Almost every day we hear or read new news about the metaverse, a universe that promises to revolutionize the way we live. Aware of this reality, more and more brands and companies are “moving” to the virtual world to explore its possibilities and offer their products.

The luxury sector has already begun to enter this universe and, according to an analysis by Morgan Stanley, in 2030 virtual luxury goods will move about 50 billion dollars.

The high-end is entering fully into virtual worlds and web 3.0, taking digitization to a new dimension in combination with the physical experience.

Círculo Fortuny, the most representative association of the high-end in Spain, organized on February 7 its emblematic ‘Fortuny Day’ precisely around these new channels that are bursting with force and are creating new ways to reach the consumer, especially the Y and Z generations.

Xandra Falcó, president of Círculo Fortuny, welcomed the event and introduced the day from the metaverse, surprising all attendees. In a virtual universe he received Nacho Pinedo, CEO and co-founder of ISDI.

The president began by offering Wikipedia’s definition of metaverse: “A post-reality universe, a perpetual and persistent multi-user environment that merges physical reality with digital virtuality. It is based on the convergence of technologies, such as virtual reality (VR) and augmented reality (AR), that enable multisensory interactions with virtual environments, digital objects and people.” A definition somewhat complicated to understand a priori.

Both took a leap into our universe and the journey began. Pinedo defined the metaverse concept as a “metaphor to try to explain the new evolution of the Internet”.

It should be noted that there is no single platform for the metaverse, there are different ones. Although Pinedo recalls that there used to be different ‘internet’ until he unified the protocol.

The metaverse on each platform operates with different engines, rules, interfaces and economic models. And, in general, there is no interconnectivity or interoperability between them. That is, it is not possible to move avatars or objects from one to another. Now, “everything we are contemplating right now is simply a ‘proof of concept’.”

To try to make us better understand the metaverse, ISDI’s CEO commented on the keys to it, which would be:

Spatial and sensory user interface. Users enter the virtual universe through an avatar that they can customize. In addition, they use glasses or screens to move and immerse themselves in the new space.

Immersive and open environments. Developers translate reality into the virtual environment, creating new worlds in which things exist and happen.

Real interactivity. Each platform sets its own rules. For example, if users can fly, how they can relate to each other and to their environment….

Native virtual economies. New economic environments into which consumers enter are appearing.

After this introduction, Esteban Ordano, co-founder of Decentraland, and Alexander Wit, owner of Lladró, discussed the different metaverses and how we can anticipate what is to come.

Ordano commented that one of the things that is working the most is the ‘phygital’ item. What does it consist of? You have a NFT in the metaverse that is a digital dress and whenever you want you can exchange it for a physical version.

He also explained that, although there are different virtual worlds, if you have an NFT you can keep it even if the world in which you acquired it disappears as long as the blockchain remains functional. “You have the assurance that you’re not going to lose your digital item.”

Next, Nelly Mensah, head of Web 3 and Metaverse worldwide for the LVMH group explained NFTs and web 3.0 in the high-end industry.

“Our brands have a unique opportunity to infuse their DNA into the Web 3 space,” he noted. He went on to explain that in the short term there will be a shift towards more practical uses.

In the long run, he points out that it will impact both individuals and organizations: “It will change how luxury brands interact with their customers. The expert commented that young people want to co-create, as we see them doing with Nike designing their own sneakers; in addition, new ways of buying will appear and organizations will have to get used to interacting with their consumers.

Web 3 will also have an impact on talent within companies, which will be looking for new profiles. In addition, companies will have to evolve their internal processes and infrastructure.

In any case, this “new” web still has to face some challenges such as the audience, which is still too small and insufficient to have a real impact; it will have to broaden the range of skills and profiles of those who participate in web 3; it is still a speculative market and technical problems have to be solved.

The web 3.0 transformation in the high-end industry was the focus of the round table, moderated by Nacho Pinedo, with the participation of: Mauro Fuentes, Digital Marketing Director at El Corte Inglés; Vanita Sabnani, Vice President of Transformation, Strategy & Creative Lab at Puig; Carmen Huerta, Digital Art Curator; and Roberto Romero, Metaverse Continuum Creative Technologist at Accenture.

For Fuentes, in the future, when we go to buy a garment, we will also be able to take it with us digitally. The Digital Marketing Director believes that the metaverse will provide an added value to the customer experience in the purchasing process.

“We see the metaverse as an extension of the real world,” Sabnani noted. For her, this is just as important, but companies will need to consider why they want to enter. In the future, he believes, like Fuentes, it will operate in an omnichannel manner.

According to Romero, when we talk about metaverse and business, “we are talking about a community, a bilateral relationship with consumers”. However, he warns that it is essential to be clear about who you are going to sell to and what you are going to sell.

Regarding artists, Huerta considers that we are at a time when “they can dream”, since “technology is at the service of art”. In addition, he commented that what is working is the ‘phygital’, “many artists work both ways”.

Finally, Sofía Martínez-Almedia, partner at Gómez-Acebo y Pombo, spoke with Emilio Capela, Digital partner at McKinsey, and they addressed the issue from a legal perspective.

“What do I want to achieve, who do I want to impact, and what underlying value am I going to provide?” are three questions Capela believes should be answered before venturing into these projects. Martínez-Almeida added, “we must be clear about the project we want to carry out”.

