In the before times, I wrote a brief tip sheet on how to emcee a show. They hold up whether the show is live or virtual.
Emceeing is a skill that entails:
Opening the Show:
You’re the first comic the audience sees.
Reading the Room:
Figuring out who’s in the audience (demographic and geographic), how they feel, what they want and need. (Some audiences need to be talked to. Some just want you to get to the jokes. It’s your job to know which one or both.)
Setting the Tone:
Command the stage, the room (the screen), and be funny AF. This lets the audience know that they don’t have to worry. They are in capable hands and they’re going to have the good time they came for.
Bringing the audience together as… well… an audience. Remember, chances are they all didn’t arrive in the same car.
Letting the audience know what's required of them: No loud or excessive table talk. In a virtual show, this means asking them to mute their microphones if there's a lot of background noise or doing it for them if there's no dedicated tech person.
Then: introducing each comic with respect and enthusiasm. (Yes, even if you hate their guts. What? It happens.) Pro Tip: Pronounce their name correctly and give their actual and preferred credits. (Comics: Don't make the emcee look for you. Be there. Be ready.)
Being in the Room:
Watch the show. See what’s going. Make connections, comebacks, and call backs. Get buy-in from the audience. "Did that just happen? Did we just hear that?"
Be The Captain. Lead.