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The Metaverse is only a few years away from mainstream adoption. However, that doesn't stop projects from building their applications and growing loyal communities before the virtual universe comes out. It is the case of Metaverse casinos, which are developing remarkably fast and attracting legions of players and followers.
Since its inception, blockchain technology has spurred one innovation after another. The first significant one was, without a doubt, Bitcoin. Then, the most popular cryptocurrency in the world inspired the development of altcoins. In turn, they led to an explosion of decentralized finance protocols. And, if we continue this timeline, we observe the evolution of NFTs, GameFi and the Metaverse bursting like supernovas.
Blockchain will surely spark now-unthinkable applications and products in the future. So, before we get ahead of ourselves, let’s look closer at how, together with NFTs, is shaping the Metaverse casino.
Before we dive deeper into the virtual gambling arena, we should refresh our understanding of the Metaverse. After all, it is much more than a flashy presentation Mark Zuckerberg fudged together to announce Facebook’s rebranding. So, what is the Metaverse?
The Metaverse is a virtual universe enhancing countless aspects of physical reality. Hence, the “meta” term, which stands for “beyond,” represents this digital space with limitless possibilities. Like the internet, the Metaverse is not under the control of a specific entity. Instead, those who use it, including individual creators and decentralized protocols, dictate its development.
The Metaverse can host numerous applications, including games, financial services, and social platforms. A Metaverse casino reunites all these aspects into an interactive product for virtual space users.
Simply put, a casino in the Metaverse functions similarly to a brick-and-mortar one. It offers gambling games with potentially enriching rewards or equally heartbreaking losses. A striking difference between the two is that Metaverse casinos use digital assets, like cryptocurrencies and NFTs, instead of fiat.
Another significant difference is how you access a Metaverse casino, which will be mainly through a VR headset. This connection won't be strange if you have a passion for online gambling and virtual reality casinos. These online establishments have been around for almost a decade. And, as great of an experience they may offer, they are light years away from what Metaverse casinos can provide.
Playing in a Metaverse casino will have you travel virtually into a gambling venue like in a real casino. However, you don't have to take your VR headset off once you finish playing. Instead, you can explore other Metaverse applications. For instance, you can take your gambling earnings and use them to mint NFTs or buy virtual land.
If you are a gambling enthusiast, you should consider trying the Metaverse casino experience. However, you should know that it differs significantly from betting in a web-based casino. For instance, you will need a VR or AR headset. This way, you can immerse yourself in the virtual space and get the best out of it.
In Metaverse casinos, your credit card and fiat money are useless. Instead, you will need to convert your fiat assets to digital coins on the blockchain. So, you will need a crypto wallet like MetaMask, for example. Also, you require an active account at a decentralized cryptocurrency exchange, e.g., Binance or Coinbase.
Next, pick a Metaverse casino where you can use your cryptocurrency. Read their policy and make sure that they have a license. Connect your wallet and, as always, gamble responsibly.
A Metaverse casino runs on the blockchain. This technology gives it greater security that online casinos enjoy on web-based ledgers. Furthermore, it allows decentralized gambling establishments to build an immutable record history. As a result, it is less susceptible to fraud or cybercrimes.
While the market for decentralized gambling is only now emerging, some projects are already up and running. Here are three Metaverse casinos you may wish to consider if you enjoy gambling, betting, or harmless honky-tonk gaming.
New Frontier Presents Odds City
The New Frontier Presents Ecosystem is a “boundary-pushing Metaverse company” combining almost all blockchain innovations out there. For instance, it incorporates play-to-earn (P2E) games, watch-to-earn (W2E) advertising platforms, NFTs, and digital currencies. Behind it is a team of highly-skilled and experienced AAA game developers. Their goal is to establish a powerful Metaverse presence as technology shifts from Web 2.0 to 3.0.
Odds City, a Metaverse casino, is one of the most interesting applications from New Frontier Presents. This virtual gambling venue is available even for those who don't have a VR headset. Instead, they can play blackjack, slots, poker, roulette, and more, in 2D, on desktop browsers and mobile devices.
Odds City features an ERC-20 token, NFP, which has utility and liquidity-building purposes. Holders can use it to unlock several layers of entertainment, earning, rewards, and partnerships. Lastly, the casino will reward new users for signing up and their first deposits.
Decentral is a virtual casino venue within Decentraland, one of the most popular Metaverse projects. This gambling platform launched in 2021 and provides several gaming options, such as poker, backgammon, roulette, slots, and blackjack.
Fueling this Metaverse casino is the $DG token, which players can use to vote on profit rates and rewards. Alternatively, they can earn DG tokens in gambling applications and later exchange them for crypto or fiat.
Currently, Decentral does not have a versatile collection of games, which only consists of poker, roulette, slots, and blackjack. Also, it has a sparse user presence at times, which makes pairing for poker games tricky.
Nevertheless, Decentral compensates for a limited gambling experience with appealing NFT features. For instance, its ICE Poker application is available to play for free for anyone holding an ICE Wearable NFT. In return, they can earn actual crypto rewards. Those who don’t want to buy an ICE NFT can always rent one from other players.
Edgeless is one of the early, if not the first, blockchain-based casinos to make a name for themselves. This project developed on Ethereum and grew to mainstream popularity in 2018. It has a longer history in the field than the Metaverse casinos above. This enabled it to diversify its offer of gambling opportunities, including dice, roulette, poker, crypto gems, and more.
Edgeless has a highly transparent approach to crypto gambling. For instance, the casino has an official license from the Curacao Gaming Commission. Also, it allows users to see its smart contract, bankroll, and the entire history of jackpot payouts.
Lastly, Edgeless features a utility token, EDG, which allows users to gamble in its casino games. Unfortunately, similar to Decentral, this virtual casino also struggles with periods of low user activity.
As the Metaverse develops into a larger-than-life technology, its applications will most likely evolve unpredictably. Nonetheless, the virtual casino sector will probably have an irresistible appeal over Metaverse users. After all, it combines entertainment with play-to-earn games, social interaction, and potentially high financial rewards.
Gambling in a Metaverse casino sounds exciting for avid betting enthusiasts and newbies alike. However, as with any new technological feat, you should take it with a pinch of salt. Most importantly, you should always do your own research and apply moderation when gambling in the virtual space.