09 Jan 2023

How VR Will Affect Cryptocurrency and Other Markets

As more interviews and reports go out into the internet about how Mark Zuckerberg is putting everything into the Metaverse, it's only a matter of time before the craze affects the cryptocurrency market. After all, digital technology is coming into its own alongside growing digital currencies. They're different sides of the same coin, but they both represent the future and a movement away from the physical. No more paper money, no more driving 100's of miles for a family reunion. 

Everything's streamlined and convenient.

But it's this convenience that's going to start shaking up markets across all industries - and VR is, at least partially, responsible for that. And in a lot of ways, it's the catalyst to many of these changes as the technology will allow direct changes to every market. We're going to take a look at cryptocurrency as well as a couple of other markets we expect VR to change forever. So put on your Meta Quest 2, Vive Pro 2, HP Reverb, or whatever else you might have, and let's take a look at how VR is going to shake up the system.

Online Casinos

Casinos, in their current state, come in two varieties: physical locations and online casinos. The latter has been around since the internet's early days and has adapted well to the changes and demands of a technologically shifting world. Currently, crypto casinos are even starting to accept cryptocurrency payments from a multitude of coins. It's another evolution that casinos have gone through to give customers what they want.

The best crypto casino practice right now is a willingness to increase the number of coins they accept as payment. Multiple payment methods help players enjoy all of their favorite games regardless of what form of payment they have. Slots, blackjack, video poker, sports betting, and live dealer options all make up a part of what online casinos have to offer. Video poker especially is the direction we think VR will help players explore further.

While virtual reality won't take away any of what's already established, it will add to all of it by allowing customers to digitally walk around their online casinos. Players will be able to see the expressions of the opponents they're playing in poker. They'll be able to walk from the blackjack table to the slot machines. Online casinos will occupy and own what feels like physical space inside players' homes, as everyone will be able to play from the comfort of their den. In this, VR promises to merge the worlds of physical and digital casinos unforgettably. 

Professional Sports

From players to fans, virtual reality will change the game in professional sports. Players will be able to review previous games/ plays from on the field in real-time to learn how they can better improve their skills. Bigger yet is the ability for fans to be able to watch the game in a stadium from anywhere in the world. It's already possible to watch highlights with VR, so it's only a matter of time before fans will be able to buy a ticket to the action and watch from their basement. Everyone in the world can be at the game and that's huge. It's already possible to do so with certain sports like NASCAR, UFC, and EuroLeague basketball, but bigger entities like the NFL, UEFA, and NBA are sure to jump into the action soon. 


Lastly, and what we're sure all of you have been waiting for: crypto. It's no surprise that many views both cryptocurrency and virtual reality as the future. Crypto has been projected to go from a market worth $1.78 billion in 2021 to over $32 billion in 2027.  Virtual reality has likewise been projected to find a foothold in most of the world's industries. Because of this perception, being able to merge the two in meaningful ways should be intuitive and easy. 

We can already see plans to accept crypto as a valid form of payment in the Metaverse, and allowing that would add a level of legitimacy to both. With this partnership, both VR and crypto could feed into each other. As consumers become more curious about VR and willing to adopt it, they will be exposed to crypto even more. This could be a symbiotic relationship that changes countless industries forever. 

We'll just have to see how far along the Metaverse and VR as a whole comes. A lot depends on how sophisticated the technology becomes and just how many people decide to give it a chance.


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