📝Abstract

The market for virtual events on a global scale is an immense sector, valued at approximately 65 billion USD. As we navigate the aftermath of the pandemic, there is a shift towards remote work and interactions that are not limited by time or location. Within this market, there are numerous tools available to suit organizations of all sizes, allowing them to establish connections with potential clients and existing customers, share their concepts, captivate their audiences, foster professional relationships and even facilitate networking opportunities.

The tools function within the Web2 domain, which naturally imposes limitations throughout the various phases of this Present Engage Network (PEN) framework. The inclusion of rewarding participants for their involvement and feedback is not a feature integrated into these web2 tools. Consequently, it is necessary to create a new ecosystem to enable companies utilizing virtual event tools to gain a deeper understanding of their audience's feedback, employ more effective metrics for evaluating event success or failure, and ultimately achieve a higher rate of success in accomplishing the objectives behind virtual events. It is of great significance that providing rewards to the audience for their input is consistently inspiring.

Having a deep comprehension of the current state of the market and recognizing the deficiencies in existing technologies and methodologies, we conceptualized Penverse - an ecosystem on the Web3 that combines cloud computing, blockchain, and AI. Businesses worldwide have the opportunity to utilize this platform for hosting virtual events that involve "Presenting," "Engaging," and "Networking."

Our unique initiative seeks to revolutionize the virtual events industry by providing all participants with the necessary tools and resources to achieve their objectives efficiently.