Is VR the Future of Gaming or an Oversold Ambition?

The allure of virtual reality (VR) gaming has been a tantalizing prospect for many years, one that promises the kind of highly sensory experience that makes console-based play look quaint. Alas, the ambition to deliver such experiences has often been greater than the pace of technological change. But with recent advancements in wearable technology, the dream – propelled by hype around metaverses, VR headsets, and decentralized blockchains – has been resurrected.

It’s impossible to deny the revolutionary potential not only of VR but also AR (Augmented Reality), MR (Mixed Reality, a blend of the two) and web3 tech like smart contracts, NFTs and Decentralized Autonomous Organizations (DAOs). While there’s a somewhat steep learning curve awaiting those hoping to gain mastery of all of the above, the convergence of such technologies should deliver an immersive experience like no other.

Focusing on VR specifically though, perhaps the ambition has been oversold. For all the promise of wearable and motion-sensing tech, challenges remain. In fact, there’s a danger that VR hysteria casts a shadow on elements that are just as valuable to gamers.

VR Gaming: Dare to Dream

The VR gaming dream is simple: imagine stepping into the shoes of your favorite character, interacting with a believable 3D environment in imaginative ways, and communicating with fellow players and NPCs as if in real-life. In short, VR offers a level of immersion that cannot be matched by conventional gaming setups.

The ability to physically move, reach, and manipulate objects within a game world adds an extra layer of engagement and realism, and big tech firms recognize the appeal: last year, Apple unveiled the Vision Pro, its first foray into this fast-growing space. At an insanely pricey $3,499, the mixed-reality headset is easily the most expensive mainstream headset to hit the market. The company calls it a “spatial computer.”

But gaming was not the focus of Apple’s Vision Pro launch: in fact, gaming was only briefly mentioned, with the emphasis instead on the ability to “create an infinite canvas for apps that scales beyond the boundaries of a traditional display.”

Although the Vision Pro featured over 100 Apple Arcade games at launch, they weren’t the kind of titles intended to satisfy hardcore gamers. Moreover, the device attracted criticism due to its modest one-meter spatial limit, which means the headset switches to transparent mode if you move beyond that boundary. Despite up to 500,000 units being sold, one poll suggests the return rate was around 45%.

Perhaps the technology isn’t quite at the level required to deliver on the lofty expectations of players. Or maybe we just need to wait a few more years, until the creativity of game developers and the ingenuity of technologies syncs up perfectly.

Metaverse Realities and Misconceptions

You can’t discuss VR gaming without mentioning the metaverse, a term used to describe a future iteration of the internet represented by a universal virtual world. But the truth is, not every VR game is a metaverse – and vice versa. 

The metaverse is a vast digital realm of interconnected experiences, a place where virtual worlds, digital art, cryptocurrency, AI, and NFTs converge to create a mesmeric tapestry.

Although the concept of a spatially built-out 3D metaverse has captured the collective imagination, the reality on the ground paints a different picture. VR has not yet advanced enough to deliver the sprawling metaverse that was originally envisioned. The cost, accessibility, and practical limitations of VR equipment means that 99% of today’s metaverse population still accesses the space via web browsers, tablets, or mobile devices.

Contrary to popular belief, the metaverse isn’t solely defined by VR. Instead, it’s a mosaic of diverse digital endeavors. Industry players Roblox and Unreal prioritize a more traditional 2D display while incorporating 3D graphics, yet this approach doesn’t hinder their status as major metaverse players.

Sci-fi author Neal Stephenson, who coined the term metaverse in 1992, said it best: “2D interfaces remain the most accessible and natural way to access the metaverse.”

The True Pillars of Gaming Success

Perhaps VR can be both the future of gaming and an oversold ambition – since that future is quite some way along the road. But while the industry grapples with the question of whether VR will redefine gaming, the prerequisites for a hit video game or metaverse haven't changed. Replayability, engrossing storytelling, and above all the ability to offer players genuine engagement and enjoyment remain paramount.

Web3 technologies have already made a more significant impact on gaming than VR. NFTs, for example, have breathed life into the concept of asset ownership, enhancing player agency and value retention.

Prior to the appearance of NFTs in games, players couldn’t provably own the items (weapons, skins, avatars, etc) they accrued. But in recent years we have seen a thriving market blossom, with players trading tokenized in-game commodities for other NFTs as well as cryptocurrency. NFTs are earned through gameplay and dispensed as rewards, with the hope that all such tokens will eventually be interoperable across the entire gaming landscape.

By providing players with tangible rewards for their achievements, NFTs have an inherent merit that does not depend on market factors. The emergence of decentralized guilds and DAOs, meanwhile, have empowered players to band together and maximize time spent in a game. 

While the VR gaming dream occupies a spot on the horizon, all of the above is happening right now.

A Convergence of Technologies

In the end, the evolution of gaming depends on a complex convergence of technologies and ideas. While VR’s promise of complete immersion is enthralling, it’s only one piece of the puzzle. The future of gaming might find itself shaped more by the integration of web3 technologies, which offer a novel new dimension of ownership, interactivity, and governance.

In this intricate interplay, the metaverse won’t hinge on the accessibility of VR headsets. Instead, it will be the cumulative outcome of diverse digital activities, coalescing to redefine how we engage, interact, and create within virtual spaces.