Metaverse Games and the future of gaming

Metaverse — a virtual world that all the tech experts predict can literally change how we operate on the internet. It holds significant prominence because of its potential to revolutionize the way we live right now. Right from how we socialize with others, watch music performances, engage with fashion businesses upto the way we play games, the metaverse will have it all.

If your business is seeking a new demographic, gaming is the place to go. This is especially true if you’re targeting youngsters. The metaverse’s target audience right now are young gamers, with Epic Games leading the charge.

Companies like Roblox, Facebook, and Naver are all creating their own metaverse; however, a “true metaverse” would enable users to seamlessly move across millions of experiences across these businesses’ platforms. It will take some time for consumers to freely cross between millions of experiences without interruption. The true metaverse must be decentralized, users should have a say in how the metaverse is built, how their data is used within it, and how they incorporate it into their daily lives.

What exactly are Metaverse Games?

While talking about metaverse gaming apps, we refer to games in which players interact and explore a shared virtual world environment. There are several games available in which users control an avatar and communicate with others while playing the game in a massive, shared, multiplayer virtual world.

Gaming companies are creating their own metaverses, with Epic leading the charge. Travis Scott and Ariana Grande holding their concerts inside the Fortnite environment has got a lot to do with the rise of metaverse gaming apps. Epic is now on the verge of creating its own gaming verse, in direct competition with Facebook.

Why are companies banking on Metaverse Games?

In-game advertising

With the rise of metaverse games, advertisers now have a chance to reach out directly to their target customers. Gaming has always been a robust advertising platform for companies. The future of esports will include not just gamers but also spectators who want to be part of the action.

Read more about Metaverse and creator economy

The gaming industry is expected to grow at a tremendous rate in the current year, so any kind of progress would lead to more investments.

With Metaverse games, the companies can build their own monetization platforms, thus avoiding paying huge commissions to big tech companies like Apple and Google. If enormous growth in the game industry is actually build on centralized systems of value, the nascent transformation of the industry with the so-called ‘play-to-earn’ games (games allowing players to ‘truly’ earn and own digital assets that they can then sell outside of the game at their own discretion) could bring digital identity, assets, ownership and more into player’s hands. In the future, the people will hold power and decide what the metaverse will be. Kiriin Labs AG collaborates actively with Dual Cityzen to develop a platform focusing on the influencers and the possibility to build and take control of their own Metaverse Communities.

More Revenue

Blockchain technology is currently being utilized in a large number of contemporary metaverses. Users must have cryptocurrency or NFTs to use these networks. The games are designed within their own metaverses that utilize native cryptocurrencies for transactions and receiving bonuses.

The lockdown led to a huge amount of boredom. On the positive side, people began to see the gaming business’s potential. With the increase in the number of players, more investments would come in, and as a result, companies are going to invest heavily in metaverse games.

Intuitive Medium for Businesses

The biggest strength behind metaverse games is the intuitive medium that it provides for all businesses. Gaming has already proven to be one of the most effective marketing channels. In recent years, marketers have discovered how they can use this channel for their own benefit by creating engaging games rather than just using ads within them.

Metaverse also provides access to a large number of gamers and therefore offers opportunities for businesses. The best part is that it’s still in its early stages; as this technology becomes more popular, the potential revenue generated by metaverse games will only increase.

Metaverse Games — What’s the future?

Metaverse games have a lot of potential, which can be realized once there’s more awareness among users and businesses alike. It will take some time for these new technologies to become household names, but when it happens — watch out! The next generation of gamers will be the ones defining this new realm of possibilities.

As mentioned by the World Economic Forum in the Future of Media , Entertainment and Sport Report :

“While play-to-earn is still an emerging niche, it could redefine more than just the gaming landscape. In fact, we make the case that it has the potential to change how people interact with and perceive traditional socioeconomic structures like financial institutions, marketplaces, and governments. This is because play-to-earn games provide a proof of concept for a self-sovereign financial system, an open creator economy, and universal digital representation and ownership that lend themselves to a wide variety of emerging digital environments and forms of value creation”.

Kiriin Labs AG is based in Zug, Switzerland and is an active FinTech and Web 3.0 Technology company with its core services providing decentralized solutions as well as design, transformation and implementation advisory for both private and public companies and institutions. Kiriin Labs AG provides Game-as-a-Service solutions ; GaaS refers to games that operate without initial purchasing costs and instead, make their profits on subscriptions or in-game purchases. Kiriin can build a complete set of technologies, tools, and services that erase any barriers to entry in blockchain technology — for developers, players, and fans.

Feel free to contact us : info@kiriin.com