The term “Metaverse” has become wildly popular in recent times, with tech titans such as Facebook, Google, and Amazon, among others, weighing in on what appears to be the future of the internet brought to life by blockchain technology and cryptocurrency. The term “Metaverse” first appeared in Snow Crash, a science fiction novel published in 1992. The Metaverse is difficult to define or explain because it means different things to different people. Nevertheless, we can say that we are witnessing the birth of something substantial, a virtual, immersive 3D world that aspires to be the internet’s future. The metaverse is slowly becoming a reality. Many metaverse projects, such as Decentraland and Sandbox, are currently on the market, attempting to give the public a general idea of what to expect in the metaverse.
The Metaverse’s distinguishing feature is decentralization, a concept commonly associated with blockchain technology. There is a need to balance and cater to all aspects that define the human race for the Metaverse to function and run optimally. Looking further ahead, we would concentrate on one specific part, looking at the ideal gambling industry in the Metaverse in this article and how radical the change might be compared to the current state of the gambling industry.
Casinos In the Metaverse
The gambling industry is currently worth around $59 billion, and it is expected to more than double in the coming years. Online and physical casinos contributed significantly to the current market cap of the gambling industry. The first casinos or gambling houses appeared in Venice, Italy, in the 17th century. Casinos have grown in popularity and traction, and according to Yahoo, the global casino gambling market is expected to grow by $32.54 billion between 2021 and 2025. However, many online casinos have failed to provide an immersive social experience for their users, which has hampered the overall casino experience. Centralization is also a mainstay in today’s gambling industry, with most casino gambling companies all controlled by a single identity, robbing their users of autonomy.
Everything can be improved, and innovation is the foundation of the human race. The emergence of cryptocurrencies and the Metaverse concept may provide the answers we seek to improve the state of online casinos.
Introducing SlotieVerse & Slotie Juniors
SlotieVerse aims to reinvent the online casino gambling industry by constructing a casino city in the metaverse that provides an immersive social experience for all users. SlotieVerse is a decentralized virtuality platform built on the Ethereum blockchain. Casinos in the SlotieVerse are more than just games, focusing on the overall social experience. SlotieVerse can be compared to the Metaverse’s “Las Vegas.”
Virtual casinos in the SlotieVerse can provide users with various forms of entertainment, such as hosting virtual events. The SlotieVerse would use NFT technology to create unique avatars for each user. The first collection, Slotie Juniors, consists of 10,000 unique utility-based NFTs built on the ERC-721 standard. Holders of Slotie Juniors are entitled to a variety of benefits, which include:
- Exclusive Holders Reward: Holders of Slotie Junior NFTs receive additional benefits from the SlotieVerse NFT marketplace, where users can trade various digital assets. In addition, holders receive additional rewards from Slotie Juniors’ slot machines. By becoming liquidity providers, Slotie Juniors holders earn various rewards from the slot machines.
- Free Spins, Discounts, and Rakebacks: Slotie holders can attend virtual events in the SlotieVerse at a discounted price, as well as receive free spins on slot machines and rakebacks on other casino games in the SlotieVerse.
- Wall of Owners: In the SlotieVerse, there is a wall of owners with 10,000 statues of each unique Slotie Junior. Slotie Junior owns these statues and can name them after themselves.
Casinos in the Future
Casinos are the gambling industry’s powerhouses, and they will remain so for a long time. The introduction of the metaverse is intended to improve the social experience of active gamblers. Projects like SlotieVerse are currently laying the foundation of casinos in the Metaverse and plan to play an essential role in the Metaverse’s mainstream adoption.