Online Casinos And The Metaverse - Fad Or The Future?

Last October, Decentraland, a browser based metaverse, launched its first metaverse casino, ICE Poker, and quickly gained an impressive 1000 users per day, adding up to a reported revenue of a staggering $7.5 million in just three short months.

A world of difference

Unless you’ve been living under a rock, you’ve no doubt heard the word ‘metaverse’ being bandied about on the news. The metaverse essentially takes virtual reality and raises it to create a network of 3D virtual worlds to allow users to place themselves into these ‘worlds’ and perform numerous activities. You’d be forgiven for thinking that this all sounds like something from a dodgy sci fi movie, but it’s real, and it’s here. 

Decentraland has got in on the metaverse on the ground floor and, the ICE Poker casino is just the latest in a number of metaverse activities created by the company. Decentraland allows customers to buy virtual plots of land on its platform, using NFTs as currency. Launched in February 2020, the company is overseen by the Decentraland not for profit foundation and has gone from strength to strength during its short life. 

Putting your cards on the table

Decentraland’s ICE Poker allows customers to enjoy the full casino experience by immersing themselves into a venue via the platform. In order to become a member, users are required to buy NFT virtual wearables such as clothing, sunglasses and accessories. Once they’ve made their purchases, users are allotted a daily number of chips to be reset at midnight. To play and earn places on the leaderboard, players must complete challenges of varying difficulties. On gaining 1000 users a day, founder, Miles Anthony, says, ‘When it comes to the open metaverse, it’s pretty substantial, considering the main issue right now with metaverses is that they’re empty’. 

While Decentraland is already very much up and running with its casino in the metaverse, other brands, including Atari, are looking to get in on the action as the success of ICE Poker has shown that there are substantial profits to be had. 

Conclusion

While it remains to be seen whether metaverse casinos are here to stay, Decentraland has shown that this is anything but a fad. In a post-pandemic world, many people have become accustomed to the cost savings and convenience of staying home and, the metaverse very much fits in with this lifestyle switch. We are probably yet to see the real thrive of online casinos. We shall see if such great casinos as casino online LV BET also will find their way to the Metaverse environment.