Ellen Britt for CNT #NFT
In 2020, if you were about to launch a business built solely on providing corporate customers events in the real world, you probably quickly changed your mind. But one company saw a huge opportunity to make a crucial pivot and took it.
Founders Kenneth Landau and Jaime Lopez were on the cusp of launching their event planning business, but when in person events ground to a halt with the global spread of COVID, they were stopped in their tracks.
The Pivot
Rather than throw in the towel, the two entrepreneurs got to work on another idea. Instead of real world gatherings, they would plan and host events for companies in the metaverse by providing custom-built spaces.
Their company, Mytaverse, launched in April 2020 and they have been busy ever since building virtual conference rooms, showrooms, auditoriums and more.
User Friendly
Users don’t need any fancy goggles but are able to enter the space using a computer with wifi and use their avatar to both walk around, plus teleport among virtual rooms as well as conference rooms and an exhibition hall.
A Big Fish
By December of 2020 they had reeled in food and beverage giant Pepsico as their first customer, enabling the company to use their platform to host a conference with 450 attendees complete with keynote speakers. Mytaverse closed a $7.6 million funding round just this week and has plans to expand its team as well as bring crypto and NFTs into the mix.
Corporate Value
Companies see the value in not having to send executives away for multiple hours on an airplane or spend huge sums of money bringing people to an in-person conference.
Prices for Mytaverse’s services reflect their corporate customer base, as they charge $9,500 a month for 5 company-branded room templates such as a conference room or auditorium, with prices going up from there for more environments and attendees.
Lessons From Mytaverse
So if you are an entrepreneur and face some sort of challenge, learn from Mytaverse. How can you pivot your product or service to make lemonade from those lemons?
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