Cryptocurrency
NFTs and Its Impact on Real Money Online Gambling Industry
The relevance of NFT is a hotly debated topic in the real money online casino gambling space. One side of the divide maintains that NFT is a fad riding on the back of the crypto craze. While the other believe NFTs are innovative technology and are leveraging it to increase their player base, boost revenue and improve players’ experience
Are you a real money online casino South Africa operator curious about how NFT will affect how people gamble online for real money? Or are you a player looking to know the benefits NFT lends to the real money online casino gambling world? You’ve come to the right place.
We shall explore the impact of NFTs on online gambling. Let’s dive in.
What Exactly Are NFTs?
Non-Fungible Tokens (NFT) are unique digital items designed to be rare. They run on the same technology as a cryptocurrency (blockchain) which means they are transferable. Some things represented as NFT include arts, music, books, tickets, and game assets.
Different NFTs have become famous for various reasons. Each NFT has a specific identifier. Therefore you can track each NFT and confirm who owns the original version of every NFT in real-time. However, the value of NFTs is determined by their uniqueness, rarity, cultural significance, utility, etc.
5 Impacts of NFTs on Online Gambling Real Money
The following are some ways NFTs are utilized in real money online casinos.
1. Distribution of Reward Programs
Reward distribution is an aspect of online casino real money that benefits from the NFTs. Currently, casinos require players to gamble for several hours and spend vast amounts of money betting to join the VIP club and earn loyalty rewards. While this approach works, it exposes careless players to gambling problems. The emergence of NFTs changed reward distribution in the online casino real money forever. With NFT, the real money online casino South Africa and other parts of the world can reward loyal players without risk of addiction.
The casinos can connect with loyal customers by minting limited edition NFT, which they can buy in one trade. Alternatively, online gambling real money platforms can share VIP membership NFTs for free to reward early adopters.
A practical application of NFT in online casino reward distribution can be seen in NFT projects, which gives holders membership access to casino VIP clubs. Players buy the NFT on the casino’s marketplace or a secondary market for a fixed price and start enjoying exciting cashback bonuses, free spins, and a share of the casino house edge.
2. NFT Give Players True Ownership
Many real money online casinos’ gameplay is such that players strive to claim in-game assets such as rare guns, symbols, and gems. But until now, in-game assets have always been the property of game designers and never genuinely owned by the players.
Actual asset ownership makes online real money casino games more competitive and rewarding. When in-game assets are minted as NFTs, players can transfer them across different casino games, enjoy different experiences, or even sell them to other players for profit. Incidentally, this increases website traffic and boosts the online casino real money operators’ revenue.
3. NFTs Fosters Players’ Privacy
Privacy contributes to the reason players gamble online, as we can see in the rise of no signup casino online real money, which requires only banking details to set a player’s profile. NFTs stretch players’ anonymity in online casino real money even further.
In specialized NFT casinos, a player’s profile is represented by a digital avatar. Therefore, the player doesn’t need to submit any sensitive information to play casino online for real money or to claim their winnings. A popular game where NFT serves as the player profile is Axie Infinity.
4. NFTs Creates a New Way For Operators to Raise Money
Online casino operators can use NFT to fund new projects. They will sell the NFT collection to players for a share of the casino revenue and house edge. Here are two ways online casinos can use NFT to raise money. First, operators can create NFT and use the revenue to fund their upcoming projects. In return, holders get access to the casino when it launches, occasional raffle draws, and part of the casino revenue. On the other hand, if the casino project has already launched but wants to create another revenue source, it can create NFT, which gives players ownership of a percentage of its house edge and other exclusive perks.
5. Birth of NFT Casinos and Games
The emergence of NFT has ushered in specialized online casinos where players gamble to win NFT prizes. To implement this gaming model, online casinos create games that use limited-edition NFT as prizes. Punters can participate in slots and other traditional online casino games for a chance to win NFT, which they can quickly sell for real money. Look no further than Red Tiger to see the NFT-prized game in effect. Recently, Red tiger launched a new game called NFT Megaways, which offers Cryptopunk characters as slot prizes. This is a big deal because the original Cryptopunk NFTs are one of the most expensive NFTs, and some are worth millions of dollars.
