With the metaverse and blockchain very much underway when it comes to the online casino industry, many are questioning whether this will be a sustainable addition or if eventually, it will fade out from public interest. That is what we are here to discuss. Believe it or not, blockchain and the metaverse are still very much misunderstood, meaning its full potential and evolution is still yet to be discovered.
While many online industries and the iGaming industry are running to the finish line to try and make it happen, multiple initiatives are taking shape and form as we speak. Newcasinosuk.com is one of the prominent facilities in the gambling market that allow customers to seek all the latest blockchain technology advancements in gambling, so make sure to head on over if you want to stay with the crypto-times. In the meantime, our perspectives of where NFTs can go where online casinos are concerned, are listed down below.
How can NFTs be used in online gambling?
NFTs can be used in multiple ways. However, before clarifying those, it is important to clear out any misconceptions that many have in regard to the unique digital token system. Online gambling wins cannot be paid in NFTs, that just will not happen. However, what can be done is a payment of cryptocurrency, by casinos which has evolved towards blockchain technology. Currencies such as Ethereum, Bitcoin, and Litecoin are the most commonly used digital currencies within the cryptocurrency network.
Some online casinos as of now, are using NFTs as VIP tickets, within their loyalty scheme. Players who have purchased NFTs from the online casino will have access to exclusive goodies and features that are off-limits to everyone else within the casino’s community. Depending on the rarity of your purchase, this could give you access to rare casino game lobbies, in addition to prizes and functions for the elite only. Hey, even some casinos have made rare NFTs created by themselves up for grabs in raffle draws, meaning lucky gamblers registered with the site could be selected to have rare NFTs from gambling brands.
While these initiatives are very specific, we can see most online casinos going forward with these methods, to engage customers and of course, make more sale turnovers collectively. There are even talks of the possibility of NFT slot games and NFT loot boxes being the future of casino gaming. Even though these are yet to be created, with Web 3.0 very much underway, it would make sense that this step really is not too far ahead.
Rollbots and Rollbits
In the NFT world, not only are these developments happening at lightning speeds, new projects are coming forward with art creators getting involved. The Rollbar platform has recently created its own collection of NFTs, with the graphics and artwork being superiorly ahead of its time.
With a function VIP scheme, and multiple gaming options on the blockchain system, players can get funded by gaming on these games, to gear towards NFT purchases. Accessibility to rare NFTs is based on game time and winnings, and thus far this initiative has pushed sales through the roof, as gamblers are always keyed in, wanting to elevate their next steps faster each time.
While each casino is certainly moving its initiatives slowly and in good time, it is still too early to tell if all online casinos will use similar strategies or not. It is obvious though that the frontiers of the online casino industry are excited and gearing to go with introducing NFT schemes to their gambling community, while others are still on the fence about it. For sure we will be seeing NFT schemes introduced and fed into our user experiences online, whether it be high roller loyalty schemes, game assets, or rewards, NFTs are here to stay!