Gambling in metaverse aims to guide you to the casinos, sportsbooks and poker rooms that are or will become available in the metaverse. To gamble in different metaverse worlds is still not uniform or straight forward in any way, it’s legally differently implemented and the way you enter and interact with the different gambling services multiful.
The metaverse concept has been around for some decades now, but is lately gaining a lot of traction and is starting to become noticed by the mainstream. When you enter the metaverse you will be able to do almost anything, playing games, gamble in a metaverse casino, buy real estate or artwork and interact with other visitors of the metaverse. We have written a guide to take you through the concept of the metaverse, check it out here.
Within the metaverse there are a number of metaverse worlds already created. Decentraland is already up and running, The Sandbox which is in the process of releasing to the public, and Atari’s metaverse world that is in development hopefully to be released in 2022. These are some of the most exciting examples of metaverse worlds out there, but this is just the beginning.
Gambling is one of the activities that you can undertake in the metaverse. It has some things in common with the traditional land based casino or the online casino, but in the metaverse it’s taken to the next level. Redefining how we experience gambling in casinos as well as the more flexible concept of play to earn gambling.
Casinos in metaverse are in a sense closer to land based casinos that you can visit than to online casinos that you enter through a webpage. When you enter a casino in the metaverse you actually walk in to a virtual casino where you can see other visitors, pick a slot machine or a poker table and sit down to play. The experience can be much more exoctic than so depending on the creator of the metaverse casino, and the best is yet to come.
Play to earn as a concept has always been around but the term “play to earn” has come to be connected to gambling in the metaverse. When you play certain games in metaverse the outcome can be that you get a certain amount of crypto currency tokens or NFTs as a reward for winning. They can look close to a casual game but be driven by RNG (Random Number Generator) mechanics, skill based mechanics or a combination of both.
The metaverse is a completely new concept, and all the different options for worlds and experiences can be overwhelming. We are creating guides for you to navigate the metaverse and how to get started, and we are also creating metaverse gambling guides to make sure you understand how it works, find an experience that is good for you and understand the legal aspects.
The legal situation of gambling in the metaverse is still not entirely clear, the types of experiences, the mechanics, the assets you wager are all relatively new. Especially to regulators that are not always known to keep up with the latest trends. There is gambling activity going on in the metaverse already, and it is a rapidly changing landscape for how this is handled from a legal standpoint.
The regulator or license issuers have yet to specifically address the gambling licensing in a metaverse casino. However, the fact remains that you are offering casino RNG games to players in certain physical territories around the world, which does require a license to do so. Some of the games offered do not follow the template of a typical casino game, in these cases they may fall out of area of gambling, even though you may as a player profit from the activity.
Crypto currency and NFTs are synonymous with the metaverse at this stage, as they inherently enable the ownership of the experience to be less centralized. Most of the current tokens or NFTs are only really usable within the specific metaverse world they were created to serve, or exchanged by speculative investors. In the future that may change and maybe should change and you can move your crypto currency tokens and NFTs between different metaverse worlds.
Crypto currencies in the metaverse have the same utility as fiat money would have in the real world. The most common one to use as a base when getting in to the metaverse is ETH (Ethereum), which you will be able to trade for metaverse world specific tokens like MANA (Decentraland), SAND (The Sandbox) or the ATRI (Decentraland & Atari metaverse world). The metaverse world crypto currencies have recently exploded in value as the metaverse concept has become more mainstream.
NFTs are one of the most important components of the metaverse, they represent objects you own in the metaverse. Anything from owning a piece of land, to the house that sits on top of it, a car or airplane to get around or the finest art, comes in the form of NFT. You can buy, sell or trade the NFT when you want and if the value has gone up you will make a profit as you sell it.
You enter the metaverse using hardware such as AR (Augmented Reality), MR (Mixed Reality) or VR (Virtual Reality) headsets. VR Headset is by far the most common and immersive way of entering the metaverse. There is other equipment you get which enhances the experience further, such as VR Bodysuit for haptic feedback and VR Treadmill for moving around in the metaverse.