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Should you host your next event in the Metaverse? From musical concerts to world-class conferences, virtual spaces are winning the race with unlimited seating capacity, zero usage of physical infrastructure, and global accessibility. In fact, the year 2023 kick-started with a viral New Year event in the One Times Square metaverse. When all the signals suggest that the Metaverse is becoming a major force, it is about time that event industries channel their brands to benefit the most from this new venture.
Metaverse events are virtual events that are hosted in a dynamic and interactive metaverse digital environment. What sets regular online conferences from events on the metaverse is virtual reality (VR) or augmented reality (AR). These events can range in size and scope from small, intimate gatherings to large-scale conferences and festivals.
One of the main benefits of hosting events in the metaverse is the ability to reach a global audience, as attendees can participate in virtual events from anywhere in the world. Virtual events can also offer a level of interactivity and immersion that is impossible in the physical world, allowing attendees to explore virtual environments, interact with other attendees and presenters, and participate in activities and games. If you are reading this article, then you probably know what a metaverse is. Regardless, here is a brief narrative on the metaverse
Since Facebook rebranding as “Meta,” the term “metaverse” has been gaining popularity, even if it’s not associated with Facebook. To speak collectively, the metaverse is a virtual space shared in real time with all the users. The convergence of virtual reality and augmented reality with dynamic artificial intelligence enhance the virtual spaces in the metaverse. If you ask science fiction enthusiasts, they would explain metaverse through the plots of the 1992 novel “Snow Crash,” by Neal Stephenson. Through this novel, the term metaverse is said to be introduced for the first time. Today, we see prolific use of metaverse for video games, social media metaverse, and various events.
Several notable metaverse entertainment events have brought the concept to the front row in recent years. Some of the popular events are listed below.
Marshmello, the masked DJ, was one of the first musicians to perform in the Metaverse, specifically in Fortnite’s virtual world, in February 2019. This concert marked the beginning of the intersection between the music industry and the Metaverse. While the concert may seem primitive compared to more recent events, it was groundbreaking in introducing the music industry to virtual events and showcasing the potential of the Web3 space.
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Daler Mehndi, a popular Indian pop star, made history as the first Indian artist to perform in the Metaverse. His groundbreaking concert in January 2022, held as part of unveiling the first India-based Metaverse, attracted over 20 million attendees. This impressive turnout rivaled other well-known artists who have performed in the virtual world. Notably, Mehndi’s concert was a one-time event, whereas other artists, such as Travis Scott and Ariana Grande, were re-streamed multiple times. By bringing the Metaverse to India, Mehndi demonstrated its global capabilities and ability to connect with and impact a wide audience of fans and artists.
Post Malone has had two performances in the Metaverse, similar to David Guetta. In February 2021, he collaborated with Pokemon for a virtual performance celebrating their 25th anniversary. More recently, Malone hosted a “block party” in Meta’s Horizon World, featuring special guests such as Roddy Ricch, the Kid LAROI, and Fleet Foxes. The set included songs from his album Twelve Carat Toothache that lasted 40 minutes.
The Metaverse Fashion Summit was held in several locations worldwide, including Tokyo, Delhi, Dubai, Paris, London, and New York. It was also accessible through various metaverse platforms developed by Next. The summit featured 40 expert talks, 3 round table discussions, and various creative events and presentations on digital fashion.
A Demo Day was also held, providing startups, projects, and entrepreneurs the opportunity to network with investors.
The event’s goal was to bring together leaders in the industry to discuss and establish future policies and standards for metaverse fashion, with topics such as the integration of physical and digital elements, luxury brands, and the inclusion of women in the industry covered. The participants included founders of metaverse platforms and creative directors of digital fashion brands.
Facebook’s parent company, Meta, hosted a day-long Meta Connect conference in an online world. The conference featured talks from Mark Zuckerberg and the CTO of Reality Labs by Meta, among others. It was streamed like a regular online meeting but could also be attended in Horizon World, Meta’s free virtual reality platform designed to expand its social media offerings. Those who owned a Quest-2 virtual reality headset could access the conference in Horizon World.
Many companies and organizations are working on the development of virtual worlds and virtual reality platforms. These include video game companies, tech startups, and even large corporations. Some examples include
Second Life – a virtual world developed by Linden Lab that allows users to create and customize their avatars, interact with other users, and explore a variety of virtual environments.
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VR Chat – a social VR platform that allows users to create and customize their avatars, communicate with other users and participate in various activities in virtual worlds.