In addition, they reviewed the legal issues that companies should pay attention to before launching into virtual environments.

Finally, Xandra Falcó closed the event and gave way to a cocktail and a virtual experience for the attendees to enjoy.

Source – https://www.elespanol.com/mujer/actualidad/20230208/sector-metaverso-comprarias-vestido-digital-intercambiable-fisico/739426225_0.html

The metaverse is still in the early stages of its journey towards mass adoption by the public. At the moment, most users are learning to understand what the metaverse is, what changes it will imply in the way we consume and interact with technology, and what it will take to immerse themselves in it. But forecasts suggest that by 2026, 25% of people who now regularly connect to the Internet will spend an average of one hour a day in the metaverse. What seems new today will soon become part of normality.

This is why many major players in different markets – investors, technology giants and companies not strictly related to the metaverse – have been moving the pieces on the board for a couple of years now. Above all, investing in “digital real estate”. What is the reason for this strategic positioning?

Soon, one of the most sought-after assets in the metaverse will be the “virtual space” to build, i.e., digital land where it will be possible to “build” homes, buildings for different purposes, leisure centers, recreation centers and many more. And also places to locate offices, meeting places and to develop events. What is now an unused space will be available for rent and sale in a few years.

The possibility of holding events in the metaverse opens up an enormous range of possibilities for organizations, companies and institutions. Having a presence in the virtual world, in addition to being able to organize events in it, brings numerous advantages. Among others:

Link the corporate brand to the development line associated with technological innovation.

Positioning as leaders in the digital transition strategy.

Save a considerable number of resources, which would be essential in a physical event but are not necessary in the metaverse.

Reach a potentially global audience by eliminating physical or geographic barriers.

“Decentralize” the processes – of which an event can be a part – in the same way as can be done with production or management.

Open a window of opportunity towards the internationalization of the activity.

Increase or settle security and responsible data transfer policies since, in the metaverse, one of the main technologies -the blockchain- is inextricably associated with both concepts.

In order to take advantage of the possibilities of the metaverse and take advantage of these benefits, organizations and companies must start acting now. Either by acquiring assets in the metaverse in order to exploit them later, as mentioned above, or by taking into account the strategic development path in the metaverse in their medium- and long-term plans.

As is the case with the general public and the set of users of the various metaverses, executives – or at least those responsible for this strategic line – need to understand and be fluent in the technologies that operate and will operate in the metaverse: blockchain, cryptocurrencies, NFTs, avatars, virtual reality headsets, etc.

And, in the same way, analyze and bet on the implementation of existing solutions to gain a foothold in the metaverse today. To have a “virtual headquarters”, to organize events in the metaverse that raise awareness of the brand and/or its products – albeit with the limitations of a developing technology – to sponsor or finance gaming events in the metaverse and, above all, to identify and take advantage of the trends that will be commonplace tomorrow and that will turn the metaverse into yet another arena in which to compete.

Source – https://www.lyntia.com/news/el-metaverso-y-la-organizacion-de-eventos-una-nueva-era/

Factors for organizing an event

It is of vital importance that the company is clear about whether we need a traditional organization or instead we are looking for something creative to attract the attention of the guests. Equally important is to be clear about the dates and location of the celebration, the budget we have for the event, the development program, the management of suppliers and the actions to be taken before, during and after the event.

Development of the event

As we read in this information about event organization in Bilbao, the organizing company has to be very clear about the characteristics of the type of event to be held. If you are clear on this point, you will have no problem providing us with the information. This information will depend on the type of event the company wants to organize, as there is currently a wide variety of events, including exhibitions, congresses, festivals or fairs.

Analysis of objectives

Preparing an event is very important, but having clear objectives is also important. The company that is going to organize everything for us must be very clear about what the objectives are and how it is going to achieve them. To achieve this, it may be a good option for the organizing company to be able to prepare the event while maintaining the company’s philosophy. In this way, the whole essence can be transmitted without any problems.

Preparation of the guest list

An event without guests is nothing, which is why it is so important. As expected, the company that schedules everything will have to pass a list to the company that will organize the event.

In this list, the number of guests must be stated, so that the organizing company can create the invitations, send them and confirm that the attendees will attend the event. Depending on the professionalism of the company and the level of the event, the invitation will be of more or less quality. But what is really important is that the entire guest list receives their invitation so that they have the option to attend.

The importance of the chairmanship and the host

Any self-respecting event must have a good chairman and a good host to show that the company has managed to do a good job, even if it has been done by the hand of an organizing company. These figures should always be present, especially if the event is of a formal nature. In this case, the host will be the most important person and will be the first person to represent the company holding the event.

The importance of the host in this type of event is very important. If the role is not defined, the organizing company may recommend a series of specific functions to ensure that everything runs smoothly.

Normally, one of these functions is to preside over the event, while the company should place the guests in order of importance. To give you an idea, the guest of honor must always be seated next to the host.

Finally, it is also important that the company is able to make the event the trending topic of the moment to attract everyone’s attention and show that the company has done a good job. Remember, the purpose of events is to publicize the company or showcase something.

Source – https://empresasymarketing.es/informacion-solicitar-empresa-organizacion-eventos/