Conclusion
Many people think NFTs are not worth the hype due to the high cost and negative environmental impact. But some partnerships are already being formed to combat the problems. Regardless, NFTs are genuine innovations. They have been around for quite many years, and their use case has ballooned from social media avatars to real use cases in online subscription, music, sports, arts, and gaming.
We have highlighted the unique impacts of NFTs on online casino real gambling as it relates to operators and punters that want to play casino online for real money. NFT in online casinos can bring about a new form of online casino economy where the interest of both players and operators are aligned.
Cryptocurrency
Rainbet Launches New Crypto Casino for Both New and Experienced Players
Rainbet is excited to announce the launch of its new online crypto casino that has been expertly designed to cater to both new and experienced players. With a range of new and exciting casino games and classics, such as online slots, roulette, and blackjack, Rainbet provides an unforgettable betting experience.
Crypto casinos are online platforms where players can place bets with cryptocurrencies like Bitcoin and Ethereum. Unlike regular casinos, online crypto casinos offer instant transactions that are much faster than conventional banking methods. Rainbet uses blockchain technology to guarantee the highest security for its players and, through its combination of speed, diverse game catalog, and reliable transactions, delivers an engaging gaming platform.
With a commitment to offering the best user experience, Rainbet ensures safe online practices and a fair and transparent gaming experience for all its players. “Rainbet is a safe and legitimate platform, with games created using a provably fair system,” said a spokesperson for the online casino. “This ensures that all games are fair and transparent, reinforcing player trust and confidence in the platform.”
Whether players are searching for classic casino games, such as online slots, blackjack, baccarat, and roulette, or are interested in eSports and live sports betting, Rainbet offers a diverse selection of the latest games with industry-leading technology and graphics.
Rainbet provides a comprehensive gambling experience that places a focus on fairness and legitimacy by adhering to rigorous standards and using advanced technology. This approach is highlighted in the online casinos’ easy and hassle-free deposits that enable players to confidently deposit real money to receive Rainbet currency, as well as the platform’s seamless and secure withdrawals.
Additionally, the crypto casino boasts an extensive array of online promotions and bonuses that are available across the platform’s most popular games. Rainbet also has a weekly 10% rakeback, which rewards players by returning part of their losses, reducing losses, and extending playtime.
“Compared to online Bitcoin casinos, Rainbet has more to offer, such as more games and exclusive promotions to make gambling more exciting. With daily, weekly, and monthly bonuses, players always have something extra to look forward to. These promotions, combined with an easy-to-navigate interface and a wide range of games, make Rainbet a top choice for crypto gamblers,” furthered a spokesperson for Rainbet.
Rainbet invites both new and experienced players to visit its website today to view its full catalog of games and the latest promotions.
Cryptocurrency
Kyrrex to host online panel discussion on MiCA and the future of crypto in Europe
As the European crypto community prepares for the implementation of the MiCA, Kyrrex is organizing an online X panel to discuss the potential impact and future trajectory of the industry under this new regulatory framework.
The panel “Is MiCA that Bad? The Future of Crypto in Europe,” will take place on November 14, 2024, at 12:00 CET on X Spaces.
This event aims to offer an in-depth examination of the challenges and opportunities that MiCA presents, drawing on the expertise of industry leaders and stakeholders.
Key speakers for the discussion include Mike Romanenko and Kevin Plumpton from Kyrrex,
Tomer Warschauer Nuni from Kima Network, Andrea Zapparoli Manzoni from H4ckManac, Thanos Tsavlis from Cyberscope, and Anoop Nannra from Trugard Labs. Their insights will help attendees understand how MiCA may reshape the crypto landscape and what this means for different segments of the market.
“As MiCA ushers in a new regulatory era for the crypto industry, open discussions are crucial for navigating this transition effectively. By bringing together voices from various sectors, we aim to foster a deeper understanding and proactive approach to the opportunities and challenges ahead,” said Mike Romanenko, CVO & co-founder of Kyrrex. “Engaging in conversations like these helps ensure that the community is informed and prepared for the future of crypto in Europe.”
