How the Metaverse will Change Events Industry
Published on December 15, 2022
The world of events and conferences is on the cusp of a major transformation with the emergence of the metaverse.
From virtual events to augmented reality experiences, this new technology promises to revolutionize how brands, businesses, and event planners interact with audiences.
In 2021, it was calculated that the global metaverse market size stood at $38.85 billion. Today, it is expected to rise to $678.8 billion by 2030.
In this blog post, we’ll explore how the metaverse is set to transform the events industry, from virtual conferences and tradeshows to brand launches and summits.
Meet me in the Metaverse!
You surely remember when Facebook announced its name change to “Meta” or that companies like Apple, Microsoft and Google are investing heavily in the Metaverse.
In 2021, Bill Gates made headlines by stating that most meetings would occur in the metaverse within two to three years.
What’s more, Gartner has recently predicted that 25% of people will spend at least an hour a day in the metaverse by that time.
Obviously, we’ve got a long way to go, so there’s still time for healthy scepticism.
But 3D, virtual reality and augmented reality technologies are advancing and are already playing a role in the future of event planning.
Upcoming metaverse events, summits and conferences in 2023
Below you can find an overview of upcoming metaverse events, conferences, and summits in 2023.
Even though the exact locations and dates are not available yet, it’s worth keeping track of them.
Date: August 2023
Location: Bushwick, Brooklyn, USA
Metaverse Summit Paris
Date: Summer 2023
Global Metaverse Conference
Date: not available yet
On|Metaverse Summit Italy
Location: Milan, Italy
Immerse Global Summit Europe
VRARA Healthcare Forum
Location: not available yet
What type of events are ideal for the metaverse?
The metaverse is quickly becoming a viable option for all types of events, not just virtual conferences.
In fact, the potential for the metaverse to revolutionize events and conferences across all industries is immense.
The metaverse makes sense for all types of events:
- Team-building activities
- Networking events
- User conferences
- Fashion shows
- Product launches
- Sales promotion
Whatever the event, Metaverse offers a wide array of possibilities that can significantly enhance any event’s success.
The Metaverse will change the way we interact with events
1. The metaverse can easily accommodate attendees from all around the world
The metaverse provides a space where multiple participants can interact in real-time.
This makes it an ideal choice for team-building activities and networking events, as it enables a more immersive and personal connection between attendees.
Plus, with the ability to host audio and video conversations, the metaverse allows for a larger capacity and longer run times, making it perfect for internal training or sales kickoffs.
2. It allows for unique event experiences and new opportunities for engagement
The metaverse also opens up exciting new possibilities for live concerts and fashion shows.
Performers can deliver virtual experiences with full production values – from green screens to special effects – while audiences can access quality audio-visuals, no matter where they are in the world.
This creates a more engaging experience for fans who can now attend virtual shows and interact with their favourite artists.
3. You aren’t limited by venue and vendor availability
In the Metaverse, there are no geographical restrictions or financial constraints when it comes to choosing vendors and venues.
Exhibitors can show off their products and services in a completely immersive environment, and attendees can explore different booths and visit exciting venues at any time.
Event planners can also customize the Metaverse environment to match the specific needs of their event.
From interactive activities to custom visuals, the Metaverse allows for limitless possibilities when it comes to creating unique experiences.
As you can see, there is no limit to what you can do with the Metaverse. It’s only limited by the limit of one’s imagination.
And by investing in this technology, soon event organizers will easily and effectively create unique, immersive experiences that will capture the imagination of attendees.
About the Author
Mohammad J Sear is focused on bringing purpose to digital in government.
He has obtained his leadership training from the Harvard Kennedy School of Government, USA and holds an MBA from the University of Leicester, UK.
After a successful 12+ years career in the UK government during the premiership of three Prime Ministers Margaret Thatcher, John Major and Tony Blair, Mohammad moved to the private sector and has now for 20+ years been advising government organizations in the UK, Middle East, Australasia and South Asia on strategic challenges and digital transformation.
He is currently working for Ernst & Young (EY) and leading the Digital Government practice efforts across the Middle East and North Africa (MENA), and is also a Digital Government and Innovation lecturer at the Paris School of International Affairs, Sciences Po, France.
As a thought-leader some of the articles he has authored include: “Digital is great but exclusion isn’t – make data work for driving better digital inclusion” published in Harvard Business Review, “Holistic Digital Government” published in the MIT Technology Review, “Want To Make Citizens Happy – Put Experience First” published in Forbes Middle East.
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