Over the past year, NFTs have exploded!
Is it just a fad? Think again. These non-fungible tokens are creeping into industries left right and center be it music, arts, movies, or gaming to name a few. And, as always, the online gambling sector took notice.
Whether through entire casino platforms or limited series collectibles, NFTs will become a massive part of how we gamble in the very new future.
So, let’s chat about what’s already here and what (I believe) is still to come…
But let’s recap first!
What are Online Casino NFTs?
NFTs are digital assets that are not interchangeable. They are unique and unlike cryptocurrencies that are identical – one Dogecoin is the same as the other. NFTs can represent anything, from in-game items to digital art.
And, the NFT market is bursting out the seams.
And, it’s estimated that the value of the NFT market is worth a mighty $3 billion.
I’m sure you are thinking – Yes, sure, this is probably speculation from gurus on social media promising you that you’ll get stinking rich by buying Bored Apes, Crypto Punks, or any jpg they can possibly sell you.
And, yes, I get what you’re saying because most of the interest around NFTs up until now has been from investors and traders but there are hundreds of practical applications for NFTs. It is not for digital art alone but for any type of ownership….
Like land in the Metaverse, concert tickets, or a character for play-to-earn casino games.
Now we’re talking!
A few crypto casinos have already noticed the versatility of NFTs and have incorporated them into their platform.
But How Do Casinos Utilize NFT Technology?
Some Casinos, like BC.GAME allows you to deposit your NFTs and bet with them and although this is still happening on a small scale, I’m pretty sure it will become more and more popular.
Access Passes to Online Casinos
NFTs can be used as access passes to a group of online casinos which is already seen in the Degenpass project that is backed by BC.GAME.
This pass is like a VIP card for all the Degenverse casinos and requires you to get a special NFT wearable to partake in games. If you don’t have this, you’ll be able to walk through the casinos in Decentraland to explore, but you won’t be able to participate in any of the games.
This pass also gives you unique perks, like special bonuses, and the chance to win member-only jackpots.
Loyalty Club Rewards
You’ll find a Loyalty Club at almost all casinos. We are all accustomed to the jingle – the more you play, the higher your rewards – but these programs are not really as efficient as they can be.
What if casinos created an NFT for every status level?
When players reach a higher level, they can receive a more valuable NFT that can give them access to bonuses, discounts, lottery tickets, or access to exclusive tournaments.
The possibilities are endless!
Unique Casino Merchandise
Unique merchandise in digital form? Just think about it.
Casinos can use NFTs that can be placed on a virtual item, like a badge in player chats or as a display in a player’s collection.
King Billy Casino jumped on the bandwagon last year and created a limited edition 2021 artwork collection for sale on OpenSea.
And, although I’m not sure that this is the way to go, they are at least dipping their toes in the market which makes me think that they’ll soon incorporate NFTs somewhere on their platform.
BC.GAME – The NFT Ambassador
BC.GAME is undoubtedly the most innovative crypto casino out there. They are constantly committed to growth which can be seen in every aspect of their operation.
And, their latest NFT endeavor is no different.
It kicks off with the Degenpass, which is a collection of 1777 genesis passes on the Ethereum blockchain that gives pass holders access to unique and exclusive perks such as tournaments with massive prize pools, airdrops, and early access to their latest project – the upcoming DeFi betting app.
What makes it even more exciting is that it doesn’t end at BC.GAME. Degenpass holders will have access to all the partnered casinos and all the features, including these casino’s upcoming NFTs.
Watch this space!