Virtual Reality (VR) has rapidly grown in popularity, and its influence is increasing in the entertainment sector. It allows people to experience a variety of events in a new, more immersive way from anywhere in the world. With the COVID-19 pandemic causing global lockdowns, the demand for VR entertainment has only increased, making the space for VR bigger.
In this article, we will explore the future of virtual reality events, looking at the rise of VR, the advantages of virtual events, popular VR headsets, innovation in virtual reality events, and the future of this growing industry.
The Benefits of Virtual Reality Events
Virtual reality events offer several benefits to attendees, including:
- Ability to attend events from anywhere in the world
- Significant cost savings in travel and accommodations
- Convenience of attending events from home
- More immersive and engaging experience
- Allow users to interact with the virtual environment in ways not possible in real-life.
These advantages are particularly relevant today because the entertainment industry has reimagined the value proposition of live events since the onset of COVID-19. People want to continue engaging with the entertainment industry, and virtual events provide a robust solution.
Plus, attendees can customize their experiences entirely according to their interests because of VR technology’s shared interests feature. This customization could make for a better and more tailored event experience, leading to higher satisfaction rates.
With the help of virtual reality events, people can participate at a sporting event or attend a live concert without being physically present. The growing popularity is demonstrated in VR concert platforms such as AmazeVR, Amaryllis Fleming Concert Hall, and Oculus Venues.
Additionally, virtual reality concerts and entertainment platforms offer social features, including VR Tour, a service that enables fans to access 360° VR filming of live concerts with music artists like Vance Joy, opening up new, immersive music experiences.
Stay tuned to the next section to find out more about the top VR headsets for virtual events
The Top VR Headsets for Virtual Events
There are several VR headsets available on the market, but some stand out for virtual events:
- Meta Quest 2: This headset is a popular and affordable option for both casual and serious gamers. It can wirelessly connect to a PC for high-end VR experiences.
- Sony PSVR 2: The Sony PSVR 2 is the top choice for console gamers, offering an immersive and high-quality experience.
- Meta Quest Pro: This VR headset is a pricier, luxury option with advanced features such as hand-tracking capabilities and higher resolution display.
- HTC Vive Flow: An excellent choice for casual VR users, this headset is lightweight and designed for maximum comfort.
The VR technology industry is growing, with LG Technology Ventures recently leading a $16.5 million investment for AmazeVR. It offers a virtual stadium in multiple locations, providing a lifelike concert experience for participants. The platform also offers several live concerts with music artists and significant UK venues to ensure variety.
Innovations in Virtual Reality Events
Innovations in virtual reality events affect the way people engage with events and venues. With the potential for VR being limitless, it offers numerous opportunities for creative customization. Here are some innovations in the field:
- Customized Games: VR app stores offer customized games that cater to the different needs of all age groups and skill levels. These games have unique features and help engage users better.
- Open-Source Technology: Many open-source technologies are working to expand the possibilities of virtual events. For example, Matterport’s Stereoscopic Photogrammetry Reality 3D is an innovative technology that creates real-world 3D scans of objects and locations, which can be accessible to all programmers.
- Creating a Virtual Community: Social media platforms such as Facebook offer VR apps, bringing about virtual community experiences that enable people to meet and interact with others around the world. The app can also allow users to hold virtual meetings and attend virtual concerts, among other events.
The innovation consultancy, Digital Design and Media Ltd, is creating a gaming universe that allows users to carry out daily actions through VR. It will enable people to attend stand-up comedy shows and interact with the comedian. As innovations continue, users have high expectations for virtual reality events, and this highlights the potential of the entertainment industry to offer engaging and immersive events.
In the next section, we will discuss the future of virtual reality events.
The Future of Virtual Reality Events
VR technology is still in its early-stages, but there has been an increase in demand for these events in recent years. The pandemic has forced many industries to adapt to digital channels to survive, with virtual reality events such as concerts, sports, and movies becoming the norm.
Recent data from GS Futures shows an increase in investment in virtual reality development, with CJ Investment, Smilegate Investment, and Mirae Asset Capital being among the top contributors. The pandemic has created urgency to leverage technology to support the entertainment sector, thus leading to more investment.
Virtual reality technology will continue to advance, leading to new developments in the field. One such development is the HTC Vive Flow, which aims to offer a lightweight, comfortable, and low-cost headset option without sacrificing performance.
VR apps and virtual reality live performances will make popular events such as concerts, sporting events, and comedy shows more accessible, affordable, and immersive. Red Rocks Amphitheatre has hosted several live VR concerts, including Moderat from Berlin and The Lumineers. Such events demonstrate how virtual technology and reality can converge to deliver an entirely new form of entertainment.
Virtual reality events have come a long way since their inception, providing innovative entertainment experiences. The industry continues to grow, and with the advent of the pandemic, growth continues on an exponential curve.
As technology improves, we can expect to see more VR features added to events that include more social features, personalized customization, and social communities. The future of virtual reality ensures users can experience unlimited opportunities, which is expected to have a positive impact on the entertainment industry’s growth milestones.
The demand for virtual reality events has made it a lucrative field in the entertainment industry, and with the growing investor interest, it can be concluded that this field will be one of the top disruptors in the entertainment space.