Are Events in the Metaverse the Gamechanger?

The hype surrounding the Metaverse cannot be overlooked. Big tech is expanding into the metaverse, committing millions of dollars worth of investment to be a part of what is geared up to be a trillion dollar industry. Yet, while much attention has been placed on the metaverse within a B2C setting, it’s true that disruptive potential also lies in its application within enterprise. This is now being referred to as the “Metaverse for Business”. 

The Metaverse for Business

The Metaverse for Business concept is simple: it refers to the creation and use of shared, 3D virtual spaces that businesses can use to engage with their associates. There are no limits to the levels of engagement. Metaverse ecosystems can be created internally for brainstorming sessions or weekly meetings, through to external events, client engagement, and even training and recruitment. This is why the Metaverse for Business is so exciting.

However, online events have been around for years.. More recently, we have seen more organizations rely on virtual events to expand their audience reach and encourage active participation.  The reality is that most of these events were 2D in nature - they repurposed existing video conference call and chat technology rather than offering new formats. The Metaverse for Business changes all of this by offering truly immersive virtual events. Attendees can explore a virtual, online event with their customizable avatars, and treat the experience as if they were physically there. This way of working is following a trajectory that will see mass adoption in the coming years. 

Interview with Danny Stefanic

Danny is a person with a brilliant combination of characteristics when it comes to business: focus, vision, brilliance, patience, modesty and cunning. As the CEO of MootUp, he has taken the future of the event industry to another universe.

Let’s talk about: “The Metaverse”

Danny Stefanic CEO at MootUp

Why is 2022 such an important year for the metaverse?  

The metaverse is by no means a new concept. For those interested in VR and AR technologies, we have been exploring the potential of the metaverse to see how it can transform society since the early 2000s. In my mind, it’s never been a question of if the metaverse will take hold in society, but when. 

Facebook’s rebranding to Meta Platforms in 2021 was one of the catalyzing events. It sparked an ongoing wave of interest that is growing in momentum everyday. Companies like MootUp by Hyperspaceᵐᵛ (Metaverse for Events) and LearnBrite (Metaverse for Training) have already built metaverse ecosystems well in advance of Facebook’s rebranding and are already being used by organizations around the globe. The metaverse is not on the horizon - it is already it is already shaping the future of work, and businesses are able to take full advantage of it today.

What are the benefits of hosting an event in the metaverse? 

When we attend an event in the physical world, what we really enjoy is the interaction and engagement around presentations. From networking with other attendees to taking part in social activities, events are an all inclusive experience. 

2D events and video conference calls have never been able to deliver this experience, meaning attendees are at risk of not being as engaged or interactive. The metaverse leapfrogs over traditional online events by adding in the 3D element, a sense of presence with avatars along with shared environments. Doing so encourages more active participation from the audience, and quite simply delivers a more enjoyable experience.. 

The hybrid MootUp auditorium with Denny and his avatar

Are there any obstacles preventing companies from using the metaverse? 

I believe this comes down to education and awareness. We have all heard about the metaverse, but I think many business leaders can be confused by its practical application within an enterprise setting. They either think it is too expensive or inaccessible: both of which could not be further from the truth. The metaverse is an open and inclusive online ecosystem, and this is core to our offering at MootUp by Hyperspaceᵐᵛ. 

Unlike other platforms which require users to download software or require VR headsets, MootUp by Hyperspaceᵐᵛ runs on any browser and any device with no downloads or installations. All online events can be accessed via a web link, meaning that anyone can access the 3D virtual environments in a matter of seconds using their own unique avatar.