Why this Metaverse Casino is Poised to be Web 3.0’s Next Big Thing?

The concept of the Metaverse still might seem like it came straight out of science fiction, But, the exciting new era in the tech world is nowofficially a reality.

As a refresher, the Metaverse is an interconnected virtual space that merges the virtual versions of elements of the physical world and the physically persistent virtual world. Within the alternate digital reality, people can play, work, socialize, and even create an entirely new system of economy.

The possibilities with the metaverse are endless—users can go on a date, travel to another country, play video games, and now even make new friends by attending a party. The dawn of the new technology has created an abundance of unforeseen opportunities across an array of different industries that benefit from blockchain’s increased security and transparency.

But despite metaverse technology taking off, there have still been limitations to the technology, including storage capability, the inability to create a fully immersive experience, and physical limitations like bulky virtual reality headsets.

Newcomer to Web 3.0, Planet Maya powered byChampion Games, plans on changing these limitations through its state-of-the-art platform that boasts the world’s first collaborative open-source virtual reality casino.

Through its economy and community of game developers, odds-makers, and players, Planet Maya’s platform aims to change the perception of online skill-based gaming. This is by building global play-to-earn experiences that converge sports, technology, and entertainment.

The company aims to not only solve the common pain points discussed above but also take betting back to what it used to be, fun interaction between peers. It aspires toward a world where players are playing for the love of the sport, and not being taken advantage of by finance.

“At the end of the day, we strive to foster a healthy yet competitive environment for those who love sports and gaming and place the financial power back in the hands of the players by creating an economy where players and platforms are equal,” the company states in its whitepaper.

Digital money-making games are already an incredibly profitable industry. But, by merging metaverse technology with skill-based gaming, metaverse casinos have the keys to bringing more regulation and transparency to the online betting world.

So how exactly does it work? The platform’s sustainable software ecosystem leverages the technology of smart contracts which control both the incoming revenue from customers and rewards allocated to the makers and miners.

Its token mechanism helps developers tap into this new source of revenue by generating the smart contracts needed for a new game. These smart contracts can then be deployed to a public blockchain and upgraded with new logic to reflect the latest odds through the odds-making mechanism.

In a nutshell, users spend tokens ($MAYA) in their wallet to get access and wager on a game. A smart contract, acting as the billing agent for the game, allocates a portion of these tokens to the creators of the open-sourced code or the provided services.

Users who spend tokens gain access to wagering on a game. A smart contract, acting as the billing agent for the game, allocates a portion of these tokens (rake) to the creators of the open-sourced code or the provided services.

How exactly can this help give the power back to the end-user? When every user is a paying customer, the relationship between the user and the team behind the game is leveled. Users can now wager on a game using crypto knowing that the teams behind the scenes will be incentivized to keep this revenue flowing by providing new features, upgrades, and player support. To find out about Planet Maya’s exciting new platform, check out itswebsite today.