Bitcoin, crypto, NFT… All these terms sounds modern and innovative, but when it comes to a real life and player’s choice – it’s hard to call it an easy deal. Player’s being frustrated with all these technologies, and most of them still prefer the old-school online casinos, with usual deposit and withdrawal methods.
Let’s try to figure out, what is the NFT Casinos and why they might become popular in nearest future.
NFT+Casino. Does this mean NFT Casino?
Let’s try to separate eggs into buckets, and figure out what these two terms actually mean.
Non-Fungible Tokens (NFTs)
NFTs are a type of digital asset that represent ownership of a unique item or piece of content on the blockchain. Unlike cryptocurrencies such as Bitcoin or Ethereum, which are fungible and can be exchanged on a one-for-one basis, NFTs are unique and can’t be exchanged on a like-for-like basis. They have become particularly popular for representing digital art, collectibles, and other digital goods.
Online casinos allow users to play and wager on casino games through the internet. They typically offer games like slots, blackjack, roulette, and poker, among others.
Let’s cook them together! What are NTF Online Casinos?
When we talk about NFT casinos, we are referring to online gambling platforms that integrate the concept of NFTs. Here’s how:
- Unique Digital Assets: Players can own, buy, sell, or trade unique in-game items, cards, or avatars as NFTs. For instance, a special roulette wheel, a limited-edition slot machine skin, or a unique avatar that can be used in a poker game.
- Provably Fair Games: The transparency and immutability of blockchain technology can be used to ensure games are provably fair. Players can verify that the outcome of a game was not tampered with.
- Staking & Rewards: Some NFT casinos might allow users to stake their NFTs to earn rewards or use them in specific games.
- Interoperability: One of the advantages of NFTs is their potential for interoperability between different platforms. This means that a unique item acquired in one game or platform could potentially be used in another.
- Gamified Experience: NFT casinos can offer a more immersive and gamified experience. Players could complete missions, acquire rare NFTs, or participate in unique story-driven experiences.
However, it’s essential to approach NFT casinos with caution:
- Regulation: The integration of NFTs and blockchain into the gambling space can pose regulatory challenges. Different jurisdictions have different regulations concerning online gambling, and the addition of blockchain and NFTs can complicate matters.
- Investment Risks: NFT values can be volatile. Just like any other form of gambling, it’s essential to play responsibly and not invest more than you’re willing to lose.
- Tech Challenges: Storing and managing NFTs requires a certain level of technical understanding, especially when it comes to handling private keys and understanding blockchain transactions.
In summary, NFT casinos are a blend of traditional online gambling and the emerging world of blockchain and NFTs, offering players unique opportunities but also posing certain challenges and risks.
Latest news about NFT Casinos in a market
NFT casino game provider, Aviatrix, has entered the Georgian market after receiving certification to offer its crash game there. This move aligns with Aviatrix’s objective to penetrate regulated markets globally.
Aviatrix’s COO, Anton Yarash, highlighted the rapid popularity of their game, noting it achieved this growth in under a year. He also mentioned a collaboration with Slotegrator to introduce Aviatrix to Georgian operators. The Georgian market is attracting online gaming firms, with companies like CT Interactive and 7777 Gaming also recently entering the region. Aviatrix’s expansion into Georgia reflects a larger trend of gaming companies tapping into the potential of emerging markets, especially those focusing on crash-style games and NFT elements.
We are achieving this in less than a year since first launching, which shows just how quickly the game has gained popularity. We’re also excited to partner with Slotegrator to bring Aviatrix to operators in Georgia.Aviatrix’s COO, Anton Yarash
Read more about NFT Crash game: https://www.aviatrix.bet
So, let’s see what this come to. The popularity of Crash games and other innovative slots can’t be ignored anymore, but, as usual, when it comes to innovations – a regulations start their game. Our prediction – that will be a tough challenge to any game provider or casino platform who will decide to step into NFT Casino game on any regulated market.