The panel will be structured to encourage interaction and participation, allowing attendees to submit questions and engage in a discussion with the panel. Topics are expected to include compliance, innovation, and strategies for navigating the evolving regulatory environment.
This event offers professionals, enthusiasts, and stakeholders an opportunity to gain a clearer perspective on what lies ahead as MiCA begins to take effect. It will also provide a space for dialogue and knowledge-sharing, fostering a greater understanding of the potential impacts on the crypto sector in Europe.
Panel “Is MiCA that Bad? The Future of Crypto in Europe” details:
- Date: November 14, 2024
- Time: 12:00 CET
- Platform: X Spaces
Cryptocurrency
Armchair Online BV Launches CryptoCasino.com and $CASINO Token to Disrupt Blockchain Betting
Armchair Online BV, an experienced online gaming firm, are ready to revolutionize the world of blockchain gambling with their groundbreaking CryptoCasino .com platform and $CASINO token.
Led by an experienced team that has built multiple successful iGaming operations in the world of sports betting, poker, and affiliate services, CryptoCasino will deliver an unmatched betting experience for crypto users.
A World-Class Crypto Casino
Partnering with the largest gaming studios in the world, CryptoCasino will feature over 6,000 online slots and table games, a live dealer casino, premium sportsbook, eSports betting hub, racebook, and more, all available to be bet on with 25+ of the largest cryptocurrencies in the world.
To cater to the future of crypto betting, the site will allow for both traditional registration and Web3 connectivity. By connecting instantly with wallets such as MetaMask or Trust Wallet, players can seamlessly deposit and withdraw funds within seconds.
With a player-first focus, the site also includes 24/7 live chat support and an industry leading VIP program that offers a wide range of loyalty incentives that reward players on a daily basis.
Set to Be the World’s #1 Telegram Casino
CryptoCasino is catering to the over one billion unique Telegram users by building a Telegram Casino integration that allows anybody to immediately join and begin playing with just one click.
With Telegram gaming growing rapidly, CryptoCasino’s integration with the platform will offer a direct connection to millions of players around the world. The integration will provide the perfect blend of security, seamless connectivity, and social gaming that can rapidly grow into one of the best domains in online gaming today.
The $CASINO Token Offers Benefits to Holders and Players
To complement the launch of the CryptoCasino betting platform, the business is also launching an ERC20 token called $CASINO that will serve as the basis of the ecosystem.
With the $CASINO token sale launching October 15 at token .cryptocasino .com, buyers will be able to purchase their tokens directly from the secure Web3 sale site by connecting their wallets.
There are several benefits to buying and holding $CASINO tokens.
Buy Back and Burn: Each month, 50% of the net profits from CryptoCasino will be used to purchase $CASINO tokens from the open market. They will then be burned, decreasing supply and creating scarcity for the token.
Staking Rewards: Holders will be able to stake their $CASINO tokens each month for an APY up to 10%, allowing them to gain a passive income stream directly through the staking platform found on the site.
Exclusive Player Bonuses and Airdrops: Holders will be able to use their $CASINO tokens on the CryptoCasino platform to receive incentives such as a 200% deposit bonus, 15% cashback on bets made, and much more.
Partnerships with the Best in the Industry
Having grown several iGaming businesses over the past two decades, the CryptoCasino team understands that the key to rapid growth comes from partnerships with trusted names in the online gaming business.
That is why CryptoCasino has partnered with several major names in betting and blockchain including Pragmatic Play, Evolution Gaming, Betby, Oddin.gg, Decubate, Covey, Fireblocks, and others.
As a fully licensed platform under Curacao and Anjouan gaming authorities, the platform will provide the highest level of player safety and security, complying with all regulatory statutes for the best crypto betting experience possible.
$CASINO Token Sale and CryptoCasino Platform Launching Soon
The $CASINO token sale will begin on October 15, with a special VIP round available to those using a password that can be found on the social channels found below. Unrestricted access will be available to all on October 17.
The CryptoCasino .com platform will be launching on November 19th for both the online and Telegram casinos.
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