The term ‘metaverse’ may be one that many people have only recently come across. With Facebook changing its name to Meta lately, we were bombarded with explanations as to why. The clear reasoning given is that Facebook, sorry Meta, intends to rule the metaverse. All well and good, but before Zuckerberg made his announcement, the term was one that many lay people had no, or certainly limited, knowledge of.
Things are different now, of course. We all know that the metaverse is set to offer us experiences that, seemed a complete fantasy up until now. What we are promised is a network of 3D virtual worlds that allow for social connection. All of this comes via VR and augmented reality headsets, offering a whole new world that is almost actually tangible.
There is little doubt that iGaming has always been a prime candidate for VR. As we move forward and see the metaverse develop and grow, are we going to see iGaming and gambling take off in this new environment? Or will players still seek out what they already know and feel safe with? Let us take a look.
A Closer Look at the Metaverse
It is worth highlighting that although many of us have become more familiar with the term, the word metaverse still comes across as a little vague. For some, it appears too complex to comprehend whereas others actually go to the other end of the scale and oversimplify it. The clearest way to think of the metaverse is a cyberspace. It is a place where things happen. Rather than being one new form of tech, it is a shift in how and where we interact with technology as a whole.
You can see the most common example of how the metaverse works by exploring virtual reality (VR). The metaverse allows for virtual worlds, and these worlds continue to exist and function even when you leave. While you can access such worlds via VR headsets, there is nothing to stop people from joining them via a PC or even a mobile phone if they choose to.
Beyond the games and VR, the metaverse translates to a digital economy. It is an environment where goods can be bought and sold. You can go shopping and buy a new shirt for your metaverse identity, or you can even visit a casino. The driving force behind such a digital economy will come down to cryptocurrency.
The Rise of Crypto Casinos
The digital economy aspect of the metaverse will undoubtedly see an increase in popularity of crypto. As many players will already be aware, casinos that accept the likes of Bitcoin are already popular thanks to the host of benefits that they offer. These advantages include the levels of security, the speed of payouts and the low fees. Yes, traditional slot sites like these are still popular; however, crypto and blockchain are growing and may well become the number one choice in time.
Existing in a virtual world sees crypto making even more sense. While there are plenty of real-world applications for Bitcoin and Ethereum, to name but two currencies, using them in a cyberspace is a logical step. This opens up the chances for crypto casinos to develop and increase in popularity even faster.
How Covid has Boosted the Development of the Metaverse?
As the world edges cautiously away from the need for lockdowns and control measures for Covid-19, some changes are likely to remain with us forever. As people were unable to leave their houses, go to work or attend things like concerts, we were all forced to turn online to meet our needs.
One of the major winners, if there is such a thing, which has emerged from Covid is Zoom. This platform saw record use as people sought ways to interact, both socially and professionally. Online work meetings have become the norm and a pretty convenient way of communication: why spend hours commuting to sit in a conference room when you can converse face-face online?
In terms of socialising online, what we saw were families around the country holding weekly quizzes as a way to interact. We also witnessed games like Fortnite offering concerts for players to attend. It became accepted that players would attend a virtual island, as a virtual character, to enjoy a virtual concert while surrounded by virtual friends.
As people got more of a taste for such interactions, there became more of a need for the metaverse to develop. There was a need for those working towards its creation to keep up with the newly formed demand. The demand caused by Covid.
The Old vs the New
While the metaverse offers some great developments, will these be enough to draw players away from land-based casinos or the online experience that they currently have? Of course, land-based venues offer a range of games, but more importantly, they create an atmosphere and add a social element to gambling. This is something that many players crave.
What online casinos offer is a huge range of games all with added convenience. You can enjoy slots, card games and dice games without even leaving the house if you choose so. With the development of mobile gaming, you can enjoy casino games no matter where you are. For those looking for something closer to the land-based experience, online casinos can invite you to excellent live rooms with real croupiers and a fantastic atmosphere.
The fact that online casinos have gone on to offer live games suggests that the metaverse really will provide the catalyst for VR in iGaming. There is a chance for players to enter a virtual space that is just like a land-based casino. There will be the ability to interact with other players and even enjoy a drink at the bar before jumping into your favourite casino games. In a world scarred by the pandemic, with fears of indoor spaces, the metaverse and its VR capabilities provide the perfect environment to enjoy the casino experience.
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