What is GamblingVerse All About?
First came land-based casinos, and online casinos took over shortly after. Just as gaming fanatics are embracing online gaming, a third dimension is in the works— Metaverse gambling! The concept takes online gambling to another level as players are virtually teleported to simulated casino environments for a more immersive gambling experience.
Are you still trying to wrap your head around the technological feat? GamblingVerse gives you the low-down on all things related to gambling in the Metaverse. We talk Metaverse casinos, new Metaverse games, Metaverse websites, Metaverse news, hardware, crypto, and beyond.
Think of us as your ultimate resource guide to get you on par with the Metaverse casino experience.
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To the layman, the Metaverse is a new and foreign concept. However, this otherworld has been around for decades, albeit vastly unexplored. The Metaverse has now started gaining traction leaving many tech buffs scurrying back to the drawing board. You’d remember how Mark Zuckerberg threw the world into a frenzy after announcing the rebranding of Facebook to Meta.
But what does it entail? The Metaverse is a virtual universe that ultimately serves as an extension of your physical reality. It’s a three-dimensional world that can host numerous social platforms, games, and financial markets. People can enter the virtual world to socialize, play games, or buy and sell virtual land.
Within the Metaverse, various tech giants have already created several worlds. Since the concept is still to be adopted by the mainstream, big tech firms are funding research to aid in developing the Metaverse.
Currently, a handful of Metaverse worlds are under construction, with a few already up and running. These include Decentraland, Atari, Disney, and Sandbox. Metaverse worlds are built on blockchain technology, the same technology behind Bitcoin. Because Metaverse worlds ride on the same wavelength, one would need cryptocurrencies like Ethereum and Bitcoin to transact.
Gambling in the Metaverse
The Metaverse is set to become the home of various activities that exist in the physical realm, and gambling is also a part of that list. Decentralized gambling is synonymous with wagering in the Metaverse. Since gambling exchanges in the Metaverse use blockchain technology, users can expect unmatched anonymity and security. Your identity and consequent transactions are masked, making hacking pretty much impossible.
Better still, your gambling transactions aren’t recorded, and games can’t be rigged in the operator’s favor.
A decentralized casino eliminates the need for a third party or middleman. This incidentally pushes down the house edge and any third-party costs associated with gambling. Players can gamble at a fraction of the cost for a more rewarding wagering experience.
Casinos in the Metaverse
Several casinos already exist in this new realm, with some Metaverse worlds thriving. You can now join Metaverse casinos and learn how to play Metaverse games at gambling venues that mimic real-life casinos. However, you first need to create an avatar to enter Metaverse casinos.
You can virtually walk into a casino, sit down, and play. In all fairness, Metaverse casinos are changing the game by allowing players to enjoy a larger-than-life gaming experience. However, as the casinos are still finding their footing, most aren’t offering welcome bonuses. On the other hand, players don’t need to sign up to start playing games at most gaming venues.
Metaverse and Play to Earn
Casinos will extensively explore the concept of “play-to-earn” in the Metaverse. Play-to-earn games are also built on blockchain technology. The games harness crypto to reward players with something of significant value in the real and virtual world. Such rewards are usually in the form of Non-Fungible Tokens (NFTs). The more you gamble, the more assets you stand to get. Players can then choose to transfer these assets to the real world at any time and sell them for cryptocurrency.
Gambling and NFTs
Non-fungible tokens or NFTs are financial securities comprising digital data stored using blockchain technology. They are non-physical entities that can exist in a virtual space – like the Metaverse – and be used for various purposes. It’s no wonder NFTs are set to be popular within Metaverse gambling and why the concept of Metaverse casino NFTs is on the rise.
NFTs can be used in gambling as wagering tokens and given as rewards. Players can buy and sell NFTs and make a profit where possible. NFTs have revolutionized gambling in the Metaverse by allowing players to purchase avatars, virtual land plots, and event passes. However, Metaverse NFTs can only be used in the specific world they were designed for.
Crypto in the Metaverse
The Metaverse has no place for traditional or fiat currency like credit cards or PayPal. That means your transactions won’t be linked to your bank account or tracked by the bank. Instead, cryptocurrency is the only acceptable medium, with anonymous transactions recorded in a blockchain ledger.
Cryptocurrency in the Metaverse will have the same utility traditional currency has in the real world, with Ethereum being the best Metaverse crypto. The reason why it’s the top Metaverse crypto to buy is because it’s one of the fundamental building blocks of NFTs. Be that as it may, you’re free to use other cryptocurrencies like Bitcoin.
Gambling in the Metaverse is a different ball game, where players can access a different gaming dimension. Where players would need a phone or computer to log onto an online casino, a virtual headset is a prerequisite to enter the Metaverse gambling space.
You’d need a combination of Augmented Reality, Mixed Reality, and Virtual Reality hardware to access the Metaverse. But of the three, Virtual Reality headsets provide the lowest barrier to entry into Metaverse casinos. Unlike standard hardware, VR gives players a more immersive and engaging gaming experience.
Besides securing the best VR headset for Metaverse, you’d also need accessories like a treadmill and bodysuit. A Metaverse bodysuit will help get players to move objects with their hands, while a treadmill helps you virtually walk through the Metaverse.
Let’s Dive into the GamblingVerse
Gambling has come a long way, and it can only get better. Metaverse casinos are the future. The sooner you embrace it, the better your wagering experience will become. The Metaverse is opening a world of augmented reality that mirrors all the makings of a brick-and-mortar casino. All you have to do is join a Metaverse casino, pick the best Metaverse game, and watch your gaming experience shift to the next level. And GamblingVerse will be there with you every step of the way.
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