International trends for corporate metaverse events
The modern metaverse industry is developing at an incredible pace. According to Statista's latest report, the global revenue for metaverses will reach $490 billion by 2030. Some analysts even predict the market volume will reach $1.7 trillion within that period.
Different organizations are already actively implementing these virtual landscapes into their business models. Some are developing their own metaverse as a trading platform for e-commerce, while others are using it for gaming or education. At this point in time, the most popular format for a metaverse event are corporate gatherings.
What kind of corporate events are ideal for the metaverse?
The metaverse offers an adaptive space that allows organizers to host events for different audiences in specific formats. It immerses guests and allows them to interact with each other and digital objects in real time. In simpler terms, attendees become the hero of an online game where they can freely move, interact with other participants, create avatars (three-dimensional virtual figures that represent the user), and more. This creates a sense of unity and engagement.
Currently, there are a number of metaverse platforms that specialize in helping people organize corporate events. For example, Townhall Space powered by Party.Space offers a set of templates for virtual events in a 3D space with an audience of 10 to 1,000+ guests. Gather specializes in hosting events in 2D rooms and allows attendees to customize their own avatars. Access to platforms is also an important factor to consider when choosing a platform. Townhall Space works directly in a web browser, while other platforms like Spatial require VR glasses. It is important to understand what kind of metaverse experience you want to achieve and, based on your audience, how you plan to engage with them.
Townhall Space powered by Party.Space. Photo: Party.Space
As for specific examples of metaverse events, the most popular ones are:
- All-hands and Townhall meetings. Events for every team of a company where top management shares news and announcements with colleagues. Most modern organizations have employees on different continents. Interactive meetings in the metaverse help facilitate the rapport-building process and reinforce corporate culture.
- Presentations of new products. Demonstrating a company's product in the metaverse is a great way to impress international partners and guests, leading to positive business results.
- Educational initiatives. Host training sessions, workshops, or webinars to deliver an immersive experience to attendees, making the learning process more engaging and memorable.
- Team building activities. Set up your own metaverse and use it as a platform for building team communication and improving collaboration among team members.
- Conferences, B2B events. A conference in the metaverse is the most interactive online format for bringing people together. Speakers present their speeches on a virtual stage while guests can ask questions in the chat without interrupting the presentation. Some metaverse platforms have additional communication tools. For example, in Townhall Space, guests can interact with the speaker using emojigun. This makes it convenient for the speaker to communicate with the audience and control the overall atmosphere.
This list is certainly not exhaustive as the metaverse offers a range of locations and formats for a variety of different event types: from Dolce & Gabbana fashion shows as part of Metaverse Fashion Week to the TechGround conference by DXC Technology (Luxoft) at Party.Space.
Modern trends in corporate metaverse events
№1. Using the metaverse for educational and cultural events
The metaverse has become an essential component of online educational and cultural activities. The value of this virtual reality tool is recognized not only by HR professionals for corporate culture development but also by members of the business community.
According to a 2022 survey by Morning Consult, about 3 out of 5 technical workers find the metaverse convenient for learning and professional development. This indicates that the value proposition of the metaverse as an effective way to engage employees and customers is growing and will continue to grow in the coming years.
For example, Google held a team-building event in a Party.Space metaverse. The team meeting was in the form of a Halloween party, during which guests also participated in a virtual quiz. The quiz host was Kane Hodder, star of the movie "Friday the 13th."
Halloween space in the metaverse Party.Space. Photo: Party.Space
Novartis, an international pharmaceutical company, used virtual reality to teach their employees about the latest treatment methods for leukemia.
№2. Involvement of Artificial Intelligence
Over the past few years, artificial intelligence (AI) technology has accelerated its pace of advancement. Today, the entire world is captivated by ChatGPT – an AI-powered chatbot from OpenAI. Within two months of its launch, the active user audience of the chatbot exceeded 100 million, setting a historic record among internet applications worldwide.
AI technology has become more accessible and easier to integrate into virtual events. It transforms the way events are organized, operated and creates a unique experience for attendees. One of the main applications of AI during metaverse events is its ability to personalize content via Generative AI technology. With its help, organizers can analyze the behavior of visitors and adapt the virtual space in real time to their responses. This guarantees a higher level of audience immersion as the space is literally reacting to the behaviors of attendees.
The Party.Space team is also currently working on a new innovative product – a virtual meeting room with an integrated Generative AI function. Different types of conference room analogs are available on the market, but Party.Space is the first to combine a metaverse space with AI in this way. Users of our platform will be able to control the mood of a meeting and change the skybox using images created by AI.
AI implementation also means improving user interactions through the use of virtual assistants. These assistants are capable of managing the registration process, scheduling meetings, answering participant questions, providing real-time translations, and much more.
№3. Giving preference to personalized metaverse experiences
Metaverse platforms come in two varieties: closed and open. Closed platforms are typically owned by a single organization that controls them, and access is limited to a specific group of users. Open platforms, on the other hand, are available to anyone and are usually built with standards that enable free interactions with other platforms.
During the earliest stages of metaverse development, open platforms such as Decentraland and Sandbox were wildly popular. They became one of the first places where people experimented with the possibilities of virtual worlds. These platforms allowed visitors to create their own avatars, explore new places, and interact with other users. But today, due to the rapid development of the metaverse, there is a growing demand for a more controlled and personalized experience. People and companies are now seeking ways to use the metaverse to create unique experiences tailored to specific requests, which is impossible to achieve on open platforms.
Achieving the best outcome
The metaverse is the future of corporate events. To stand out in an oversaturated market and organize influential, interactive metaverse events, you can't let the latest metaverse trends pass you by. From creating AI-based content to personalizing the most minute experience, the possibilities for whatever will come next are endless. Those who adapt and implement innovations will come away with the best results.
