Almost everyone has heard of the concept of The Metaverse. First introduced in Neal Stephenson’s 1992 novel, Snow Crash, the Metaverse may be fictional no longer. What was once firmly in the realm of dystopia is now just a hair’s breadth away from the now. Virtual reality games were already a marvel when they were introduced. But now, we have progressed beyond that into the unchartered territory of Metaverse gaming.
NFT gaming platforms are already considered the predecessors to the Metaverse. Their play-to-earn model and social features make them integral to the future of the Metaverse. Conversely, the Metaverse, too, may take gaming to unprecedented heights. With the advent of the Metaverse, players may be able to completely immerse themselves in a virtual world that mirrors the real one.
But how exactly does the Metaverse revolutionize gaming? Read on to find out.
What is the Metaverse?
First things first, let’s pause and get an idea of what the Metaverse is. The Metaverse is, quite simply put, a 3D network that will combine virtual, augmented, and mixed reality. Users can enter the world in the form of digital avatars and carry out activities like socializing, shopping, gaming, and much more. Although the Metaverse isn’t in existence yet, several companies are working towards creating their own version of it. However, as it is still in its infancy, an all-encompassing description of what the Metaverse will be is still ambiguous,
With tech titans like Meta (previously Facebook) and Microsoft leading the way to the Metaverse, the market is set to grow in leaps and bounds. In fact, the Metaverse market is expected to grow from $ 100.27 billion in 2022 to $ 1,527.55 billion by 2029, with a growth rate of 47.6%. As of now, several video games are on the way to developing their own versions of the Metaverse, be it in the form of real estate or sports.
The Evolution of Gaming
The advent of Web 3 gaming was preceded by a series of stages that marked the evolution of gaming. Gaming in Web 1, for instance, was completely single-player with no scope for interaction. This was the most rudimentary form of online gaming. Then came Web2 gaming which allowed for multiplayer games to exist. Players could also buy in-game assets to power up the game. However, this came with its own drawbacks. Assets that players bought, for instance, vanished on the occasion of an upgrade or if a game developer decided to pull the plug. This is where Web 3 gaming became revolutionary. Web 3 gaming, predominantly built on blockchain technology, utilizes NFTs that enable complete ownership. The in-game assets that are bought will continue to hold value outside the game and let players make a little passive income. P2E gaming is the buzzword in the industry, and it is all set to be the cornerstone of the Metaverse.
While virtual games already exist, they will be taken to an all-new level with the help of the Metaverse. The immersive experience promised by the virtual world may be a game-changer for the gaming industry. Socialization, too, will receive a major boost from the Metaverse. With the interaction of the virtual and the real, players will also be able to convert in-game tokens into fiat currency. Perhaps most appealing to hardcore gamers is the fact that the Metaverse would allow for enhanced storytelling. The game and characters are yours to customize. Talk about a bonanza!
The Game Changer of Gaming
With all this in mind, let us delve further into how exactly the Metaverse can revolutionize gaming. As we have already established, the interaction of the Metaverse and gaming has given rise to play-to-earn NFT gaming platforms that allow players to earn a passive income. In fact, many speculate that this form of gaming could potentially be a career option in the future. Here are a few ways in which the Metaverse is poised to change the face of the gaming industry.
Immersive Gameplay:
The major appeal of the Metaverse is that it provides a completely virtual world that exists parallel to the real one. It is possible that one can simply Metaverse by donning a pair of goggles or other such devices. This inevitably leads to complete immersion in the game, allowing them to create their own stories and characters.
Mixed Reality:
Related to the previous point, the Metaverse will offer a seamless transition from augmented reality to mixed reality. That is, one can go from overlaying virtual objects in the real world (think Pokemon Go) to completely entering a virtual world with the utmost ease.
Social Connection:
Given the expanse of the Metaverse, it makes sense that it will make the internet more close-knit than ever. This has profound implications for gaming in particular. Players can interact with each, transcending geographical boundaries. They could also work together to complete quests and missions, dividing the rewards amongst themselves later on. Already NFT gaming platforms boast active communities on Discord. With the Metaverse in the picture, social connections could go bigger than ever.
Play-to-earn Gaming:
One of the most popular instances of gaming setting the stage for the Metaverse, P2E gaming is a building block for the future of Web 3. In turn, the Metaverse could also be a huge boon for P2E gaming. The Metaverse may facilitate easy and secure transactions, making the trade of NFTs easier. It may also be simpler to find potential buyers with advanced social connectivity.
Interoperability:
This is one aspect of the Metaverse that is under heavy speculation. Interoperability means that digital assets from one platform could be moved to another. This could mean that in-game NFTs could potentially become portable. However, interoperability of platforms requires a single ecosystem which may not be possible given that different platforms have different approaches to the Metaverse. Despite this, it is an interesting feature that we will have to wait for to see how it unfolds.
Closing Thoughts
With all the advancements in the Web 3 space, the Metaverse is closer than ever. It may be an eventuality instead of simply a possibility. NFT gaming platforms and social media giants alike are already racing to put themselves on the Metaverse map. Given such a monumental technological advancement, it stands to reason that it will impact the internet like never before.
The gaming industry, which has always been at the forefront of technological excellence, will especially be revolutionized by the entry of the Metaverse. One of the best things it brings to the table is accessibility and inclusivity. Of course, it is obvious that geographical constraints will hardly be an impediment. But apart from that, people from all walks of life will be able to participate in the Metaverse. With gaming avatars being easily customizable, people have the chance to be anything they want to be. Disabilities that restrict mobility in the real world may not even play a part in the virtual world.
Several big names, from Gucci to Disney, are already exploring what the Metaverse offers. While the biggest boost will probably be to gaming, the Metaverse will have a long-lasting impact on numerous industries. With all the resources being invested into the Metaverse, it may simply be a matter of time before the Metaverse arrives. And my, will it make an entrance!
