How the Metaverse Will Impact Gaming Industry

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If you’re not yet familiar with the concept and idea of the Metaverse, it’s time to do your research; experts are touting it as the next big thing. Research showed that the global market value of the Metaverse this year is $47.48 billion, and it is expected to surpass $678.80 billion by 2030. This indicates that the Metaverse will surely secure its place as a key element of the tech industry in the coming years.

In addition, the same report revealed that its gaming segment garnered the highest revenue share of more than 27% last year. It means the gaming industry is now heavily exploring the potential of the metaverse in enhancing users’ gaming experience.

Here are four examples of how the Metaverse is shaking things up in the gaming industry.

Connecting multiple players simultaneously

One of the powers of the Metaverse is its ability to connect multiple players simultaneously in a single digital environment using advanced technologies, regardless of their location. Because of this, you can interact and communicate with fellow gamers in real-time formats. In fact, game developers have already made events like concerts possible in-game with the help of the Metaverse. For example, a virtual concert by artist Travis Scott was held inside the popular video game Fortnite, with more than 12 million players simultaneously witnessing a digital version of Scott performing his popular songs. You can expect that this will not be the last time the gaming community will see events like this.

Creating new worlds via virtual reality

What makes the Metaverse completely different from the internet is that it can create new or enhance existing worlds for players using virtual reality (VR). With VR, you can have a better and more immersive gaming experience while navigating fictional fantasy worlds or even casino rooms. Early versions of VR online casinos have already allowed players to participate in realistic versions of poker games since some online casinos decided to transform their games into virtual reality worlds. Through this virtual casino room, you can have an immersive casino experience and play traditional card games, such as blackjack and poker, wherever you are. Developments in VR tech are expanding due to its place in the Metaverse space; for instance, our previous article on ‘Shiftall MeganeX’ shared that it’s the world’s first 5.2K HDR VR glasses.

Changing the regulations on online gaming

The Metaverse also impacts the gaming industry by changing how online gaming operates using digital currencies. This is already evident; it is explained in a Bloomberg article that one of the frequently visited destinations in Decentraland is the virtual casino, where players use cryptocurrencies to play. And because cryptocurrencies are decentralized in nature, it’s only natural that online gaming within the Metaverse and beyond could become decentralized along with it. One of the communities that will benefit from this change is the poker community. Currently, the legalization of poker in America is still ongoing in most states. But with the help of digital currencies, you can circumnavigate local laws and play poker online wherever you are in the country. Because cryptocurrencies and the Metaverse are gaining popularity, the legalization of poker in the US may follow suit, changing how online poker works. That’s a perfect example of how the wider gaming community could be impacted.

Creating new opportunities for game developers

Lastly, the Metaverse help creates new opportunities for game developers and publishers. Since the possibilities are limitless with VR, developers can create and experiment with worlds that are even more realistic than those previously created, especially with technologies like Metaverse VR. Jesse Lennox reported that this is what game developers of the popular party game Among Us did to improve the game. They upgraded their previously 2D game into a 3D virtual reality gameplay, offering the same game mechanics but with the twist of VR experience when playing with your friends. The only drawback is that VR equipment is necessary to play, and they are presently only available on platforms like Meta Quest, SteamVR, and PlayStation VR. This shows that the Metaverse can allow the gaming industry to expand and enhance its products.