Metaverse is a rapidly growing technology and has been the talk of the town in the modern gaming industry. The global metaverse in the gaming market is estimated to reach USD 710.21 billion by 2027. This speaks volumes about the role of the metaverse in the gaming industry.
Metaverse gaming creates an immense visual experience by complementing emerging technologies such as 3D visualization, IoT, and blockchain. With metaverse gaming, players can have a close-to-reality experience and can even experience a physical sense of touch using haptic jackets and gloves.
In this article, we will discuss the impact of the metaverse on the gaming industry and how it is revolutionizing the gaming industry with powerful technologies.
The Evolution Of Metaverse In the Gaming Industry
Before the advent of blockchain-based games, players were big fans of multiplayer games. However, blockchain has completely changed the face of online games. Its use of cryptocurrencies and NFTs amazes players to earn money in the form of cryptocurrency or sell their achievements as NFTs.
The recent advancement and innovation in the gaming industry have brought along the metaverse game development Dubai. Players are experiencing next-generation gaming by having a virtual world experience in the best possible way.
- Players have a visual representation of real identities called virtual avatars. These characters live in the virtual world like people in the real world.
- These games include a play-to-earn concept that enables players to earn rewards in the form of cryptocurrency, and they can even sell them to earn real-world money.
- As metaverse uses AR/VR technology to create an immersive experience, players feel a lifelike experience, exactly how they feel in the real world.
- Metaverse games are interoperable. It means that the players can move their gaming items from one place to another without making any major changes in the game.
- Players can invite their friends, collaborate and interact with other players in the metaverse world to enjoy the games together.
Key Features Of Metaverse Gaming
Metaverse game development involves creating an interactive, immersive virtual world where players can explore, socialize and play online games in a persistent, seamless environment. Let’s look at key features of metaverse gaming.
Play to Earn
It is one of the most prominent features of the metaverse gaming experience. Players have the opportunity to earn revenue while enjoying playing online games. Players can sell their valuables to other players in exchange for cryptocurrency.
Digital Gaming Assets
Metaverse games incorporate multiple digital assets, such as cryptocurrency and NFTs. Weapons, vehicles, and game characters can be tokenized as digital assets in metaverse gaming platforms. These assets can be bought, sold, and traded with other players. In this way, players can earn real-world value from their digital assets.
Socialize Virtually
The metaverse games offer an immersive socialistic experience to players by letting them virtually interact with other players. Players can connect with each other anytime and from anywhere around the world in the metaverse world.
Games As A Platform
This is another prominent feature of metaverse gaming. After becoming a part of the digital world in metaverse gaming, players can create their own content. They have the option to create game sub-modules.
What Technologies Empower Metaverse Game Development?
The latest development of games with metaverse technology has compelled many gaming organizations to switch to metaverse gaming.
Metaverse development company in Dubai leverages new-age technologies such as AI and blockchain to make the games more immersive. Let’s have a look at some of these technologies required to build metaverse games:
Blockchain
Blockchain technology is an essential part of metaverse game development. It ensures digital proof of ownership, interoperability, digital collectability, and transfer of value.
AR/VR
Augmented Reality (AR) and Virtual Reality (VR) create an exciting and immersive 3D experience, the most prominent technologies powering metaverse gaming. Such technologies mutate the real world and create a virtual world using virtual avatars and elements.
Internet Of Things(IoT)
IoT technology is used to collect, obtain and utilize data from the physical world in order to connect the virtual world of the metaverse to real-world devices. In this way, the metaverse objects can switch how they function depending on changing atmosphere or weather.
Key Players In The Metaverse Gaming Industry
Many companies have leveraged metaverse technology to build immersive and interactive games. These companies are at the forefront of this future trend and gained so much popularity among players. Let’s have a look at some of the key players in the metaverse gaming industry:
Sandbox
Introduced by Pixowl in 2011, the sandbox was built on the Ethereum blockchain network. It’s a metaverse platform with multiple decentralized lands where users can buy, develop or sell real estate to earn digital assets. Players can create their own products and sell them to earn tokens.
Decentraland
Decentraland is a metaverse gaming platform where players can run a virtual world within the game. Players can buy or sell digital real estate, play games, or earn cryptocurrency through multiple activities such as organizing events, renting the plots they own, or selling tickets.
Axie Infinity
Axie Infinity is one of the popular NFT games powered by blockchain technology. The game debuted in 2018, where players can collect, trade, raise or breed Axies.
Farmers World
Introduced in 2021, Farmers World is a popular metaverse game providing an exceptional farming experience. Players can buy land to grow crops, catch fish, mine gold, or build homes. The NFTs in this game are eggs, milk, or everything on the virtual property that players can trade or sell with other players.
Conclusion
Metaverse gaming is a rapidly growing industry that holds great potential for the future of the gaming industry. With the increasing demand for interactive and immersive gaming experiences by players, the potential for developing innovative metaverse games is enormous.
The development of metaverse games requires a combination of creativity, imagination, technical expertise, and the experts that can harness these qualities to develop an interactive and innovative gaming platform.
As metaverse technology continues to evolve, it will be fascinating to see the advancements and innovations that will shape the future of the gaming industry.