Events in Metaverses: Cases, Formats, Ideas
In recent years, neural networks have pushed VR and metaverses into the background. While the whole world is rushing to test ChatGPT and Midjourney, a vast audience of ordinary users, celebrities, and brands have begun to build their own worlds in metaverses and explore their potential. In the West, metaverse events are attracting tens of thousands of people, top celebrities and iconic brands, generating good revenue, boosting engagement and providing long-lasting PR effects. How it all works, who has already made a mark in this field, whether investment in metaverse events is justified and what the future holds for this industry is the subject of our new article.
Content
1. How Metaverses Work and Their Purpose
2. Popular Metaverses
— The Sandbox
— Decentraland
— Roblox
— Somnium Space
3. The Need for Digital Avatars
4. Metaverse Event Cases
— David Guetta DJ Party
— Nikeland
— Metaverse Fashion Week
— Hyundai Mobility Adventure
— Marketing MetaConf 2022
5. Prospects of Metaverses for the Event Industry
How Metaverses Work and Their Purpose
A metaverse is a symbiosis of physical reality, AR, and VR in a unified online space. This digital world has its own laws and rules: it is infinite, can accommodate any number of participants, has a blockchain-based economy, allows the use of objects from the physical world (translation of real objects into NFTs in the metaverse through 3D scanning and modelling). Currently, this technology is only available on the Meta Hero platform) and digital assets from games, social networks, and other platforms.
Metaverses offer the highest level of immersion and sensory experience, where you can see, hear and interact with space and people much like in the real world. You can communicate, work, learn, play, create, buy and sell digital goods and artwork.
For example:
- Players complete quests in full immersion VR headsets and interact with other players. In the sandbox game The Sandbox, they can create digital items and monetise them using NFT tokens;
Source: dappradar.com
- Artists are holding concerts in metaverses. Rapper Travis Scott organised an immersive show in the game Fortnite, which attracted around 12 million viewers and generated $20 million in revenue;
Source: mirrorworld.media
- The Decentraland metaverse platform allows people to buy virtual land and real estate for future investment;
Source: metamandrill.com
- Brands are actively using the online gaming platform Roblox to create their own virtual worlds. Exhibitions, festivals, conferences, product launches with the option to sell as well as team building activities and games are held there;
Source: techradar.com
- Many start-ups, such as StoryFile, offer the service of digital immortality. This technology creates a virtual clone of a person in the form of a hologram with their appearance, behaviour and character, and then allows loved ones to communicate with the person even after their death.
Popular metaverses for hosting events
There are a number of platforms for creating metaverses. Here are just a few that have gained popularity among ordinary users and brands.
The Sandbox
A metaverse for gaming, creativity and monetising user-generated content. It is similar to the famous game Minecraft. Any user can build their own world with quests, storylines and their own rules, and interact with other participants.
Source: fortune.com
There are three types of digital assets in the Sandbox. SAND is the primary in-game currency used for transactions between participants. ASSETS are user-created NFT objects. LAND is virtual land that can be bought, sold, rented and developed. Many brands buy land there and open virtual representations.
Decentraland
A virtual world where users can buy, sell and develop land with their own objects, items and rules. This is facilitated by the internal cryptocurrency MANA. Decentraland often hosts virtual concerts, conferences, NFT exhibitions and other events.
Source: decentraland.org
Roblox
A multiplayer gaming platform that allows users to create and play games and host events. Participants can interact with each other, develop their own locations, monetise items and upgrade their avatars using the in-game currency Robux.
Source: nintendolife.com
Somnium Space
A social VR platform where you can buy virtual land using the CUBE token, build various objects and themed zones, communicate and organise events. Worlds created in Somnium Space look very realistic and using a VR headset provides maximum immersion.
Source: store.steampowered.com
The Need for Digital Avatar
An avatar is your digital 2D or 3D persona in the metaverse. Using an online builder, you can create your look, add information about yourself, and participate in online events or activities in different metaverses and games alongside other avatars.
More and more brands, celebrities and influencers want to create their own unique, high-quality VR avatars from scratch. With these avatars, they plan to organise PR events, concerts, photo shoots, digital fashion shows, VR store openings and other activities. People with experience of working with game engines such as Unity and Unreal Engine can earn money from this. A specialist in the creation of digital avatars in the metaverse is already a real and sought-after profession.
Metaverse Event Cases
Here are some metaverse cases from leading global brands that have wowed the event industry:
David Guetta DJ Party
In February 2022, the famous French DJ organised an epic VR concert in a neon metaverse with numerous special effects. 18,000 viewers not only watched the event, but also participated in DJ and dance battles.
Source: gamerjournalist.com
Nikeland
Nike has created a replica of its headquarters and virtual stadiums in Roblox, where users can participate in sports activities and dress their avatars in branded clothing and footwear. The company plans to use Nikeland to test new products and host international sports competitions.
Source: xrtoday.com
Metaverse Fashion Week
The first ever Digital Fashion Week took place in the metaverse of Decentraland in 2022. Over four days, fashion giants such as D&G, Hugo Boss, Gucci, Balenciaga, Burberry and Ralph Lauren, as well as digital fashion houses The Fabricant and FEWOCiOUS, hosted runway shows. Guests were able to attend shows and other events for free, purchase digital items they liked, and even order real-world clothing tailored to their preferences.
Source: theblock.co
Hyundai Mobility Adventure
The car brand created an entire virtual city with themed areas where visitors could explore future mobility solutions, take test drives, learn about innovative technologies and take part in competitions.
Source: autocar.com.ph
Marketing MetaConf 2022
Last year AltSpaceVR hosted the first conference in Russia in the metaverse for marketers and digital specialists. Discussions focused on future technology and IT trends, new approaches to customer relations and promising marketing tools for brands and creators in the metaverse. The event was streamed on YouTube.
Prospects of metaverses for the events industry
With each passing year, more platforms, formats and ideas for holding events in the metaverse emerge. As more brands experiment with the metaverse, more insights, expertise and data will be available for marketers, metaverse developers and VR device creators to analyse and develop.
At Galactic Group we believe that entering the metaverse is an excellent opportunity for business growth, brand recognition and the development of a new type of corporate culture. The future of events lies in the harmonious combination of real and virtual experiences, and this global transformation is only going to gain momentum
