How can you briefly explain the characteristics of the Metaverse applied to the gaming industry, which will improve player experiences and offer a new business unit for companies?
The Metaverse applied to this industry represents a significant evolution in the way players interact with casino and entertainment experiences, as it will also be for the companies in the sector that are part of this step towards the future. It can be achieved through immersive and highly personalized experiences that allow players enter into virtual worlds that go beyond the limits of reality. For players, that means greater engagement, excitement, and the ability to explore a universe of interconnected games (or in our case, a universe of casinos and entertainment venues). For companies, the Metaverse offers a new business unit, providing an environment in which they can create and offer unique games, products and services that adapt to the individual preferences of their players. This encourages user retention and monetization, as players are more engaged and willing to invest in personalized experiences. We can see this even in current Metaverses applied to the world of video games, with titles such as Roblox, Fortnite and GTA Online, in which transactions for virtual items or skins for a virtual character generate huge annual profits for the companies in charge of their development.
In the imagination of many people, related to the gaming sector, there is the idea that, for example, the Metaverse is a kind of updated online social casino, with virtual reality tools. What differences or interconnections are there between the Metaverse, virtual reality and artificial intelligence?
The Metaverse, virtual reality (VR), and artificial intelligence (AI) are interconnected but distinct technologies. The Metaverse is a broader concept that encompasses virtual environments in which people can interact and participate in various activities, including casino games. On the other hand, VR is a technology that provides immersive experiences by allowing people to insert in virtual settings using cutting-edge devices, such as Meta Quest, PlayStation VR, and soon, Apple Vision Pro, among others. Lastly, Artificial Intelligence (AI) refers to computer systems that can perform tasks that would normally require human intelligence, such as machine learning and decision making. Therefore, in the Metaverse, virtual reality can be used to create highly immersive gaming experiences, while artificial intelligence can personalize and enhance those experiences based on player behavior and preferences. Together, these technologies offer incredible potential for innovation in the gaming industry, and that is precisely where Land Vegas comes into equation, offering innovation and technology at the service of the betting and entertainment industry.
Among the markets with huge growth in recent years, the United States stands out, accompanied little by little by Canada. What is the business potential for the Metaverse that you see in this country, and what strategy will your company implement in that region two years from now?
The United States is a key market to the Metaverse and to Land Vegas. We see great business potential in this country due to its enormous base of online players and its openness to emerging technologies, such as Virtual Reality, the main focus of the experiences we develop. Our plan for the next two years includes expanding our presence in the United States, both through strategic partnerships (an example is our recent collaboration with SCCG Management) such as participating in key industry events. We want to show how our gaming Metaverse can transform the gaming experience for all players in the future.
What will Land Vegas’ participation in G2E, the most important industry event in the United States, consist of? Which executives’ team will accompany you at the fair, what will you show there, and how can interested parties contact you to learn more about the Metaverse iGaming and see a live demo?
We will travel to the G2E show with Kevin Corenstein, COO of Land Vegas. We will both be present all three days of the event, offering attendees the opportunity to immerse in our VR gaming tool and experience first-hand our developments and advances, always maintaining our main focus during this year: establishing strategic alliances with investors, casino operators and game providers. Those interested can contact us at the event or visit our website for more information. For any type of commercial contact, you can write to Hans Peters, Chief Business Officer of Land Vegas, at hanspeters@landvegas.com.
Looking to the future, from an optimistic approach, the Metaverse offers infinite possibilities, even allowing products of different genres and modalities to be played continuously. The most skeptical ones announce difficulties in applying and controlling responsible gaming in the Metaverse, and even warn about the inevitable replacement of all employees by artificial intelligence. Based on your experience, how can you reduce these fears by explaining the benefits of this revolutionary tool?
We understand the concerns about responsible gaming and automation in the Metaverse. It is something that has generated a lot of controversy, as well as many followers. It is essential to address these issues responsibly and ethically. At Land Vegas, first and foremost, we are committed to promoting responsible gaming and implementing security and monitoring measures to protect players in the Metaverse. This is why our certification with GLI is essential to fulfill this commitment. Artificial Intelligence can also be used to identify and prevent gambling problems based on behavioral patterns, providing a safer environment. Regarding automation, we believe that technology complements humans, rather than replacing them. We are aware that we live in an era of change that drives us to be at the forefront of new technologies that benefit the user experience, something that we must not lose sight of. For this reason, at Land Vegas, we believe that artificial intelligence, put at the service of virtual experiences, can improve the player experience and provide a higher level of personalization.