The Evolution of the Events Industry Post-Pandemic

Considering the average age of those working, engaging, and investing in Web3, the majority will have never experienced something so life-altering and normality-disrupting as the Covid-19 pandemic. Entire volumes have already been written about the social, psychological, and cultural effects of the pandemic, and many more are yet to be scribed.

Within weeks of global lockdowns beginning in early 2020, our favourite artists were hosting live-streamed bedroom sessions on Instagram, Facebook (NASDAQ:META), and YouTube. However, it wasn’t only musicians and events that had to think fast and adapt to the unforeseen challenges of the pandemic. Business conferences that would have needed to be rescheduled instead pivoted to Zoom, Skype, Google (NASDAQ:GOOGL) Hangouts, and dozens of different Webinar platforms. Yogis found huge audiences, touching their toes as they touched millions. Streamers became national icons and were given substantial recognition for their efforts. The glass screen became our portal to the world, without anyone even leaving the house. They were unusual times.

The pandemic revolutionized a huge number of technologies and industries, embracing the cataclysm as a catalyst for disruption. The events industry appeared totally crushed, with red CANCELLED stamps covering ticket websites, and festivals mentally dismantling stages before the crews had even arrived to put them up. Yet, with all of this disappointment and dismay, came a tale of disruption, revolution, and progress. It’s a comeback story for the ages.

The Creation of New Audiences, Communities, and Innovations

Live Streaming didn’t emerge in March 2020 as something brand new, it’s simply that hundreds of millions of people had simply never engaged with it. Suddenly, huge swathes of new users who were stuck at home and seeking entertainment found their way to streamers. Then, just as live streaming started making huge waves with global audiences, the Metaverse, with its virtual environments for gaming, events, commerce, and more, came along and joined the conversation. For people who wanted a more engaging experience, since live streaming can often feel just like watching TV, the Metaverse brought a fun way to enjoy events.

One artist who embraced the Metaverse to avoid losses on cancelled tours was US Rapper Travis Scott, whose Astronomical concert on Fortnite was a stunning insight into the capabilities of Metaverse-based events. Whilst Fortnite isn’t a blockchain-based Metaverse, 45.8 million people still laid down their laser guns for the 10-minute digital concert built inside a Battle Royale shooting game, earning the artist an estimated $20m for the April 2020 event. That’s arguably more than he could have hoped to make from a physical tour, and with a tiny fraction of the physical effort. Not a bad ROI.

With Travis Scott and Fortnite capturing the imagination of international artists, many major acts joined forces with competing metaverses and ran their own events, to differing levels of success. Singer Ariana Grande followed Scott to Fortnite (27.7m viewers), French DJ David Guetta performed on Roblox (900,000+ viewers), and Foo Fighters performed on Meta (though severe technical issues left most fans disappointed). Canadian popstar Justin Bieber performed on Wave (to 10m people), Young Thug on Horizon Venues (though only 125,000 showed up), and Post Malone bizarrely collaborated with Pokemon for an AR/VR-inspired 25th-anniversary concert that saw him travel on a floating rock through the Pokemon world while performing.

Malone’s performance racked up 15m+ views and went to #1 on the Spotify charts, lighting a big fire under the discussion about metaverse performances. Italian YouTuber and Musician Valerio Mazzei also proved that events don’t necessarily need to be in English to attract a metaverse audience after he packed out the crowd for The Nemesis’ Valentine’s Day Show.

These different metaverses and artists all found ways to collaborate and leverage their unique audiences to provide incredible shows, revolutionary entertainment, and huge growth all around.

Was the Pandemic the Catalyst for Web3 Events?

Facebook, YouTube, and Instagram were already hosting Web2 live streams, with viewers adding thumbs, hearts, and comments, but they lacked the amazing experiences that Web3 brings. With Web3 events, we can dance, fly, have conversations, trade memorabilia, engage with the artist, enjoy thousands of perspectives of the event, and see unlikely crossovers that can’t happen in real life (Post Malone and Pikachu saw to that).

This evolution of events would likely have happened regardless of a pandemic. Perhaps at a slower adoption rate, of course, but when you see what projects like The Nemesis have built and how it offers global accessibility, it’s hard to imagine a world where digital attendance would not overtake physical attendance. Of course, that being said, there are a number of NFT projects that aim to make digital events gated and exclusive, much like local events, which will of course draw their own audiences.

Metaverse Drives Interest in New Technologies

Most recently, The Nemesis and their easily-accessible Metaverse played host to Web3 conference Zebu Live, offering an insightful crossover that both highlighted Metaverse technology whilst also inviting avatars to learn about other Web3 projects. Attendees were able to explore the event, visit different stages, interact with Web3 sponsors, chat with other guests,
run, jump, dance, and even play on a virtual pinball machine. For those who didn’t get a ticket for the event, it was the next best thing - and access to The Nemesis was free on both mobile and in-browser, without needing to connect a wallet.

If an event in The Nemesis clearly goes so much further than the capabilities of live streaming on Youtube, it is asking a lot of questions about how YouTube plans to innovate for future streaming events. At some point, a live chat will simply not be enough to maintain and impress an audience. Therein lies a huge opportunity for Metaverses like The Nemesis to steal attention away from traditional content platforms.

Hosting conferences in the Metaverse essentially goes full circle, with The Nemesis keen to support interactive events that offer education, awareness, and insight on Web3. This is key to this emerging industry and who knows, the next Web3 pioneer may have been there, dancing with a digital avatar and launching fireworks at their favourite guest speakers.

Verdict: Musicians Were First, But Certainly Not Last

With all of this wonderful hindsight, it can be seen that musicians and fitness gurus were the first to react when the lockdowns began, but post-pandemic, it is metaverses and GameFi set to take centre stage. With so much out of our control back in 2020, most innovations were reactive and rushed. Now, with a couple of years of huge digital events in the bank and the emergence of so much remote talent, we are starting to see projects like The Nemesis lead the evolution of the events industry post-pandemic.

The truth remains that in the global events space, the Metaverse is just an infant. As it grows up, who knows what incredible things it can accomplish? The skies are the limit.