While businesses around multiple industries are still imagining the potential revenue possibilities Metaverse offers, the gaming sector is already growing. As per the recent survey by Statista, 52% of the gamers in the US believe that Metaverse can revolutionize the gaming industry.
Moreover, the Industry reports forecast says that the global Metaverse market is expected to reach $1527 billion by 2029, growing at a CAGR of 47.6% (from 2022-29). These figures certainly make it fascinating to see how Metaverse gaming is transforming cyberspace with immersive environments and interactive 3D platforms.
So, If Metaverse in the virtual gaming business interests you, this article familiarizes you with various implications of Metaverse in gaming, how gaming businesses are adapting to the technology and how you can get started.
Moreover, if you are looking to get accurate Metaverse insights aligned to your business needs, you may begin by partnering with a trusted Metaverse development company. The experts there can guide you throughout the possible development prospects.
So let’s begin:
Metaverse in Virtual Gaming: Before and After
Before Metaverse was introduced, first generation games were the go-to platforms for the players. These games were less interactive and allowed less control to the players. Further, with the second-generation games, virtual gaming enhanced but without any financial commitment.
With the introduction of blockchain powered games, businesses could finally monetize via different strategies. Along with blockchain, came NFTs and cryptocurrency that act as a base for virtual games today.
Currently, Metaverse based virtual ecosystems have evolved in the gaming industry that offer a next-level virtual experience to its users.
As a gaming business, you can either centralize or decentralize your Metaverse platform, although major enterprises focus on decentralized projects since the future is decrypted.
Now, if you ask about the Metaverse implication in virtual gaming, a new gaming reality called Web 3.0 has ushered in. Web 3.0 allows players to create and move characters (avatars) from one gaming experience to another. This model is popularly known as the “play-to-earn” model in the virtual gaming sector.
But how is Metaverse immersing with virtual gaming so quick? Metaverse is certainly supported by modern tools and technologies that drive the new era games. Let’s take a look at these technologies.
4 Modern Technologies Driving Metaverse in Virtual Gaming
The gaming Metaverse has been utilizing advanced technologies and has urged modern businesses to shift their focus towards reinventing virtual animated games. Below are few of the significant next-gen technologies that are required to develop a gaming Metaverse.
1. AR and VR
The well-known AR/VR technology offers exciting and inevitable 3D experiences empowering Metaverse development. AR (Augmented Reality) creates an amazing virtual world using visual characters and elements. Moreover, the technology facilitates smartphones and digital devices to let customers enjoy impeccable gaming experience.
2. Blockchain and cryptocurrency
Blockchain technology is the primary force of Metaverse in gaming. It allows companies significant benefits including digital proof of ownership, digital collectability, interoperability and transfer of value.
Also, Metaverse based cryptocurrencies enable users to transfer value in the 3D Metaverse.
3. Internet of Things (IoT)
With the power of IoT solutions, Metaverse can obtain, collect and utilize massive data from the real world. The applications of IoT connect the virtual world to the real smart world through digital devices so that objects can easily switch in the changing environments.
4. 3D technology
Implementing 3D applications is a long traditional practice in the digital era. However, 3D reconstruction completely changes the format, enhancing engagement and information tours to the users. Real estate segment has been one of the early adopters of 3D reconstruction technology using it to make virtual property tours for potential buyers.
Other than the above-mentioned technologies, businesses also leverage AI and Big Data Analytics to analyze and gain insights through virtual gaming platforms. All these technologies combine to create an unreal environment for Metaverse development.
Now, this again brings us to the question “Will Metaverse survive in the gaming industry?”
Well, Metaverse is the future of virtual gaming.
Future of Virtual Gaming Metaverse
Metaverse has taken the virtual gaming industry to new heights. Now as a mainstream technology, Metaverse is the only next big concept that can transform the gaming world. Although Metaverse in virtual gaming is still in its initial stages, businesses are trying their best to launch next gen Metaverse based platforms.
Sandbox and Decentraland are the prime examples of such futuristic projects. In addition to this, Microsoft and Facebook are coming with their unique Metaverse ideas in the upcoming years.
Therefore, you are more likely to experience a much-enhanced version of Metaverse in the future of virtual gaming.
How can you get started? You can discuss your project ideas and prospects with an experienced Metaverse development company. The team there can serve as a strong service partner to take your idea off the ground and lead it to success.