How Could Metaverse be a Game Changer for the Virtual Gaming Industry?

• By Alex Rock
• 11-10-2022
• Technology

Emerging technology is revolutionizing every sector due to its innumerable benefits. It is undeniable that the gaming industry has seen a drastic shift in recent years. Recognizing its early days, games have improved a lot in terms of interaction, attractive gaming models, extended user experience, in-game purchases, and many more.

The blockchain-enabled metaverse is the most potent part of technology nowadays. The way the metaverse turned the games is just mind-blowing. Gamers can interact with each other, look around the environment with its impeccable AR/VR technology, and play games. The gaming model these metaverse games utilize is “play to earn,” meaning a player can earn while playing the game. Such exciting gameplay has also given rise to metaverse development companies developing web3 virtual games for enthusiasts.

Our curiosity to learn more about metaverse games increases as we move deeper into them. If you are an avid game lover and want to try blockchain-powered games, then this blog is for you.

Let’s first shed some light on Metaverse to give a brief idea about it:

What is Metaverse?
The metaverse is a 3D virtual world with digital twins of the real world. The top-notch technology that persistently works behind the Metaverse is AR/VR, IoT, AI/ML, 3D reconstruction, and blockchain. When users enter the virtual world using some equipment, they feel the mirror image of their real life.

This is a unique phenomenon that connects people worldwide in the virtual space. Individuals can interact, communicate, play games, etc., in the metaverse. In this way, players feel connected with the virtual world.

Metaverse is transforming the virtual gaming industry with its vast potential; let’s know how?

How is the metaverse transforming the gaming industry?

Metaverse is offering a next-level gaming experience to players. With the below-illustrated points, you can get a clear idea:

NFTs
NFT stands for Non-Fungible Tokens. There is a strong connection between the Metaverse and NFTs. NFTs are becoming a crucial part of the metaverse these days. Through NFTs, players can buy any in-game assets in the virtual world and can claim ownership of those digital assets. While playing metaverse games, gamers are rewarded with NFTs, which can be used for more profits; either by selling them or exchanging them on various other platforms. In this way, NFTs are revolutionizing virtual world games.

Better Gaming Experience
The gaming sector work with the sole goal of providing a top-notch gaming experience to users. With this in mind, many entrepreneurs are coming up with unique ideas for games. To complement these unique ideas, the use of cutting-edge technology like the metaverse and associated technology is also required. Metaverse, in its true terms, is redefining the immersive experience for players by providing a one-of-its-kind play-to-earn model. This model attracts a horde of players towards itself as you now do not have to pay to play; instead, you can earn while playing. Moreover, the in-game assets the players own by completing certain levels can be sold or exchanged for higher profits. Thus, metaverse gaming provides a mindblowing gaming experience to its users.

Interoperability
The metaverse holds the huge potential of allowing gamers to move from one gaming world to another using the same attributes and avatars. Here, we are talking about avatars and all the in-game assets that can be used in other gaming spaces. This concept is called interoperability. Therefore, it would not be wrong to say that the metaverse offers interoperability to much extent.

Play to earn
Metaverse is based on the P2E model. This is the most crucial aspect of metaverse gaming as it enables players to earn rewards in the form of NFTs or cryptocurrencies that can be exchanged into fiat currencies. The more the players play the metaverse games, the more they will collect the valuable in-game assets; hence, there are more chances to trade those assets in NFT marketplaces or other digital or real-world currency platforms.

Technology involved in the Metaverse gaming

Any Web3 game development company will use the emerging tech stack to integrate metaverse into the gaming sector successfully. Let’s have a look:

AR/VR
Augmented reality and virtual reality are two leading technologies boosting the development of the Metaverse games. These assist in providing immersive and interactive 3D experiences to users. AR technology utilizes emerging visual components that transform the physical world into a virtual one. It enables users to have immersive experiences on smartphones and other digital devices.

3D reconstruction
It is because of 3D reconstruction that an exact replica of the real world is formed in the name of the virtual world. 3D technology makes it possible to build a natural-looking and realistic digital ecosystem. Accurate models of objects, structures, and actual locations are rendered with the aid of specialized 3D cameras.

IoT
IoT stands for the Internet of Things. IoT in the metaverse is used to collect, acquire, and utilize the data from the physical world for the effective working of the Metaverse. With the help of IoT, all the real-world devices like VR headsets, haptic gloves, voice recognition, speakers, etc., can be connected to the 3D virtual world to change the way they work based on different scenarios.

Bitcoin and blockchain
The metaverse concept is backed by robust decentralized blockchain technology. Bring driven by blockchain; it has numerous advantages like interoperability, digital collectability, value transfer, and proof of ownership in the digital realm. Users can exchange the in-game assets in the 3D world of Metaverse using cryptocurrencies, which function like real-world currencies in the physical world.

Edge computing
Edge computing is defined as a network-based cloud computing and service delivery paradigm that provides users with computation, storage, data, and various application solutions. The Metaverse will require its technical infrastructure to support faster data transmission. The technology known as edge computing caters to the global modern business need for faster data transmission. Users can take advantage of edge computing features through distributed computing without having to set up a substantial hardware infrastructure.

Some popular Metaverse games

Sandbox
The Sandbox is a highly renowned metaverse game developed by eminent metaverse developers. It is built on the Ethereum blockchain, powered by smart contracts and blockchain technology. It has an appealing design that attracts a number of players towards it. In this game, gamers can create, own, and even monetize their assets in a virtual world. Sandbox gives ownership to the creators of NFTs. Players are also rewarded for taking part in the ecosystem. The Sandbox owns almost 7% of the market in the Metaverse. Sandbox is a platform where gaming enthusiasts can build their metaverse games. Also, users can use VoxEdit to create in-game assets.

Axie Infinity
Axie Infinity is another well-known blockchain game in the metaverse, based on Pokemon. The game came out in 2018. Here, each Axie is a unique creature with its own traits. Players need to own atleast 3 axies, fight against other Axies and earn experience points. An essential aspect of this game is that during the COVID-19 pandemic, it saved many unemployed Filipinos' lives. People earned NFTs by playing the game; these NFTs were then traded for cash. Another critical aspect of axie infinity is its market cap of $9 billion, making it a popular game in the metaverse.

Illuvium
Illuvium is the most sought-after metaverse game, built on the Ethereum blockchain. The game's primary goal is to explore the vast virtual world and gather powerful things called "Illuvials." Illuvium came out in the first quarter of 2022, and its market cap is $1 billion. Most discussions about Illuvium show clips from the game. But Metaverse fans say that the best things about Illuvium are its beautiful graphics and immersive gameplay. Illuvium's colorful world is also an exciting part of the game. Illuvium's realistic gameplay could help it get a lot of users.

Conclusion
With all the information mentioned above, it is crystal clear that the metaverse is excitingly transforming the virtual gaming industry. As metaverse is AR/VR driven technology, the players can have a lifelike experience just like the physical world. Though it is at its nascent stages, players' love for metaverse games is booming.

The unique P2E model behind these games is securing its place with billions of engaging users. Gamers can do many interactive activities in metaverse games, like collaborating with one another to intensify the joy, inviting social media friends, etc.

Contact any metaverse development company to build one such gaming platform for your users!