metaverse 10times

The Metaverse: What Does It Mean for the Events Industry?

The core purpose of most events is to connect people with a shared and valuable experience. Technology provides new opportunities for creating, shaping, and facilitating these shared experiences. 

Technology has been a part of events since the beginning. In addition to microphones and video broadcasts, the internet made events more accessible and allowed new levels of communication and interaction.

The “metaverse” is the next technological advancement making waves in the events world.

What is the metaverse?

It refers to digital environments where several people can see and interact with each other, using avatars that can be customized. The Metaverse is gaining traction as a venue for conducting events. Brands across a broad range of industries are exploring the possibilities of AR, VR, and AI. 

While the idea and various implementations of the metaverse have been around for decades, Facebook’s rebranding as “Meta” has propelled the topic to the forefront of technological discourse. Several tech giants and gaming giants, such as Microsoft, Epic Games, and Roblox are also developing virtual worlds.

Zuckerberg describes the metaverse as “the beginning of the next chapter of the internet.” He envisions a world in which you plug into a virtual world to see, do, and experience anything you want, as well as a world in which you don a VR headset while at work, shopping, and (presumably) waiting in line at the post office.

How Does the Metaverse Work?

The Metaverse combines two concepts that have been around for several years – virtual reality and digital second life. It is a hypothetical iteration of the Internet, which means it is an online three-dimensional, virtual space that connects users across the world. 

The Metaverse is facilitated by Virtual Reality, Augmented Reality and Mixed Reality technologies. Its core idea is to create a better sense of virtual presence through the technologies of VR and AR. These technologies immerse the user, stimulating what is known as presence, which is created by generating the physical sensation of actually being there.

Immersive experiences in the Metaverse are possible through the presence of technologies like:

  • Virtual Reality (VR)

Virtual reality submerges the user within a digital replica of the physical world and allows them to relate to it. A digital world contains artificial information that mimics the content of a physical one.

360-degree photography and videography allow users to experience virtual reality environments from their specific vantage point. 

  • Augmented Reality (AR)

It combines digital elements with real-world elements. Smartphone displays or headsets are used to enhance virtual elements in the real world. Therefore, users can take advantage of some digital features while experiencing the physical world.

  • Mixed Reality (MR)

This virtual and augmented reality experience combines the best of both worlds to provide an impressively immersive experience. It combines virtual images with holographic images, and the user wears custom-designed glasses to view it.

Virtual headsets block out the user’s peripheral vision so that they can focus on the digital revelations before them. As well as reducing physical sound, the virtual reality headset allows users to focus on the sounds of the virtual world.

With certain VR accessories, the sense of touch is also enhanced. Users can receive haptic feedback, so they can feel vibrations when something happens in the digital world.

  • Metaverse Avatar

Virtual avatars are digital representations of us, and since they can’t thrive physically like our bodies, the best thing to do is to allow them to live and grow in their digital realm.

Although avatars can take different shapes in this space since they are endowed with humanoid attributes such as lower and upper torsos, movable limbs, and a face for non-verbal cues. In the Metaverse, you can only move around by having an avatar.

Avatars serve as a way into the Metaverse and can be created through either ready-made or a basic process. To fully connect to the virtual space, you need a tool like VR goggles and other receptive tools, which make you feel the body sensations needed for communication.

Although the metaverse doesn’t exist yet, video games provide a close experience to it. World of Warcraft and Fortnite are two examples of virtual worlds where users can purchase and sell items. With an Oculus headset, you can explore virtual spaces on your own. While these are closer to the metaverse, however, it does not cover all aspects of the metaverse as described by tech giants and companies.

Tech giants like Microsoft and Meta have been at the forefront of developing technologies related to the metaverse, other companies are also playing and are catching up rapidly. A number of startups, including Nvidia, Roblox, Unity, and many others, are building the infrastructure for better virtual worlds that resemble the real world.

What does the metaverse mean for events?

Metaverse is a digital event space that allows attendees to enter as their own avatar and be free to move around, interact with other attendees, and ultimately curate their own unique event experience. In contrast to today’s virtual events, where every participant sees the same video feed, this technology would allow everyone to see their own video feed.

One of the main reasons for the widespread adoption of this type of event experience is that modern audiences are already familiar and comfortable with digital ecosystems. Events will be transformed in two primary ways: offering attendees a more immersive experience and making them a part of the event.

Let’s examine these points in a bit more detail.

  • Enhancing Event Experiences

Event experience quality and immersion are two of the ways metaverse is improving the event industry. In a metaverse event, attendees have access to a fully immersive event experience that allows them to engage in features and activities at their leisure. 

Large events with multiple speakers or attractions that are available simultaneously, such as trade shows or conferences, may benefit from this model. Visitors can virtually stroll around at their own pace, concentrating on elements that interest them.

The event attendees can also see more of the speaker than just their face, which is typical of virtual events and meetings conducted over Zoom. These and other features are expected to be available at events in the metaverse, enabling new levels of “in-person” engagement.

Accessibility is one of the key benefits of virtual events for event planners. Since these events have no geographical limitations, attendees can connect simultaneously from around the world.

In addition, metaverse technology will have an impact on hybrid events, which combine in-person and online access. A metaverse presentation can be combined with a 2D or physical event to add a whole new dimension.

  • 3D Audiences

In addition to transforming the event industry, the metaverse also affects the attendees themselves. The metaverse provides speaker and performer access to audiences. In addition to benefiting speakers and event planners, this also benefits attendees.

