Metaverse – Changing the Future of Virtual Gaming

metaverse NFT marketplace development company

July 26, 2022

Reading time about 6 minutes

Have you ever seen something look more real than the real world? Probably too unrealistic? We’re talking about Metaverse, the new word buzzing around but are we all aware of the basics and its potential contribution to the digital world?
Maybe too far-sighted at this point of time! Before we delve deeper into discussing how exactly the transforming technology holds the power to edify virtual gaming, let’s traverse the metaverse!

Table of Contents

  • Understanding Metaverse
  • Scouting Metaverse Classifications
  • Gaming & Metaverse; what’s in store?
  • Metaverse Use Cases in the Real-World Scenarios
  • Final Thoughts

Understanding Metaverse

Metaverse in a layman’s language is a network of 3D virtual platforms or worlds that are entirely based on the technology of virtual reality.
As an emerging face of technology, metaverse targets and focuses on social interaction which can be referred to as an internet-based virtual world that utilizes the potential of augmented reality, being not a digital space but multiple digital spaces and experiences connected together to bring in something ultimately realistic.
According to Bloomberg, the metaverse market was worth $478.7 billion in 2020 and is expected to be worth $800 billion by 2024. Maybe it’s the right time for your business to enter the metaverse.

Read More: How to Implement Blockchain into your Business?

Scouting Metaverse Classifications

Even metaverse comes with its types, here are the two classifications to have a better understanding-

  • Centralized Metaverse

Centralized metaverse is basically dedicated to encouraging in-depth user engagements. It makes use of internet services that are collectively controlled by one single authority.
Here the personal data isn’t shielded in privacy, rather it is revealed and stays under the control of the authority governing the same.
Here the control of the metaverse platform stays handy with a single authorized entity specifying its operations.

  • Decentralized Metaverse

A decentralized metaverse is an open ecosystem, independent of any central or single authority governing or taking control.
In terms of decentralized metaverse blockchain technology has been playing a prime role in the evolution, helping by regulating the aspects of interoperability, digital collectability of assets in the form of NFTs, governance, transferring value through cryptocurrency, and quite a lot of stuff to consider.
Decentralized metaverse can help the users to transcend into the digital world through various AR devices for developing an excellent experience throughout.

Gaming & Metaverse; what’s in store?

According to a survey of 5,521 metaverse gamers, the largest group of users of the top three games are under the age of 20. As popular as it may seem, consider gaming as one of the leading sectors that makes use of Metaverse to offer an extensive next-gen gaming experience.
Metaverse holds the power of engaging users in a specific way that has never been done earlier in an edge-to-edge competitive gaming universe. The basic idea behind the concept of the metaverse is to power engagement which is of course and provide the users with a 3D environment, never experienced before!
But, what’s the catch with the 3D environment? It simply makes the experience among the users along with the inbuilt gaming elements look more personal and customized all at the same time.

What’s more? Let’ go detail the characteristics of the aspect of gaming in metaverse-

  • Social Gaming

Socializing is an aspect loved and adapted by not just the millennials and Gen-x but certainly the first choice of almost every generation. Metaverse is inherently social and it can undoubtedly beat the traditional options, stretching the horizons of multiplayer functionality in gaming.
It can further help in setting up new dimensions to allow to invite friends to the real world, nurture relationships over games, and make gaming a social aspect just like connecting over social media.

  • Using Games as Platforms

This seems quite an interesting factor as it can level up the gaming experience for the users with the most flexibility, enormous creativity, and something never seen before!
Users here can conveniently connect with the virtual world, develop sub-games within a live game, add to their content and consider the gaming environment just like an open opportunity platform to perform various activities.

  • Portable Game Assets

As the name suggests, metaverse offers the functionality of interoperability architecture which can permit asset portability. This can encourage the users to enhance avatars and weapons in any set of gaming coming under the platform to be ported in a different environment.

Read More: Rise in Adoption of Blockchain Technology in Banking Sector- Explained

Metaverse Use Cases in the Real-World Scenarios

Metaverse has implementations and here’s what you need to know as a business-

  • Metaverse in Blockchain

As discussed earlier about a decentralized metaverse that is based on blockchain technology is an extremely imperative evolving technology for the futuristic ride. It can conveniently power cryptos including Ether, Bitcoin, etc., and can also function as a distributed ledger that helps in creating NFTs and dApps.
The use of a decentralized metaverse here is that the businesses can implement a better interesting and more realistic NFT Marketplace for regulating NFT trade. Its interoperability can help the blockchain-based games and players to own the collected in-game assets and also cross-trade them across multiple platforms.
For better understanding consult an enterprise blockchain consulting company California USA or a blockchain app development consulting services company.

  • Expanding social media

This may not sound logical at once but meta platforms do understand that technology can do a way better than just the social aspect of building connections through people.
Metaverse is certainly not limited to a 3D dimension of having video chats with people on a computer screen, smartphones, or listening to their voices clear and better, it rather extends to provide an out-of-the-box experience for the users through virtual reality in combination & blend with augmented reality.
It offers a realistic experience in comparison to the current social media offerings. Giving the users the power to be their own content creators and shower their creativity with all the required flexibility through technology.

Final Thoughts

Potential to uplift, revolutionize and completely transform the aspects of virtual gaming, the metaverse is here to steal the show and give you a futuristic ride to the digital algorithms.
There’s so much open when you’re exploring your gaming platforms with metaverse, giving users the feasibility to get started with 3D gaming, mining and trading with gaming NFTs, exclusive gaming options on social media, and introducing the human touch with virtual reality and remotely connecting people around the universe! That’s too much, to sum up.
Realize the power of metaverse in gaming and get started with the right metaverse NFT marketplace development company.