Elaine Byrne , project director , Sledge , talks about how corporate events can leverage the metaverse and NFTs to change the game

he metaverse has been one of the most talked-about trends over the past 12 months . So much so , that analysts at Bloomberg are predicting the metaverse could be an $ 800bn industry by 2024 .

We ’ ve been seeing a lot of brands embrace the platform to generate buzz and intrigue , such as The Gucci Garden installation , Samsung ’ s virtual pop-up in New York and , more recently , Metaverse Fashion Week , where Dolce & Gabbana , Selfridges and many others showed off their wares .

So , how can the metaverse , as well as NFTs , which are more often than not closely linked to these experiences , be applied to corporate events ?

Key questions to consider before taking the leap There are no doubt some great opportunities for corporates in this space , but as with all of the

newest , shiniest technologies out there , it ’ s important to avoid investing in the metaverse for the sake of it . Just as a typical event takes a lot of planning and strategising before it comes to life , so too should a metaverse .

Ask yourself the same questions you would when taking a brief for an event . Consider whether it ’ s the right avenue for the brand right now , which goals or objectives the experience will help the company achieve and whether it ’ s relevant to the target audience . It ’ s also important to note that a metaverse takes time , sometimes years , to create , so does this ladder up to the timeframe you ’ re working within ?

Creating metaverses with meaning Just like corporate events , the metaverse is all about bringing people with shared interests and passions together in meaningful ways , so they can connect , learn and even play .

The metaverse goes one step further , as it allows us to create virtual societies that exist in the long term , with people and their avatars dipping in and out as they please . There ’ s a lot of opportunity for corporate events , from

Elaine Byrne , project director , Sledge

“ Just like corporate events , the metaverse is all about bringing people with shared interests and passions together in meaningful ways .”

conferences and exhibitions , to employee engagement initiatives and incentives in the metaverse , as it allows companies to continue the conversation with their communities outside of the real world .

The metaverse allows us to create branded worlds where people come to meet and connect , purchase NFTs ( more on this one later ) and play games at a time that suits them , while also consuming content and information that is relevant to their roles and your brand , which like a news cycle , can be updated daily or multiple times a day .

This is then able to be complemented by a suite of special virtual event experiences which are hosted within the metaverse on a regular , say weekly or monthly , basis . It creates meaning as people create unique bonds – they also come back again and again for learning and education .

Leveraging the link between the metaverse and NFTs We ’ ve seen NFTs , which are digital certificates that act as an individual ’ s proof of ownership of something similarly digital , used to sell everything from limited edition