of Gen Zers are interested in going to an online music concert.

In addition to the performance’s obvious attraction, NFTs have a lot of possibilities for metaverse music events. For instance, tickets purchased with NFTs have significantly more reliable verification, thus preventing fraud and ticket scammers. Promoters can employ NFTs to provide access to their clients to premium experiences like socializing with performers.

Job Fairs

The best approach to identifying and hiring qualified people for your available positions is to hold job fairs inside the Metaverse.

Employers may choose from a broader pool of candidates, interview the best ones, and interact with them. Companies may offer training as well by making use of the interactive capabilities that a virtual 3D environment enables. :raised_hands:

Construct a flexible show booth where you may share job listings with open positions, submit company descriptions and videos, engage in private communication, and add entertaining components and/or interactive 3D items.

Using an avatar to represent employees on a scoreboard escalated helpful actions and boosted motivation among employees, according to a study from 2020.

Benefits of holding events in the Metaverse

Physical spaces are less flexible than virtual spaces.

There are several ways in which the metaverse space shows its flexibility. First, virtual venues make it feasible for audiences from all over the world to participate without worrying about trip costs, considerable planning, or potential disruptions from weather and traffic.

The chance for those whose family responsibilities, such as taking care of a kid or parent, could have prohibited them from going to an event in a real location is also significantly increased. They don’t have to leave their houses, so they may participate completely like everyone else without feeling guilty or worried about how their family members are being cared for. 

Third, those who have severe hearing loss or are deaf may occasionally find it difficult to participate in conventional events. These visitors may now freely interact with anyone in the space by using sign language or closed captioning. Similar to how folks with limited physical mobility may effortlessly move about the virtual area as they like. :raised_hands:

In a metaverse event, linguistic barriers do not exist. You can communicate with anyone from any nation on the globe using real-time translation, irrespective of whether you speak the same language.

More Profitable and Efficient Than Actual Events

Metaverse events have the potential for higher attendance as well as higher financial returns. While real-life gatherings need considerable time and financial input in order to reserve the venue, seats, decor, and food, the Metaverse doesn’t entail any of these things.

Additionally, there are countless opportunities to make money in the Metaverse. For instance, you may use Non-Fungible Tokens, also known as NFTs, to sell VIP access to events, chances for one-on-one meetings with keynote speakers, or products. :sunglasses:

Like in contemporary video games, you may also provide users the choice to improve their avatars as well as their capacity for environmental interaction.

Unlimited attendance and interactions with remote attendees

There are no attendance restrictions at events hosted in the Metaverse, which is one of the biggest contrasts between them and those held in real life.

In contrast to a physical location, where the number of rooms available limits attendance, a metaverse setting may be enlarged to accommodate additional participants. As a result, rather than dozens or hundreds of attendees, you may have thousands. :smirk:

Metaverse live events also have the opportunity for engagement. Participants may design their own completely customized avatars, roam across different rooms, and interact with other attendees from around the world.

Conclusion

If we put it all together, we can conclude that the Metaverse indeed gives us many opportunities when it comes to hosting events. These events are a great way for businesses that are trying to reach an audience that’s spending time there. So, regardless of which type of event you are trying to host or participate in, one thing is for sure: the Metaverse will change the way how we interact with each other! :muscle: