Virtual Events in the Metaverse

PUBLISHED May 28, 2024, 2:19:54 AM        SHARE

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Revenue from Metaverse Events

Live events aren’t going away anytime soon. In 2023, polls found an increase of Americans (63%) went to or planned to go to a live event. This was a rise of 3 percentage points from 2022.

Since the end of the Covid-19 pandemic, consumers are flocking back to live events. But virtual events are still taking a share of consumer attention. Statista estimates the metaverse live entertainment market will reach $89 million in 2024. The segment has an estimated CAGR of 10.12% per Statista, making the growth not as high as the overall expected growth of metaverse revenue, which multiple sources project to be anywhere from 30% to up to 50% CAGR.
So even though this metaverse revenue source may not have the same forecasted growth potential as other revenue sources like metaverse advertising, it still is part of the metaverse revenue arsenal.

How Metaverse Platforms make Money on Virtual Events

The key ways virtual events can make money for metaverse platforms is with ticket sales, sponsorships, and virtual goods sold.
The profit may indirectly go to the metaverse platform thru developers or the use of internal currencies like Robux. With Roblox creating its own advertising platform, live events could see a spike of revenue for platforms as developers jam more ads into their events.

Ticket Sales

Just like standard live events, metaverse platforms can make money from ticket sales for VR events. A recent example is Doja Cat’s VR show on Meta Platforms (formerly Facebook). The event occurred for the Oculus VR set and it looks like about 30,000 people were interested.

Sponsored Events

During the 2024 Super Bowl, Nickelodeon sponsored a live event on Roblox The event had special experiences around their core kids brands like Sponge Bob Square Pants and Teenage Mutant Ninja Turtles. This isn’t the only example of corporations dabbling in the metaverse. Major brands like Gucci, Adidas, and Chipotle have sponsored metaverse events, experiences, and real estate.

The Sale of Virtual Goods

So you should have come here as a stock investor, curious about metaverse stocks. It could be fair to say that you may be skeptical of the mere idea of virtual goods. Alas, virtual goods are here to stay. Roblox has a vibrant market for virtual goods. Roblox notes that millions of virtual goods are sold every month on the Roblox market. Virtual goods are sold in most popular video games these days. With Roblox, these virtual goods can be special for a unique event. At the 24kGoldn event in 2022, multiple pieces of virtual merchandise was sold.

24kGoldn Sign

These included signs, a golden football, and shades. Different pieces of merchandise were selling from 60 to 430 Robux.

Top Metaverse Events so far

Several large-scale events have taken place in various metaverses, attracting millions of users. Here are some of the most significant metaverse events so far:

The Bottom Line

The metaverse is booming, but the live events space was soft in 2023. It looks to be picking up again as interest in the metaverse is increasing. With Roblox creating its own ad platform, live events could see a resurgence as event creators see a new way to monetize their events.

Read More

Investments in Metaverse Stocks

How the Metaverse Makes Money

Metaverse Investment Analysis

RBLX, Buy

Roblox Corporation
Return: 83.54%

RBLX, Buy

Return: 83.54%


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