Metaverse focussed company TerraZero today announced a partnership with tech, gaming and AI media and event company VentureBeat, the tech that will see the two build a Metaverse event center and corporate showcase environment in Decentraland.

According to a release from the two companies, Metaverse-enthusiasts can use this space in Decentraland to host and attend virtual conferences, large meetings, tradeshows—and any other relevant virtual event.

“Where a regular conference will only last a few days, with limited paths to sponsorship and monetization, the Metaverse presents an opportunity to have events that can last all year long,” says Dan Reitzik, founder and CEO of TerraZero. “Not only that, but the environment can serve as a continuous hub of learning, innovative technology, community building and business networking. Something like The World’s Fair should be open 365 days a year.”

To kick off this new endeavor and lend more insight into how the space works, the project will officially launch with its own virtual event—MetaBeat— in October.

MetaBeat will use this new space in Decentraland to virtually bring together over 1,500 Metaverse thought leaders and prominent developers from enterprise companies like TerraZero, Roblox, Walmart, Nvidia, Procter & Gamble, Chipotle, T-Mobile, and Soul Machines.

These leaders will use this new event space in Decentraland to provide guidance on how Metaverse technologies will transform the way all industries communicate and do business.

While MetaBeat is launching in October, the team plans to innovate continually and improve this event space to provide ongoing and upgraded virtual experiences for all sectors of business—and entertainment.

“VentureBeat is preparing for the next generation of experiences across media and events. We believe this is only the beginning, and we look forward to continuing our work with TerraZero on this project,” says Hayley Haggarty, GM of Events for VentureBeat.

This latest partnership is just the latest in a string of announcements that shows the Metaverse is booming. Statistics show the market was worth $478.7 billion in 2020 and is projected to be worth $800 billion by 2024. Meta, the company formerly known as Facebook, alone has already invested more than $10 billion into the Metaverse.

According to Gartner, elements of the Metaverse now include digital currency, online shopping, NFTs, gaming, digital assets, entertainment, and even digital humans and influencers.

In fact, just last week, PacSun adopted virtual influencer Lil Miquela—who has 3 million Instagram followers—as the face of its brand.

As companies continue to invest in Metaverse projects, consumers continue to engage. 74% of US adults are joining or considering joining the Metaverse. And, by 2026, 25% of people will spend an hour in the Metaverse per day.