Typically, speakers at today’s virtual events only see a list of attendees’ names or a mosaic of video feeds. Speakers can, however, experience speaking to a real crowd with an event in the metaverse, rather than the column of faces common to most conferencing software.

Individuals in the audience also provide a sense of community and encourage active participation, which is often lacking in virtual events. Virtual events often feature elements designed to encourage networking and communication among participants, such as breakout rooms and networking sessions.

Virtually walking around a 3D breakout room and chatting with others boosts engagement and engagement rates. Collectively, this results in a better event experience for everyone involved.

Types Of Metaverse Events

Metaverse gatherings leverage the power of virtual reality to create interactive, social, and inclusive events that are highly attractive to sponsors, attendees, and ROI. 

  • Metaverse Concerts/Entertainment Events 

A concert is an immersive experience. Using the Metaverse, participants will be able to create their own avatars and become part of the event in a real way. They can also interact with each other in a live concert setting. They can dance, laugh, and sing along with each other.

In addition, AI chatbots can serve as guides or assistants to guide, greet or interact with attendees, alongside fun and engaging 3D objects that enhance the feeling of shared experiences. It is also important that the attendees have the freedom to move around, so they can build relationships.

Whether it’s musicals, stand-up comedy, open mics, or workshops, the Metaverse is well-suited to enhance ticket sales and attendees’ experiences.

Marshmello’s Fortnite concert was virtually attended by 10 million people, making it the biggest event ever in the game.

  • Metaverse Gaming Events 

In spite of the fact that video games have been captivating audiences for decades, significant progress has been made in preparing for the Metaverse. Since the Metaverse is a lifelike world, audiences can create virtual avatars and curate their setup, allowing for a presence similar to that of reality but with greater flexibility.

Imagine being able to join a game and interact with players on an equal basis, instead of watching someone else play. On the organizer’s side, metaverse gaming events are a gold mine of opportunities. Organizers can boost audience engagement by displaying all gaming drama on the social wall or utilize the gamers’ enthusiasm by adding a countdown, clock, and leader scorecards.

Roblox, the platform for Lego-like user-generated games, reported the virtual currency of Roblox was worth $652 million in the first quarter of this year.

  • Metaverse Trade Shows 

Trade shows merged with a metaverse are a great way to connect buyers and exhibitors. By reaching out to audiences on any device, you can attract their attention, generate leads, and generate sales.

Whatever the trade show, whether it’s food, car, property, technology or anything else; the organizers can make it happen: 

  • Design stunning 3D designs
  • Create customized and brand-specific booths
  • Boost networking with live chat tools
  • Drive conversions by integrating an online store
  • Add gamification to keep the attendees hooked 
  • Live-stream the event in 3D

Conducting a trade show in the Metaverse is most enjoyable when there is co-presence. A virtual avatar is created and attendees can network with each other. Researchers suggest this creates a sense of inclusion and a sense of co-presence for users.

  • Metaverse Graduation Ceremonies 

Organizers can host unforgettable metaverse virtual graduation ceremonies for constituents to interact, network, and celebrate together without getting tired. Through platforms, users can communicate 1:1 via video conferencing, chat, and video calls, creating an immersive experience for students, teachers, and parents attending the graduation ceremony.

Furthermore, Metaverse’s social environment can facilitate “watercooler moments” in which attendees can exchange information as they would in real life. In this way, everyone will get to enjoy their special day and creates a celebratory atmosphere.

A social wall can enhance the ‘moment in a lifetime for the students as you can capture all the content created by your constituents and embed it later on your website.

  • Metaverse Award Functions

It is undeniably one of the best uses of the Metaverse to organize awards functions. Its scalability is its most appealing feature. There is no need to book large spaces to accommodate large guest lists. The 3D model needs to be glitzy and glamorous.

Avatars can be created by attendees, chat with others, take pictures with photo booths, and move freely to build connections. By enabling live Q&A sessions and chat sessions, platform integrations, and polls, organizers can maximize attendance and engagement.

  • Metaverse Job Fairs 

Metaverse job fairs are a great way to find and recruit candidates for your job openings. 

The employer can access a larger candidate pool, screen the best ones, and engage them.

The interactive capabilities of a 3D environment can also be used by companies to provide training. Set up a customizable exhibit booth where job boards with current openings are shared, business profiles and videos are uploaded, and private interactions and fun elements can be included.

  • Metaverse Product Launch 

There is real anticipation surrounding the product launch. With innovation and creativity, the sky’s the limit for brands in the Metaverse. 

Businesses can display live or pre-recorded demos of their products, upload walkthroughs, tutorials, and testimonials, and allow attendees to order directly from the website.

The gaming platform Roblox sold a virtual-only Gucci bag for $4,100, which is more than the bag’s real-world value.

Upcoming Metaverse Events in 2022

Tech companies will be able to capitalize on next-level internet opportunities by learning more about the metaverse. Events offer a great opportunity to network and learn about this technology. You can check the latest metaverse events on 10times to learn more about this immersive technology and how to utilize it.

Key Takeaways

Events are all about connecting people and fostering communities. It doesn’t matter if it’s an industry event meant to connect people in the same field or if it attracts fans of a band or performer – events can bring people together and build strong communities.

Through the Metaverse, brands can conduct events and enhance their engagement in the 3D world. Metaverse has the potential to transform the event industry and provide new ways to connect communities in a new digital era.

Check out the upcoming Metaverse events on 10times.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.