Metaverse Casinos: Complete Guide to Decentralized Gambling
Just as you could hardly find anyone to coherently explain what the internet or Bitcoin was when these marvels were coming up, the Metaverse is challenging to demystify. But put simply, the Metaverse is a virtual world where people can exist, do business, play games, and socialize. Sci-Fi movies like Ready Player One do a decent job of showing what the Metaverse could look like – with none of the dystopia, of course.
Tech moguls like Mark Zuckerberg are making these seemingly impossible ideas a reality. And the cool part is that online casinos are becoming a massive part of the Metaverse. If all this sounds too complicated to wrap your head around, you’ve come to the right place.
Metaverse Casinos for Beginners
A Metaverse casino is typically a virtual version of a popular land-based gambling establishment. Apart from being located in the Metaverse, these casinos operate like you’d expect, allowing players to interact and gamble on blackjack, poker, slot, and other games. The 3D animation imitates the Las Vegas and Macau atmospheres. Instead of using fiat currency, you can pay with cryptocurrencies like ETH, AXS, and DAI.
You will need to set up an avatar that’ll be able to walk around, join a table, or hit the slots. If you wish to enhance your experience, you can purchase a VR headset and get a first-person view of your avatar’s interactions. You can even use a Metaverse bodysuit to move cards and throw dice using Augmented Reality.
What Do You Need to Play at a Metaverse Casino?
You will not need to open an account with a specific decentralized casino. But let’s go over the few requirements for playing in the Metaverse.
- Cryptocurrency: Since you won’t be able to fund your account using fiat currencies, you will need to buy cryptos.
- Metamask: Metamask is a wallet to store your cryptos.
- Avatar: This will represent your character in the digital world.
- PC & VR Headset: In addition to a fast-performing PC, you will also need a VR headset for a better gambling experience.
Cryptocurrencies in the Metaverse
As all transactions in the Metaverse are linked to the blockchain network, players must pick a cryptocurrency to fund their accounts and receive their winnings. The Metaverse is a new concept, so you may not find all the digital coins you’re accustomed to. Here is a list of the most typical cryptos used in the Metaverse casinos currently up and running.
- DAI – runs on the Ethereum blockchain;
- ETH – Ethereum;
- MANA – specific to Decentraland;
- SAND – Sandbox;
- AXS – Axie Infinity.
Setting Up Your Metaverse Casino Wallet
To get started on Metaverse decentralized casinos, you must set up a wallet. You can then use this wallet to connect to the particular casino of your choice. The wallet will also hold your digital funds. If you are ready to get started, let’s walk you through the process of setting up your Metaverse casino wallet.
- Download the Metamask app and add the extension to your Chrome browser;
- Enter your unique username and create a password that you will use to log in;
- Save your backup phrase, which you should always keep secret;
- You can now purchase NFT tokens and cryptocurrency or borrow from another account.
Available Games at Decentralized Casinos
While the Metaverse is still a new concept, the few launched casinos are bringing forward casino-style games that we’ve all grown to love. Some casinos have even launched multiple gaming floors. In addition, most Metaverse casino games are provably fair, as blockchain network fosters transparency.
You will get classic card games such as blackjack, baccarat, roulette, and poker. Some outlets even offer video poker. Numerous slot machines are also available for quick luck. As more of these 3D casinos launch, we expect to see more games in the mix. The best decentralized casinos also often feature freeplay poker tournaments.
What is a Play-to-Earn Casino?
A Play-to-Earn Casino is an exciting take on virtual gaming. Players can earn rewards in the form of NFTs. The number of tokens you can collect depends on how frequently you play and the type of games you choose. When you’ve collected enough tokens, you can advance your career in the Metaverse gaming world.
Many players redeem their tokens for digital items to swagger up their avatars. You may also wager the earned rewards and continue to earn even more. Another option for you is to trade digital assets and collect hard cash, meaning you can potentially make a little fortune from playing Metaverse casino games.
Casino License and Regulation in the Metaverse
Regulations are essential to maintain order, ethics, and fairness for the customers. Although the games are linked to the blockchain network for transparency, some games in the Metaverse may not follow proper RNG standards. Most components of the Metaverse gaming industry are pretty new, and there are no specific legal guidelines to address all the activities that take place in the virtual world.
However, some licensed land-based and online operators have launched platforms in the Metaverse. You can expect safety and fairness from such casinos. The decentralized casino landscape is also controlled, to an extent, by a system known as DAO (Decentralized Autonomous Organization). You can earn the right to participate in DAO by exchanging NFTs.
- The casino games in the Metaverse are all connected to a blockchain system, ensuring transparency.
- Extremely reduced transactional costs.
- All players in the Metaverse enjoy security and privacy.
- Customers get enhanced rewards with Play-to-Earn.
- The house edge is significantly lower.
- No need to create an account for each specific casino.
- Cryptocurrency is a highly volatile digital asset.
- There are no formal governing bodies to oversee the various Metaverse operators.
- The Metaverse is still new and, therefore, quite complex for those not conversant with cryptos.
- Health issues from the accelerated use of virtual hardware such as VR headsets.
Summing Up Metaverse Casinos
The Metaverse is pushing the world and internet experience to new heights. Metaverse casinos and decentralized gambling are notable innovations, coming with fantastic perks like reduced costs, lower house edge, and privacy. However, there are some drawbacks, including a lack of formal regulations.
Play-to-Earn gaming allows players to have fun and scoop NFT rewards they can wager or trade for cash. Once you create a crypto wallet and avatar, you can connect to the casino of your choice and start playing casino games in the Metaverse.