Crypto currency

Crypto casinos in the Metaverse continue to show strong interest

Crypto casinos continue to emerge around the Metaverse as tourists to the virtual world continue to play their favorite gambling games via this new method that can be utilized.

Decentraland is one of the biggest platforms at the moment in which punters are currently enjoying this new experience, with bettors able to access the virtual space via a web browser. Once they access the Metaverse, they are able to create an avatar to visit a variety of different destinations, with the ICE Poker casino being one of the most popular hotspots.

What do players need to access a Metaverse casino?

Once players go inside, there are a number of other characters that are already located in the crypto casino, with each of them typically located close to the poker tables that are available. In order to play and participate, guests are required to either borrow or purchase a piece of virtual clothing – sunglasses, a hat, a shirt, or even a cigar – which they can then later sell for cryptocurrency. Additionally, the poker chips can be used to upgrade these items, thus boosting their worth.

Should a player own one of the digital items – which are commonly known as ICE wearables – they can then participate in the poker games that are made available. However, it should be noted that these items are not cheap, with each one being listed for around $5,000. Nonetheless, they are unique as they are non-fungible tokens (NFTs) and can be resold on a variety of marketplaces including OpenSea.

If players do not want to entirely sell their assets, then they can look to lend them out to other players, where they are then able to take a cut from any winnings that are achieved.

The numbers show there is significant interest in crypto casinos

There are four poker rooms available in Decentraland, with these rooms frequently hosting half of all the people located in its entire Metaverse.

In order to use Decentraland, players will need to buy and sell the Metaverse’s custom currency, which is known as MANA. This is thought to have a market value of approximately $4.7 billion, with around 600,000 people around the world considered to be accessing the Metaverse each and every single month.

Given that around half of all users of the Metaverse spend their time at the crypto casinos available, it is perhaps hardly a surprise to learn that the betting rooms have become the hub of the virtual world’s economy.

It has been revealed that buying virtual estate in the four major Metaverses to exist had been a huge revenue generator, with more than $500 million in the last year alone having been spent, however they have looked at trying to boost the number of users in recent times with the introduction of ICE Poker.

Decentral Games has revealed that they have paid out the equivalent of $15.4 million to players since operating the crypto casino. According to figures, it was also revealed that around 10,000 people had played poker on one day in February, whilst only 11% of those had owned the NFT that was used for entry; the remaining 89% were borrowed.

El Salvador looking to make its own move into launching crypto casinos

Indeed, this is not the only Metaverse to feature crypto casinos, though, with El Salvador launching its own platform, too. Coupled with a physical branch in the Latin American country, the name of the Metaverse casino will be known as Astro Casino and is operated by Astro Babies.

The casino – which is said to have slots and classic table games – will allow for non-fungible tokens (NFTs) to be sold, bought, and auctioned, with these transactions being run on the Solana blockchain by the Astro Babies initiative.

With these developments, it is clear that there is some interest in crypto casinos within the Metaverse, and it would not be a shock if we were to see more of them emerge in the future.

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