Map panaroma image to use as backdrop environment

I captured this image using panaroma from my mobile camera. Now i want to use it as backdrop image in my scene.
I have 2 question:

  1. What should be the best geometry to project on
  2. how to make correct UV so no distortion feels in image.

Use the import images as planes Add-on to import the picture.

Add Loop Cuts to make faces close to square.
Loopo Cuts

Then subdivide so image can bend and to stop UV distortion.
Subdivided

Apply Rotation.
Add Simple Deform Modifier.
Deform

Set Angle to -360 to make a closed circle with your image

Turn on Backface Culling in the shader to make the image transparent from the outside.

Scale to the size you need…

Thanks very much for taking time, i will do the same for other person need help…