Rec Room – is a social VR platform that allows users to create and customize their avatars, communicate with other users, and participate in various activities, including games and virtual reality experiences.
The Metaverse Roadmap – an organization that is working on the development of a decentralized metaverse that is powered by blockchain technology.
High Fidelity – a company working on developing a metaverse platform that allows users to create and customize their avatars, interact with other users, and explore a variety of virtual environments.
Facebook Horizon – a social VR platform developed by Facebook that allows users to create and customize their avatars, communicate with other users, and participate in various activities in virtual worlds.
These are just a few examples of the many companies and organizations working on developing metaverses. The list will likely continue to grow as technology advances, and more people become interested in virtual reality and other forms of immersive digital media.
However, the level of metaverse development thus far cannot be gauged accurately. It is still a complex and multifaceted concept in the early stages of development. The metaverse will likely continue to evolve and grow as technology advances, and more people become interested in virtual reality and other forms of immersive digital media.
When planning a metaverse event, it is essential to understand its purpose and the value it will offer attendees. Two important options to consider in the planning phase include:
Creating a successful metaverse requires complex structures that support interoperability, persistence, and security. For the metaverse to function smoothly and seamlessly, it must be able to interact with the real world in real-time. The metaverse must also have a robust economic base that allows for secure transactions. But perhaps most importantly, the metaverse must be filled with engaging and meaningful content and experiences that truly immerse users in the virtual world. To know more about building a metaverse from scratch, check out our blog on How to build a metaverse virtual world?
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Here are a few suggestions of metaverse platforms for your event
AltspaceVR: A social VR platform that offers a variety of virtual environments and activities, as well as tools for hosting events and meetings.
Minecraft: A popular sandbox game that can create and host virtual events and experiences.
Adobe Aero: A VR and AR authoring tool allows users to create immersive experiences for events and other purposes.
After you have your platform right, you can consider adding some of these features.
3. NFT tickets: Using NFTs (non-fungible tokens) to tokenize event tickets can be an effective way to facilitate organized entry and prevent fraud in your metaverse event.
4. Avatars: The audience will attend the event as their avatars. Come up with ideas to personalize the styles of avatars to match the theme of your event.
5. Marketplaces: Metaverse events can be a great venue for the exhibition of virtual marketplaces. These stores can sell NFTs, virtual goods, merchandise, and more.
The methods to conduct metaverse events highly depends on the event type, the audience, and other specific factors. Nevertheless, here is a general guide you can use for any idea.
Define the goal and purpose of the event: Before launching an event, it’s important to clearly understand what you want to achieve. Are you looking to promote a new product or service, build brand awareness, or simply bring people together for a fun experience?
Identify the target audience: Knowing who you want to reach with your event is crucial for developing an effective marketing strategy and creating content that will resonate with your audience.
Choose the right platform: There are several different platforms available for hosting metaverse events, including virtual reality (VR) platforms like Oculus Quest and PlayStation VR, blockchain-based virtual worlds like Decentraland and Somnium Space, and social virtual reality apps like VRChat. You should choose a platform that aligns with the goals of your event and is accessible to your target audience.
Create engaging content: Whether you’re hosting a virtual concert, a game tournament, or a product launch, the content of your event is crucial to its success. Plan the event schedule, what will happen, and how you will engage the audience.
Promote the event: Once your event is planned and ready to go, it’s important to let people know about it. Social media, email, and other marketing channels build buzz and drive attendance.
Host and manage the event: Hosting a successful metaverse event requires a lot of planning, coordination, and communication. Make sure to have a team to manage the event, troubleshoot technical issues, and keep things running smoothly.
Evaluate and improve: After the event, take the time to evaluate the event’s success and gather feedback from attendees. Use this information to improve future events and make them more engaging and successful.
As technology advances, the potential of metaverse development is becoming more feasible. The proliferation of virtual reality, augmented reality, and other digital media brings us closer to a world where virtual and physical lines are blurred. According to a prediction by McKinsey and Company, a management consultancy, the metaverse economy could potentially have an impact of up to $5 trillion by 2030, equivalent to the size of Japan’s economy as it stands today. People’s interest in convenient and accessible technology can motivate the growth of metaverse events. While it is difficult to predict the exact future of metaverse events, it is clear that the potential for growth and innovation in this field is vast. It will be exciting to see how it evolves and impacts how we interact and engage with each other in the digital world.
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