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How Metaverse Will Transform The Events Industry

How metaverse will transform the event industry
The term “metaverse” has recently emerged as the preferred buzzword on the internet. Not just gamers or tech enthusiasts are talking about it; major tech companies, real estate magnates, the education sector, and well-known influencers have all been loudly indicating that each and every business and industry needs to prepare for it if they want to remain competitive in the future.
It’s very evident how the in-person events faced disruption during the pandemic. Saved by the virtual and hybrid formats, the events industry started to stand again. But what is the metaverse and how is it going to impact the event industry, this is where the curiosity lies. What opportunities and challenges will it bring to the table? Will it change the way how virtual events are experienced? Let us try to understand this.

What is Metaverse?

The metaverse has no set definition, which is important to keep in mind right away. In general, the goal of the metaverse is to give users a more immersive experience by giving them a way to reflect on their real-world surroundings in virtual spaces. The concept of self-invention or self-reinvention is one of the fascinating aspects of the metaverse. You are given the opportunity to embody your ideal self digitally in these settings. You can build an “avatar” of yourself and use it to perform actions that you might in real life, such as meeting friends, going to work, working out, etc. It’s all theoretically possible in the metaverse.
It is obvious that the metaverse will enable the technological fusion of real-world activities into the virtual world. This new universe may provide endless opportunities, changing our current understanding of how to construct, create, and arrange our lives.
For virtual and hybrid event platforms, engagement and community building continue to be crucial areas of focus and development. However, with the availability of the metaverse, there seem to be endless opportunities to mix technology and creativity for producing incredible online experiences.

Benefits to the Event Industry

A Boost To Engagement And Community Building

While the metaverse is still in its early phases of development, it is clear that Virtual Reality (VR), Augmented Reality (AR), and Mixed Reality will be the foundation technologies it will use (MR). As opposed to the experiences offered by hybrid and virtual events, this suggests that enhancing attendee engagement will be considerably easier within the metaverse events. Guests will be able to roam around, interact with other attendees, explore, and network since 3D avatars are essential for entering the metaverse events. Between real-life and virtual experiences, the metaverse will obfuscate the lines.

Do More With The Attendees Data

Monitoring attendees’ participation in physical events is cumbersome. While virtual events have provided improved insights on attendee engagement, the metaverse is likely to take this to the next level. The metaverse’s events will reveal important details about how participants interact, act, and investigate an event. Greater post-event interaction will be possible thanks to the data collected. On the other hand, the metaverse will enable businesses to expand their events on a worldwide basis. In contrast to physical events, the metaverse provides limitless opportunities for global attendee participation. Event planners have the freedom to invite as many people as they want, regardless of location or venue restrictions.

Seamless Interactions

As a significant part of the metaverse, 3D digital spaces, virtual and hybrid events utilizing the metaverse can provide events a distinctive presentation that would be unfeasible or unattainable through video streaming if done in the real world. In order to facilitate smooth interaction between guests, you may organize events with an unlimited number of rooms and meeting locations. Virtual events can provide participants with a 3D or holographic space to explore and engage in place of a series of online sessions. You can interact with a keynote speaker or a titan of the business who is on the other side of the world and ask them for guidance or just have a conversation.
It is obvious that the metaverse will foster an infinite range of innovation and change viewpoints on how events are planned. This new technology will undoubtedly generate new opportunities for community building and nurturing activities.
The event sector is a great place to observe the metaverse’s beneficial effects in action. A sudden move toward virtual experiences, environments, and assets was brought on by the epidemic. The virtual platforms gained traction as everything migrated online. Different immersive virtual platforms saw a surge in attendance for career fairs, family reunions, and cultural celebrations. The metaverse can improve attendees’ event-going experiences and encourage greater spontaneity. However, the potential goes far beyond merely simulating the experience of visiting an expo hall.
The metaverse is a step further in bridging the gaps created by the dwindling size of geographic boundaries. Unimaginable inventiveness will be possible in this metaverse period, and events will have new avenues to explore. It will undoubtedly be an excellent area to network for events. Events related to business, society, and entertainment will be made easier. It also depends on what people want, despite all the opportunities it provides to connect people on a deeper level.
Before the term “metaverse” became well-known, ibentos, a virtual and hybrid event platform, was already putting on immersive and captivating events for participants. Whether it be the 3D virtual platform or the other virtual environment elements, ibentos offers comprehensive solutions to engage with your consumers around the world, all within one clever and user-friendly online platform.
Want to execute an enriching virtual event for your audience, reach out to us now.