Metaverse and the Events Industry

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If you’re like us and love learning about new innovations and trends, then we’re sure you’ve heard of the ‘metaverse.’ This new (reimagined), high-tech and unique virtual world is going to take the events industry – along with many others – by storm.   

We’ve done a lot of research on this concept, so let’s break it down. The metaverse is a space where people can participate in a shared virtual universe. Think back to “Second Life,” arguably the original platform that allowed people to create an avatar and have a second life in an online, virtual world.  

The metaverse allows us to engage with communities of people and experiences of all types (work, play, etc.) online. If the pandemic taught us anything, it’s that humans crave connection and shared experiences, especially when those experiences cannot be achieved in real (physical) life. The metaverse is going to take the concept of virtual events to new heights by incorporating virtual reality (VR), augmented reality (AR), three-dimensional (3D) holographic avatars, video content, and other forms of media to create engaging and dynamic experiences for event stakeholders.  

The metaverse is not a trend or a fad, it’s here to stay and will continue to evolve beyond our wildest imaginations. As technology advances and humans continue to seek opportunities for meaningful engagements in digital realms, the metaverse will become more mainstream. The interest and investment is astounding, with billions of dollars being invested into its various layers. There are endless players (such as Google, Microsoft, Apple, Amazon, and many more) worldwide involved in bringing to life the metaverse of the future. As each of these layers evolve, the metaverse will expand to provide quality, unique, and powerful immersive experiences in alternative digital worlds.   

At Redstone, we’re tech-savvy and digitally obsessed. Recently, we had the opportunity to work with a metaverse platform designed to make events more immersive. ‘Moot Up’ allowed for seamless integration into the main event platform and created a fun and interactive networking and auditorium set up.  Attendees had the unique opportunity to create a virtual avatar, sit by a fireplace for a 1:1 chat, join networking tables, and even show off some dance moves. All from behind their computer screens and without a high-tech VR headset. It was a creative and cost-effective approach to introducing the metaverse to the virtual and hybrid event space. 

We believe in the power of connection, how the events we produce achieve a common goal of bringing communities together, even virtually. With the metaverse, the power of connections has now been amplified. It offers opportunities to expand our reach and audiences, reduce our carbon footprint, provide unique activations for brands and attendees, create memorable experiences, and so much more.  With all of this being said, and we’re certainly excited about these new possibilities, it’s important that every event planning decision be made with intention and with the end goal(s) in mind. The metaverse might not make sense for your organization’s event strategy, and that’s okay. It shouldn’t be adopted just because.   

Despite the number of hours invested in exploring the metaverse, we’ve only just grazed the surface with what it is and everything it can do for the industry and beyond. We’re excited to experiment in the metaverse and help our clients do the same.   

Interested in the metaverse? Evaluating the benefits and if it’s right for your event strategy? Book a meeting today to talk all things metaverse and events. Let’s navigate the events world, together.  

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