The metaverse has been the talk of the town for quite some time now. The promise of a virtual world like never before is certainly an alluring aspect of the modern lifestyle. It’s believed that metaverse will touch practically every industry, including online gambling.
The online gambling features we’re familiar with right now are all in the Web 2.0 space. When it finally migrates to Web 3.0, metaverse will surely play a major role in the transition. In this post, let’s go over how the metaverse can affect online gambling industry in a good way.
What Is a Metaverse?
You need to understand metaverse as a whole to grasp the concept of metaverse casinos. A metaverse is an immersive digital world created with a combination of technologies like virtual reality (VR), augmented reality (AR), blockchain, NFTs, etc. It’s “immersive” because a user can do pretty much everything they can think of doing in the real world.
For example, artists can hold virtual concerts in the metaverse where you can virtually attend them. Of course, you’ll need to pay for the tickets as usual, but you no longer have to endure the chaos of a concert floor. Similarly, you can attend social parties, hangout with your friends, go for a walk in nature, and so on.
It’s “a” metaverse, not “the” metaverse. There can be many metaverses designed by different companies. For example, Meta Platforms (formerly Facebook) has its rendition of a metaverse. Microsoft has its own rendition as well.
The beauty of Web 3.0 applications lies in interoperability. When implemented, all of these metaverses will be able to communicate with each other. It’s like using the same app between Android and iOS devices without any emulators.
How Can You Gamble Online in Metaverse?
The concept of metaverse gambling at trusted Australian online casinos is not widely adopted just yet. We can mostly expect virtual reality casinos in the metaverse. You’ll need to invest in a good quality VR headset to enter the virtual space. And instead of sitting in front of a screen, you can walk around a virtual casino, just like a land-based casino.
VR technology is by far the simplest and most effective bridge to the metaverse for users. Essentially, you access virtual casinos and play the games from your point of view (POV). In theory, it should be very similar to playing games at a land-based casino.
Games in the Metaverse Gambling
The most amazing thing about online casinos in a metaverse is that you can expect more or less the same games as traditional gambling. The majority of attention will perhaps go to pokies where you can actually pull a lever or press a button in your VR headset instead of pressing a button with your mouse.
But we believe the table games will flourish like never before. The sentiment of playing a hand of blackjack in a brick-and-mortar casino and playing at online casinos is never the same. Live dealer games surely come close as you get to interact with a real casino croupier.
Nevertheless, when you can walk to a table and interact with a croupier directly, the immersion will be on a different level.
We may even get new types of games, something that was not possible to achieve in regular online gambling. The use of blockchain can result in new inventions no one has thought of before.
NFTs in Metaverse Casinos
NFTs have been and will be a huge part of migration to metaverse. An NFT (non-fungible token) is an asset class that proves ownership of an object or idea using distributed ledger blockchain.
For example, you’ll need an avatar to distinguish yourself in the metaverse. That avatar will be an NFT that only you own. An immutable transaction on the blockchain proves it. So, you won’t come across any other avatar that looks like yours.
Similarly, the appearance of online casinos, the layout of the tables, the visuals of the pokies, etc., will all be NFTs. The reason is that one casino would not want a competitor to steal their designs and games.
Payments Will Be Safer
Payments have long been an area of concern for casino customers. Even many online casinos don’t offer reliable payment methods. Moreover, you can’t use a payment method designed for one country in another.
However, when you enter the virtual reality world of metaverse gambling, payments will no longer be a concern. Metaverse casinos will largely process payments in cryptocurrencies along with fiat currencies. You should be able to use popular coins like BTC, ETH, XRP, and whatnot. Cryptocurrencies are decentralised, cross-border, and, most importantly, efficient.
So, every time you deposit or withdraw from online gambling companies, the payments will go through immediately. The associated fees for deposits and withdrawals are very low compared to traditional gambling.