Back when the world had to close doors to physical socializing, we were forced to turn to virtual spaces to maintain our touch. The Metaverse was the talk of the town starting from then on. The first ever mention of the Metaverse was in 1992 in Neal Stephenson’s science fiction novel Snow Crash. It was just a concept at the time. Nonetheless, it is quite astonishing how technology shifts and develops.
The entry of the gaming Metaverse created quite a frenzy among gaming enthusiasts and even nascent players. In integration with VR toolkits, the Metaverse was a great advancement in the gaming industry. Recent studies prove that over 52% of US gamers believe that metaverse is a revolution in the gaming industry. That said, industry reports predict that by the end of 2029, the global metaverse market will reach $1,527.55 billion, following a CAGR of 47.6%.
This growth can be attributed to the number of players frequenting games based on VR and AR technologies. These were backed up with powerful devices like VR headsets, full display screens, and rooms with sensory features of scents and tactile sensations that successfully gave gamers an immersive experience. The traditional pattern of gaming underwent major progress with the addition of the Metaverse. But how are Metaverse gaming and traditional gaming different? This article will state just that.
Gaming Before And After Metaverse
Classic gaming was a source of entertainment for many players and determined gamers. However, players were tied to spending money, as certain games, even though free at the starting level, required you to pay for an upgrade or to access any in-game assets, like weapons, skins, etc. However, unlike the early batch, gaming was relatively easy. Video gaming was fun as we could interact with other players and gain some popularity among the gaming community.
However, this still needed to attract the attention of nascent players. The job was done when Web 3 gaming was introduced. With that, Blockchain and the Metaverse stepped into the frame, and gaming was like never before. As the gaming paradigm shifts spaces, people are noticing the real-time experiences of VR and AR in the Metaverse. And that has been growing faster than foreseen.
Key Features The Metaverse Gaming Brings In
As mentioned above, the introduction of Web 3 was key for all the latest advancements. Blockchain and the Metaverse are just the beginning. However, what are those technologies that are majorly in the spotlight?
- Social Gaming
Unlike first-generation gaming, virtual metaverse gaming gave a platform for players to interact and build communities. The multiplayer option brings a new level into gaming as the frequent players can invite their friends and battle in the metaverse gaming.
- NFT Play-to-Earn
So, one of the highlighted features of Web 3 and metaverse gaming is the NFT-based Play-to-earn model. Recently a graph shows that most game companies are adopting cryptos and NFTs into their gaming strategy. Thus, attracting a massive crowd. And why not? Who will not like a space where they can play and earn? Players can play like usual with a twist of earning cryptos or NFTs on the go.
- Flexible Gaming Space
Metaverse gaming platform makes it easier for players to build their own space inside the Metaverse. Build platforms, create games, hold concerts or shows, and invite friends, all occurring parallel with real-time. This gives users a more immersive experience, unlike classic gaming.
- Interoperability Of Assets
The concept of Interoperability of assets was a far-fetched dream if you’d heard about it 5 years back. However, it is not like that anymore. Several gaming companies are greetings robust APIs to support the portability of assets from one gaming platform to another. The gaming collectibles, like weapons and avatars of one game, can be taken to another, and NFT rules will manage the ownership.
- MR Experience
Mixed reality is defined as a blend of real-world environments with computer-generated ones. Metaverse gaming platform uses VR and AR/MR technologies to bring gamers close to a free-built environment that cohabitates with the real world. Players can move from a VR-based chatting room to an MR-based board game to a completely Metaverse gaming.
This being said, what is the impact metaverse gaming platform brought into the gaming industry?
Impact Of The Metaverse On The Gaming Industry
Based on the primary research done by EY, almost 97% of executives believe that the gaming industry is the core building block of the Metaverse. It also states that the Metaverse involvement will bring a massive paradigm shift in the gaming business, allowing companies to maintain a proper relationship with their clients.
So, how does the participation of the metaverse bring a difference in gaming? With companies investing in this, players have been greatly satisfied with the experiences added to the list. Users can study, connect, work, earn money, and even attend meetings and concerts virtually with NFTs and live game streaming.
What Are The Technologies Involved?
Metaverse ecosystem is gaining popularity for bringing real-life experiences into a virtual space. This was possible with the support of many outgoing technologies.
- AR and VR
Gadgets are not new in virtual gaming. However, the advent of Metaverse gave meaning to such gadgets. Players can have a much more immersive experience in the virtual world with gadgets like haptic gloves and jackets, VR headsets, and rooms with tactile sensations.
- 3D Visuals
We all know that this ecosystem is a 3D-built virtual world. And this was one of the reasons that this gaming platform attracted many fresh players. The visuals it gave were out of the world, and the best part? Players can create their own space.
NFT-based P2E games surely took a lot of time to be favored among religious gamers. However, it did gain a lot of popularity in the first-time players’ community. NFT P2E games give meaning to spending a lot of time and money on virtual games.
Future Of Metaverse Gaming Platform
The Metaverse is still in its infancy, and several use cases are yet to be unveiled. Nonetheless, with all the hype going on about this, it is sure that the gaming industry will drastically shift from how it used to function to how it will be exhibited in the future. The paradigm of Metaverse gaming platforms is undeniably intriguing.