Metaverse is projected to be the future of the online gaming industry

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With the advancement in technology, reliance on the internet has appreciated greatly over the last few years. Whether it is for work, communication, or entertainment, the world has taken a major shift along with the ongoing digitalization. The prominence of social media and online shopping has increased leaps and bounds, and the same is turning out in the entertainment sector.

Because of better internet connectivity and the availability of smartphones, the mobile gaming industry has also evolved significantly over the last few years. With the rapid technological advancements in the gaming sector, games have become more realistic with the help of 3D visuals and effects. Players in the online gaming market are also enhancing the way games are developed to offer gamers the best gaming experience.

Moving forward, TechInsight360 expects virtual reality, especially metaverse, to soar to new heights in the online gaming industry. The technology is gradually becoming mainstream, and by creating an immersive visual experience, the metaverse is projected to offer a whole new realistic experience to online gamers. Notably, the handshake between the gaming industry and metaverse will allow online gaming firms to engage gamers in ways that were previously never thought of. Betting on the future of metaverse and online gaming, several firms have already started investing heavily in technology. For instance,

• In September 2022, Devla GmbH, one of the largest metaverse development firms in the world, announced that the firm had entered into a strategic collaboration with Ultron Foundation, the firm which is better known for its ever Layer-1 blockchain. Under the partnership, the two firms are creating an immersive football game.
• The Ultron Football Metaverse developed by the firms will allow users to make money. Notably, the users will be able to buy and develop land, of course, with a strong focus on football. Notably, the Football Metaverse will allow users to mint their own football team NFTs, play actual games, compete in different leagues, as well as buy, sell, and develop players.
• In September 2022, Atari, the iconic consumer and gaming brand, announced the launch of its Sunnyvale experience in the Sandbox metaverse. Notably, the Atari Sunnyvale experience is based on nine of the most classic Atari games. It also includes an entire game based on Crystal Castles.
• Within Atari Sunnyvale, gamers will be able to explore and interact with each other as well as with non-player characters based on Atari characters. Gamers can participate in various games and quests and win rewards. Notably, Crystal Castles is a game where gamers race through a maze-like castle, collecting gems and fighting the enemies. The Crystal Castles is the first of the many games to be launched by Atari.

The growing innovation in the metaverse space has also led traditional gaming platforms to increase their investment in the sector and drive new revenue source. For instance,

• In September 2022, Roblox, one of the leading online gaming platforms in the world, announced that the firm plans to launch Immersive Ads in 2023. Notably, brands and developers will be able to create never-seen-before ad experiences on the Roblox platform, thereby allowing developers to generate incremental revenue. On the other hand, brands will be able to reach their targeted audience more effectively.
• Notably, the launch of Immersive Ads is part of the firm's strategy to expand beyond in-game sales and generate a new source of income. By the end of 2022, the firm is planning to test out the new Immersive Ads feature with developers and a handful of marketers. According to the firm, Immersive Ads will only be shown to viewers aged 13 or older.

With metaverse gaming taking center stage, advertisers are also projected to explore the space by turning to popular games as the test grounds for their campaigns from the short to medium-term perspective. TechInsight360 expects that by infusing metaverse into the online gaming sector, firms will be able to build a reality-like experience and attract more audiences from the short to medium-term perspective.

While the metaverse is still in its nascent stages of development, many firms have launched next-generation gaming platforms. Sandbox and Decentraland are prime examples of futuristic projects. With tech giants like Facebook and Microsoft also planning to come with their metaverse projects, TechInsight360 expects a lot of innovation in the segment over the next three to four years.