How Could Metaverse be a Game Changer for the Virtual Gaming Industry?

The debut of the gaming metaverse powered by VR technology is creating massive hype in the gaming industry and has become the talk of the town among gamers. According to recent studies, more than 52% of gamers in the US believe that the Metaverse can revolutionize the gaming industry.

As per the latest industry reports, the global metaverse market is expected to reach $1,527.55 billion by 2029 from $100.27 billion in 2022, at a CAGR of 47.6%. This growth contributes to a surge in the adoption of online video gaming based on AR/VR trends and technologies.

Virtual Gaming Before and After Metaverse

Initially, first-generation games were less interactive and allowed less control from the payer. Further, the second-generation games allowed playing virtual games with and without financial commitment leading to better engagement.

Post this, the virtual gaming world was majorly based on blockchain-powered games involved with significant multiplayer games. However, blockchain later changed the gaming paradigm by using NFTs and cryptocurrencies.

Currently, Metaverse-based virtual ecosystems are the latest evolution in the gaming industry, leading gamers to experience next-level environments. Metaverse in the gaming industry can either be centralized or decentralized, although gaming companies focus more on decentralized projects since the future is decrypted.

4 Modern Technologies that Empower the Gaming Metaverse

The gaming Metaverse has been leveraging modern technologies and has urged gaming companies to shift their interest toward Metaverse games. They strive to deliver an impeccable and best-in-class gaming experience. Metaverse game developers use next-gen technologies, including blockchain, artificial intelligence, and IoT.

Let’s dive into the top emerging technologies required to develop a gaming Metaverse:

AR and VR Technology

The AR and VR technology offer inevitable and exciting 3D experiences empowering Metaverse development. AR has the potential to transform the real world and creates an amazing virtual gaming world using visual elements and characters. It facilitates smartphones and digital devices to let customers enjoy impeccable gaming experience.

Blockchain and Metaverse cryptocurrency

Blockchain technology facilitates businesses to develop decentralized Metaverse projects. It enables companies with enormous benefits, including digital proof of ownership, transfer of value, digital collectability, and interoperability. Metaverse based Cryptocurrencies permit users to transfer value in the 3D Metaverse.

Internet of things (IoT)

While leveraging the power of IoT solutions, Metaverse can collect, obtain and utilize massive data from the real world. The applications of IoT connect the virtual world of the Metaverse to real-world digital devices so that objects can easily switch in the changing environments.

3D reconstruction

Implementing 3D applications is a traditional practice, but 3d reconstruction is a modern trend that has gained traction during the pandemic. Most real estate companies adopted this technology to take their potential buyers on a virtual property tour. Metaverse technology has been using 3D reconstructing to complement other technologies already existing in the Metaverse.

This has also ushered a new gaming reality called Web 3.0 gaming that allows players to move characters from one gaming experience to another. This model is also popularly known as the “play-to-earn” model in the virtual gaming platform.

How Metaverse Impacts the Virtual Gaming Platform?

According to a study by Ernst Young, 97% of executives believe that the gaming industry is central to the development of the metaverse, and 48% of the executives state that the Metaverse would change business models for virtual gaming businesses and drive revenue while also giving brands new opportunities to build relationships with their customers.

How do you use the metaverse in gaming?

Metaverse is a virtual world that connects global customers with a shared digital platform to interact and socialize. Businesses looking to invest in Metaverse for gaming, leverage modern technologies, including 3D reconstruction, Augmented Reality, IoT, Artificial Intelligence, and Blockchain, to develop powerful and future versions of the Metaverse gaming apps.

The Metaverse has the potential to fascinate users by offering them an impression and environment that they are truly in the real world they have entered. It provides them with a 3D environment or space where they interact closely with the elements around them.

Future of Gaming Metaverse

Metaverse in the gaming industry is elevated to new heights with each passing year. It has now become a mainstream technology and the next big thing that will change the face of the gaming world. It’s a one step forward, and it might surface before you realize its power to uplift virtual reality.

While Metaverse gaming is still in its initial stage, metaverse development companies strive to launch their next-generation gaming platforms. Decentraland and Sandbox are examples of futuristic projects, and big tech giants like Microsoft and Facebook are coming with their unique Metaverse projects in the coming years. Hence, we will likely experience a much-enhanced version of Metaverse in the future.

How can Appinventiv Help You with Metaverse Development?

Appinventiv is a leading Metaverse app development company carrying years of experience in building immersive applications. The team of Metaverse experts here can serve as a strong metaverse software development service partner that can take your project off the ground and lead it towards success. Our suite of Metaverse development services include: