June 20, 2022

iGaming Companies Planning to Enter the Metaverse in 2022

The global tech world is constantly morphing and moving towards what is currently hot. It’s a fast-moving industry demanding that you keep up with myriads of information to always be in the loop. Right now, the metaverse is one of the hottest entrants to the tech world. Tech giants are fighting to outdo each other by taking advantage of the potential benefits that the metaverse will bring while creating greater experiences for us, the users. After all, that is what the metaverse is all about, right? Coming up with innovations and features to create a space where the users interact with each other in the ever-expanding tech universe.

Like most emerging trends in the tech scene, the game world was never going to be left behind when it comes to the metaverse. Thanks to their quick adoption of new trends and technologies, gaming platforms serving the online casino Canada scene, the UK, the USA, and Europe are always at the forefront of offering the latest and most immersive player-friendly experiences. When the eSports market started going mainstream, the gambling world jumped into the opportunity and began offering eSports betting. Online casinos were also among the first to adopt free-to-play gaming, instant play in-browser gaming, and crypto payments. Moreover, with the advancement of VR and AR, iGaming operators are also making headway.

When it comes to the Metaverse, Entain, one of the biggest names in the global gaming scene, is leading the pack in embracing what many consider the future of gaming. Entain is the parent company of leading gambling brands like Bwin, Coral and Ladbrokes. The trailblazer recently disclosed plans to launch its global innovation hub dubbed the Ennovate lab. This innovation hub will be based in Charterhouse Square, Farringdon in London, at the heart of London’s tech community, and is planned to open in Spring. It has strategically been situated right next door to the UK’s headquarters of TikTok and Snapchat.

Entain’s Metaverse Ambition Isn’t a Solo Mission

In the quest to kickstart this ambitious project on a high note, Entain has teamed up with other tech companies like Verizon, BT and Theta labs. With the help of these three, the iGaming giant firmly believes it has the formula set to bring Ennovate to life. The idea is to bring forth groundbreaking experiences for users in the gaming world while enabling them to interact on a much broader platform that they couldn’t have imagined even in their wildest dreams.

$132 Million to be Pumped into the Project

If we are to judge the project’s potential based on the reported amounts said to be invested in it, then it seems we have an enormous metaverse in our hands. Entain disclosed that a whopping $132 Million would be pumped into the Ennovate hub to completely revamp how players enjoy its offering. According to Entain’s announcements, some of the main features of its metaverse include:

Non-Fungible Tokens

Non-Fungible Tokens, or NFTs as they are popularly known, have risen to prominence almost at the same pace as the metaverse. They will potentially form the bedrock of iGaming because of how they work and what they will mean for gambling enthusiasts.

As the name suggests, NFTs are unique non-fungible assets which essentially means that they cannot be exchanged for an asset of similar value. NFTs may range from different items such as music, monuments, pictures, art and trophies, among many other things. They are items that you can attach a value to, and so they can bring you money. With the Ennovate metaverse, Entain intends to help fund NFTs like PartyPokers’s newest NFT collection that is set to showcase some of the iconic moments in the tournament history.

Enhanced Virtual Reality and Augmented Reality Experiences

AR and VR on their own offer fantastic entertainment for gamers thanks to boosted levels of interaction and immersion. Now imagine what enhanced AR and VR would look like in a metaverse – it is certainly going to be a blast! Ennovate plans to leverage AR and VR technologies to ensure that players relish their favorite games in an experience that rivals what’s accessible in Sin City or Macau.

More Gaming Companies Embracing the Metaverse

Though not exclusively a gaming company, Nvidia, one of the world’s leading GPU developers, has also made a significant investment in the metaverse. It even has a program specifically built for developing metaverse-ready assets known as the Omniverse.

In April last year, Epic Games also announced that it had rounded up a whopping $1 billion to finance its metaverse ambitions, a testament to the fact that the gaming world is ready for the metaverse. More companies have to come on board, though, specifically iGaming brands, to finally make the dreams of a metaverse future a reality.

About the author 

Elle Gellrich

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