The metaverse is a big point of discussion due to its phenomenal adoption from the big technology companies like Meta, Microsoft, Amazon, etc. A report from Bloomberg predicts that the metaverse can become a market of $800 billion by the end of 2024. The massive adoption of technology companies is narrating the whole story. The metaverse is all about virtual experience in a digital replica of our universe.
However, the gaming industry has been using such a concept of the virtual world for a long time. We will explore how the metaverse is related to the gaming industry, but at the same time, a lot more different from it. People can take the metaverse game development services from the companies. So, the question arises: what's the difference between these two?
Does the Metaverse already exist in the gaming industry?
Some people believe there is no metaverse as of now. No one knows what a metaverse is, but combining the results of a more credible definition can be; that social cyberspace intersects with the real-life economy and integrates with other online platforms.
Nothing is doing this on a large scale right now. Instead, we have a few popular virtual worlds like Second Life, games like World of Warcraft, and a slew of technology companies drooling over a new way to brand their vast array of digital products and services.
The metaverse isn’t entirely available in the games, but a portion is present in massively multiplayer online role-playing games (MMORPGs). Even though that part is not present in the same form, the basic concept is identical. Let’s see the difference between these two:
Difference Between MMORPGs & the Metaverse:
The argument of the similarity between MMORPGs and the metaverse has been constant, and some people can’t see the difference between these two. Most popular multiplayer games include the names like EverQuest, World of Warcraft, Elder Scrolls Online, etc. These are great examples of MMORPGs that were able to grab the attention of gamers and provide a digital world to explore.
However, the difference is that these games are centered on some stories. Even if people think they are in control, they are not. Their quests and challenges revolve around the story of the game. In contrast, the metaverse will offer much more freedom to the people. Users will be free to create their own stories, complete quests, and redefine their entire existence.
I am not saying that metaverse or games don’t have issues; each technology has its pros and cons. A survey from GDC shows how the gaming industry is evolving and ready to counter the problems it might face on the way. Metaverse is also still young; people are identifying its areas of weakness and trying to improve them.
Relevance of Metaverse With the Games
Let’s delve into some of the common points that games and metaverse have:
- We can take on the role of a wizard, a knight, or a trader in an online video game. Such experiences of doubling oneself, whether in our own form or that of a character, will be possible in the metaverse.
- Things that we are prepared to obtain and that have a unique value. It might be a piece of armor or a horse in an online game. It might be a talent, like the ability to fly, or it might even be a piece of art in a metaverse NFT that we have obtained and displayed at home.
- Entire cities — actual or fictitious — with venues for competitions, recreation, etc. (we may digitally see New York before visiting there in person). Homes you can "welcome" friends in and design whatever you choose. We are always free to exit this world. When you return to it, it will have changed concurrently.
The relevance of the metaverse is likely to increase with time. The reason is that a few portions of the metaverse core concept already exists in gaming. The metaverse will be a much bigger world of virtual ecosystems than video games. The rise of new technologies will assist the metaverse in its journey.
The Potential Of Metaverse
The metaverse has limitless potential. Each new experience may be duplicated in-game (or in-world) and boost user engagement, whether it be an event, an NFT, or obtaining player support. There may be no friction. This is not a static advertisement, as Barbara Messing, chief marketing and people experience officer at Roblox, explained to Business Insider. It allows one to effectively engage audiences and share a compelling tale about the company.
Matthew Ball — a venture capitalist and one of the foremost futurists involved with the metaverse concept — has written that new technologies, protocols, businesses, breakthroughs, and discoveries are required for the metaverse to grow. No clear "Before Metaverse" and "After Metaverse" will exist. Instead, it will gradually materialize as various goods, services, and capabilities integrate over time.
Emerging technologies like 5G will contribute to providing the speed and power necessary to enable the operation of digital worlds. To deliver latency-free experiences through virtual and augmented reality, digital devices must be supported by significant developments. More extensive adoption of haptics, devices that excite sensory experiences like touch, is also required. A metaverse also needs more vital brand awareness.
Metaverse development is all about developing a replica of our world where users will have a choice to do their daily-life tasks in a virtual environment. The big tech companies have already invested billions of dollars to develop the metaverse.
The metaverse technology is the talk of the town due to its growth potential. Some people even say that it is the successor of the internet. If metaverse becomes the successor of the internet, it will be a place for people to hang out, socialize, and perform daily life tasks. The integration of the NFTs plays a critical role in gaming and the metaverse.
The emerging technologies are summing up to create a digital future for humanity. This claim of technologies is what excites the people of today’s world. Metaverse and related technology evolution have certain risks.