The Metaverse and the Future of Gaming

The metaverse, or the next-gen internet as most people call it, is set to reshape the way we use the internet and interact with technologies. Though the metaverse has applications for all industries, the gaming industry seems to reap the most benefits from it. 

So, how do the metaverse and gaming go hand-in-hand? Let’s find out. 

                                                                   

What is the Metaverse?

The metaverse combines technologies like virtual reality (VR), augmented reality (AR), and multimedia to enable users to create and interact with online 3-D virtual environments. It’s also known as a “hypothesized iteration of the internet” or simply next-gen internet. Users can create their virtual avatars and enter the virtual world to meet and interact with others. 

Since the metaverse is in an early stage, there’s no clear way to define it. In its simplest form, the metaverse is a combination of technologies and platforms to offer immersive experiences to users. 

The metaverse market size was valued at $46 billion in 2020, and it’s projected to explode to $800 billion by 2024. Facebook has already invested over $10 billion in the metaverse, and they had planned for it before the name change. That’s why they rebranded to Meta, so the metaverse sounds like something associated with Meta (Facebook). Other brands like Microsoft and Nvidia are also 

How Does the Metaverse Operate?

The metaverse works by combining numerous technologies, like augmented reality (AR), virtual reality (VR), social media, blockchain, and online gaming. It enables people to interact with each engage in several activities, like playing games, shopping, attending concerts, buying and selling assets, and more. 

Snippets of the metaverse can be seen in many games, like Roblox, Fortnite, and Minecraft. Video conferencing solutions like Meet and Zoom are also a type of metaverse, as people interact virtually. The metaverse just implements this concept of virtual identity and interaction on a larger scale.

Structure of the Metaverse and the Technologies Involved

On the surface, the metaverse may look extraordinary and alien-like. But when broken down, it’s just a combination of some platforms like Decentraland, Mirandus, and Sandbox that enable people to interact in different ways. 

Here are some key technologies that power the metaverse.

Virtual Reality (VR) and Augmented Reality (AR)

Users can wear VR headsets, sensors, and gloves to enter a computer-generated virtual environment. It creates a digital world with visual content that users can consume and interact with. 

Augmented Reality (AR), on the other hand, uses characters and elements to create a digital replica of the physical world, as seen in games like Pokemon Go. 

AR and VR together build the interactive aspect of the metaverse. They make the metaverse immersive by enabling users to indulge in engaging 3D experiences

Internet of Things (IoT)

The next important element of the metaverse is connectivity. The metaverse aims to bring people together, and it’s not possible without the internet. However, the internet alone isn’t enough to connect the digital and physical worlds. There needs to be a system that connects physical devices, like thermostats, smart speakers, medical devices, etc, and enables them to send and receive data automatically. Internet of Things makes it possible.

Internet of Things (IoT) adds computing abilities to physical objects by embedding them with sensors and software. With IoT, you can bring real-life devices to the metaverse and create real-life simulations.

Blockchain and Cryptocurrency

Metaverse is an extension of the physical universe. And like any universe, the metaverse needs an economy. There needs to be a trade of assets, like virtual real estate, collectibles, artifacts, etc. Cryptocurrencies, non-fungible tokens (NFTs), and other blockchain-based applications enable monetary transactions on the metaverse. For example, users can buy virtual land in Decentraland using cryptocurrencies. In December 2021, the metaverse real estate sales hit $106 million.

Metaverse Gaming: Video Gaming in the Metaverse

The metaverse is in its primitive stage, and thus, it’s an ambiguous concept for brands and investors in most industries, but not gaming. Metaverse adoption is moving at full pace in the gaming industry, with Roblox and Epic Games being at the forefront. 

Fortnite, a game by Epic Games, recently hosted a virtual concert attended by 10 million people. Ariana Grande performed in the concert virtually. Roblox Corporation, the developer and publisher of Roblox, partnered with Gucci to sell limited-edition virtual bags. 

Gaming and the metaverse go hand-in-hand. Many online multiplayer games, like Minecraft, PUBG, Fortnite, and Apex Legends, act as proto-metaverses where players can create their digital avatars and interact with other plates in real-time. They can buy and trade in-game items, like weapon skins, wearables, and other collectibles. 

The use of AR and VR in video games is also on the rise, with Pokemon Go being a popular example. All in all, the metaverse makes gaming more immersive with AR/VR and adds economy to it by allowing players to trade valuable assets. 

In the future, we could see NFT-enabled gaming becoming the norm. The exchange of cryptocurrencies and NFTs in games is already on the rise, and over $7 billion worth of NFTs have been traded so far. As the metaverse continues to develop, the volume of NFTs traded will also explode.

How to Start Development in the Metaverse?

The opportunities for creating metaverse applications are endless. You can build AR/VR-enabled games, marketplaces for trading items, platforms for creating and trading virtual assets like land and clothes, and more. 

The first step in metaverse development is to come up with an idea, and it doesn’t have to be groundbreaking or revolutionary. Anything that offers a unique and engaging experience to users is enough. For example, you can develop a game that allows players to trade their in-game skins and wearables as NFTs.

The next step is to find the right development company that can integrate the elements of immersive gaming with the metaverse. Here’s where Codiste can help. We offer expert blockchain development services.

Summary

Of the many applications of the metaverse, immersive and engaging gaming seems to be the most exciting and also the most relevant. With game publishers like Epic Games and Roblox already investing in the metaverse, the gaming industry is set to make rapid strides in the metaverse. 

If you’re looking for a blockchain development company that helps you achieve your metaverse gaming development objectives, Codiste can help

For more valuable information, you can call us at +91-9429005987 or email us at manager@codiste.com or Discuss Your Requirements Nowh2

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