The Metaverse gained popularity late last year after Facebook’s founder and CEO announced its venture into it late last year. With the popularity it gained, many tech companies and the best online casinos have begun to explore the opportunities this virtual space holds.
The technology behind Metaverse is enormous and might have the same effects the internet had on brick-and-mortar based businesses. It allows the creation of an entire world around the eyes and ears with compelling augmented reality and virtual reality technology,
This virtual space is an out-of-the-world experience where you can have your avatar with digital assets and currencies to live your everyday life, and It’s a huge change that’s slowly creeping its way into today’s reality. We can only imagine the future of today’s form of gambling, especially online casinos.
Online Casinos In The Metaverse: What To Expect?
As of now, there are casinos you’ll find in the most popular Metaverse – Decentraland. The Sand Vegas Club is an online casino that lets punters and investors purchase its Non Fungible Tokens (NFTs). The purchase gives whoever buys the NFTs a stake in the casino to gain a profit share,
You’ll also find a Bloktopia, a 21-level virtual skyscraper that allows a user to play poker and a wide range of casino games. Finally, the Tominoya Casino is a Japanese-themed casino in Decentraland with two floors and three wings attached to each floor.
With these online casinos already sprouting in the Metaverse, you can rest assured there are more to follow as the Metaverse continues to grow.
The advent of more casinos in the Metaverse will provide a level of experience as in brick-and-mortar casinos decades ago. Online gambling has its perks, as you can play from the convenience of your room or on the walk, but one thing these online casinos lack is the real-time interaction you can get from brick-and-mortar casinos.
With the Metaverse, you can still access casino games from the comfort of your room, but better because you get to feel the physical energy of a real casino. You can interact and communicate with people in the Metaverse, buy drinks and food, and be part of the chatter and dance party you have at brick-and-mortar casinos. The possibilities are with the recreation of a real-world casino experience.
Gambling Games In The Metaverse
You can have all the gambling games in the Metaverse. The wholesomeness makes it even more exciting as you can be lying on your bed but walking through a casino in the Metaverse. The tricks of hidden cards, body language, cards counting, tensed expressions, and feelings of glee can all be replicated in the Metaverse.
With these, you can have all the gambling games in the Metaverse. There are already casinos with poker games and casino slots in the Metaverse, and with time, there’ll be roulette, blackjack, baccarat, and other forms of live dealer games.
Currently, in the Metaverse, the Tominoya casino has live dealer games. However, unlike the current online casinos, where we have computer-generated dealers, the Tominoya casino hires real people to act as dealers.
Tominoya also hires casino hosts to stroll the casino venues’ floors to see what players need help with their gambling activities. Reports say these hosts get paid as much as $500 per month for their services. With these many opportunities stemming from the metaverse, having a casino game won’t be a surprise.
Soon enough, sports betting games will come to the Metaverse. Atari’s Decentraland casino has an array of themed games after arcade machines. They are diverse and more significant in the metaverse.
Hence the future of gambling games in the Metaverse is viable, and there are no limits to the potentials punters, and casino operators can tap into the Metaverse in full force.
Gambling Transactions In The Metaverse
The Metaverse replicates the natural world but with better structure, and opportunities and transactions are essential. For example, the adventures you seek in visiting a casino in the Metaverse can only be done when there’s some form of transaction. You have to place bets, buy drinks for your avatar, and partake in other activities.
In the Metaverse, you can buy lands, buy NFTs, and a host of other things using crypto exchanges. As decentralised as crypto is, we can only assume that payments on the Metaverse are more secure and much safer than in current online casinos.
In past years, the Ethereum blockchain was the prominent blockchain in making transactions in the Metaverse. Different Metaverses like Decentraland, Sandbox, Sonium Space, and the Axie infinity use the Ethereum ERC-20 token as their economy’s basis.
In the Decentraland Metaverse, MANA is the native fungible token, while Shards (AXS) are the tokens in the Axie Infinities. Consequently, the Dcentraland’s Atari casino takes Mana tokens as payment for gaming activities, alongside the Decentraland Games’ native token $DG, Atari’s crypto tokens, and the coin whose value is compared to the United States dollar – the DAI stable-coin.
Many of these tokens have their values fluctuating, and they are pretty common at crypto exchanges for conversion. Unfortunately, you will not find standard cryptocurrencies in the Metaverse, which increases the volatility of the coins and tokens.
In reports, some tech companies are working on creating their blockchains and, if successful, will create more chances of payment in the Metaverse.
Gambling Regulatory Bodies In The Metaverse?
Currently, in the Metaverse with online casinos, no regulatory bodies regulate these casinos’ activities. However, if the Metaverse continues to grow, there might be the need for one or multiple decentralised organizations to control the activities.
The prospect of online casinos on the Metaverse is likely to gain enough traction if it evolves more than it is now. The Metaverse will be the change of online casinos as we know it, with endless possibilities and opportunities to explore.