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Metaverse Gambling Articles, Guides & News

Is The Metaverse The Future Of Online Gambling? 

Mark Zuckerberg has seen the future and it is the metaverse. The CEO of Facebook is among a number of leaders within the tech world who are certain that the next step forward in cyberspace will be a move into the metaverse.  

Films such as The Matrix have offered hypothetical futuristic glimpses into what the metaverse might look like. The phrase was originally coined in Neal Stephenson’s 1992 science fiction novel Snow Crash. 

Zuckerberg is viewing the metaverse as the perfect marriage between communities, creators, commerce, and virtual reality. “What I think is most interesting is how these themes will come together into a bigger idea,” Zuckerberg told The Verge. “Our overarching goal across all of these initiatives is to help bring the metaverse to life.”

Tim Sweeney, CEO of Epic Games, the creators of Fortnite, is another tech giant who is embracing the possibilities that the metaverse could create for his industry. 

“I think I think there will be a linear evolution,” Sweeney told VentureBeat.com. “It’s not going to be a massive sudden disruption. It’s going to be a meeting place for individuals and creators of all sizes, including brands. 

“If you are a car manufacturer, your brand presence in the metaverse isn’t going to be a bunch of advertising for your cars. It’s going to be a place where you can actually drive the cars around and feel the experience of it. We have an opportunity for much, much more interesting interactions.

“Every company will be there at some point.”

Including the online gambling industry, it would appear but that shouldn’t be at all surprising. The giants of sports betting and casino wagering are traditionally on the cutting edge of any technological breakthrough. 

They were among the first industries to fully embrace all that the internet had to offer. When cryptocurrency originally gained popularity, online betting sites were quick to accept this digital currency as a method for funding accounts.

“We have no doubt that the metaverse will change the online gambling sector forever,” FastOffshore’s Ron Mendelson, an iGaming industry consultant, told Yogonet.com

What Is The Metaverse?

To put it into simple terms, the metaverse is going to be virtual reality 2.0. It is viewed as a digital shared space. Hypothetically, everyone on the planet will be able to interact with each other and be engaged is a fully immersive, yet simulated experience. 

“You can think about the metaverse as an embodied internet, where instead of just viewing content, you are in it,” Zuckerberg explained. “You can think about it as the successor to the mobile internet.”

For fans of Star Trek, the metaverse is perceived to be the holodeck come to life.

How Does The Metaverse Work?

Inside the metaverse, participants will be able to customize and design their own personal experience. Avatars powered by Machine Learning and Artificial Intelligence will create suggestions for users but ultimately, the participants will make the call on where they want to go on their metaverse adventure.

The metaverse will be perennial. It will always be operational. As well, it will be permanently synced with real time. Platforms inside the metaverse will interchange. If you like something you’ve done on one platform, it will be available to be moved seamlessly into another location.   

Its Own Functioning Economy

The metaverse will also be a commercial entity. Purchases, both artificial and real world, will be available to be made. A person in search of a new car, for example, will be able to design their own car, complete with all the desired added features and then take the vehicle for a virtual test drive, all without leaving the comfort of their own home.

Expectations are that non fungible tokens (NFT) will become the currency of the metaverse. NFTs are digital assets that operate via the blockchain, which is also the technology that is powering cryptocurrency. 

An NFT can be just about anything. It could be a work of art, or a highlight package of a professional athlete. Basically, if it can be supported on a digital platform, then it’s capable of becoming an NFT. 

Assuredly, cryptocurrency will be a major factor inside the metaverse.

How Will The Metaverse Impact Online Gambling?

Already, some sports betting sites and casinos are stepping into virtual technology by their willingness to accept cryptocurrency as a method of payment at their site. The next step forward, though, is a vastly intriguing option.

“Some companies are already working on integrating casino and betting into the metaverse, which will allow users and their avatars to gamble while exploring,” Mendelson said.

The ability of the metaverse to combine VR with the real world will be a major factor in the world of sports betting. Imagine live betting an NFL game between the Tampa Bay Buccaneers and Los Angeles Rams and instead of live streaming the game on the internet, donning a VR mask and virtually walking into Raymond James Stadium to take in the action in person.

Certainly, the appeal to walking into a real casino is the ambience. The flashing lights. The bells and whistles. The hum of voices and the hub of activity. Inside the metaverse, online casino players will be able to gain this experience, again without even actually being there. 

It’s the next step beyond live dealer tables, the latest online casino innovation. They can step up to a virtual blackjack table and not only see a real dealer, but see and interact with other players at the table, who will be from places all around the globe.

Likewise, you won’t be playing poker in solitude. You’ll be seated at a table with other players in the metaverse, bringing aspects like bluffing and reading the other players into the virtual realm.

Don’t Hold Your Breath Waiting

As enthralling as the metaverse sounds, this magical virtual world is still years away from becoming a reality. Simple economics is another matter at issue. Currently, quality VR headsets cost anywhere from a few hundred to well over $1,000. They’ll need to become much more affordable before the metaverse can become an all-encompassing environment.

However, with the world’s leading technology minds engaged in making the metaverse happen, it won’t be surprising at all to see its development within the next decade. And when it does arrive, it will be a game changer for the iGambling industry.

The Metaverse is the new buzzword in tech. What does it mean? And what new opportunities does it bring?

At its core, the metaverse is about social connection, all in a 3D digital world built on the blockchain. The metaverse opens up a new world that only existed in the wildest imaginations of programmers, gamers, and cryptocurrency enthusiasts.

Big Tech: All In The Metaverse

As the tech world invests more in metaverse projects, gaming will be at the center of wide-scale adoption. After all, nothing can keep someone’s attention more than an entertaining video game where players can socialize with friends and potentially earn and buy assets with real-world value.

Currently, two big metaverse gaming platforms are built on ethereum, leading the charge. Decentraland and Sandbox, in recent months, have had land sales hitting millions of dollars. These innovations have gained attention, and investment from big players like Epic Games, UbiSoft, and Meta to build their piece of the metaverse.

VR, Gaming and Cryptocurrency Meet In The Metaverse

There are different metaverse gaming types, each with its style and processes to suit gamers of all kinds. Gaming in the metaverse takes virtual reality to a new level. Aspects of earlier versions of digital world games like SIMS, Minecraft combined with more recent cryptocurrency games like Axie Infinity to create the future of gaming.

Users will be able to do day-to-day activities like shopping, sitting in a cafe to chat with a friend, and even visiting their work office should they have a space in the metaverse!

Users looking for a little more excitement will attend the hottest concerts or visit casinos to test their skill and luck against the house for real money. If the mood strikes, friends can engage in battles for bragging rights.

For the more entrepreneurial and creative gamer, there are opportunities to build all types of products that can be bought, sold and traded as NFTs, some of which may even cross platforms. Real estate purchases and development are also possible in the metaverse.

The Future of Gaming Is The Metaverse

Although, metaverse gaming may not take off and hit the mainstream in 2022. The following 12 to 24 months will build upon the strong foundations of earlier virtual world games, mixed with cryptocurrency and NFTs, to get us there.