NFTS IN IGAMING
traditional betting experience with popular slots, blackjack, roulette, and baccarat with added benefits of purchasing an NFT. NFT owners will receive a share of the casino’s revenue each month, expert tips, physical collectibles, and access to VIP events. Since launching in 2021, the casino has seen almost $2 million deposited and generated $560,000 in revenue in the US. Rollbots are digital collectibles which function as a personalised VIP membership card. Owning a Rollbot NFT grants users access to a range of gaming options including slot machines and table games, an exclusive Rollbot lottery, and a rewards programme where users can get an increased rate of rakeback for their Rollbot casino and trading account. Rollboxers also allows holders to create their own mini-casino game where they can put up NFTs that they own as prizes and earn a share of the revenue generated. In late 2021, the Slotie NFT, developed by Elia Software, was released onto the market. The Slotie game is composed of a set of 10,000 NFTs, each Slotie NFT is unique with varying degrees of rarity. Unlike other NFTs with only superficial rarity, the rarity of the Slotie will determine the users’ access to benefits from the 150 partner casinos in the Exclusive Holders Rewards. The rarer the Slotie, the more rewards it will generate. Evolution’s casino games and software brand, Red Tiger released a slot with a NFT-theme in September 2021. NFT Megaways has incorporated Crypto Punks as WILD symbols that land on the Crypto Punks Bar, leading to a win with low-paying symbols. This causes the Crypto Punk’s multiplier to increase by 1x for each low-paying symbol collected. Todd Haushalter, Evolution’s chief product officer, said: “Evolution is in a unique position to contribute to the crypto-community by taking the first NFT on Ethereum and featuring it in the world’s first NFT-based slot. One of the open questions in this community is how to display your NFTs and we thought this was a really fun way to do that, where there’s a chance for lots of players to admire them and also to interact with them
in a completely new way! We are honoured to now be part of the crypto-asset history.”
SIGNIFICANT RISE
As NFTs have been introduced into the iGaming space, the number of NFT collections launched has risen significantly. David Bartram, B2B iGaming marketing specialist, said: “NFT collections right now are succeeding or failing based on two main factors: brand and community. I expect a third element to become increasingly important in this equation over time: utility. Right now, NFTs are a fashion accessory to most. But there are all sorts of interesting projects where the NFT has an actual use.” An example of this is
CBC.Network’s Baboon Brigade which features collectible NFTs with original artwork. Casinos generally have odds stacked in their favour with a low probability of player wins, however NFT owners have access to daily free-to-play tournament games to win cryptocurrency prizes and even if the player loses the game, they will not lose their Baboon Brigade NFT. Another example is Flamingo club which is an NFT virtual gaming project that launched in January 2022. Examples of games available on Flamingo include blackjack, roulette, and mini-baccarat, and every NFT holder will get a share of the profits generated in the Flamino gaming club. Flamingo NFT holders will also have the opportunity to participate in draws to win prizes. As with Baboon Brigade, Flamingo club tackles the issues around fairness in iGaming as the player is set to make returns on their investment from the share of profits made by the club.
NFTs currently only function as a niche offering, and the long-term impact of NFTs on the online gambling industry is still too early to tell. However, NFTs show a great potential to enhance the way operators engage with their players. The rising popularity of NFT collections and the integration of NFTs into the operator’s product offering is setting the tone for future developments.
NFT
collections right now are
succeeding or failing based on two main
factors: brand and community. I expect a third element to become
increasingly important in this equation over
time: utility – David Bartram
GIO APRIL 2022 7
Ascannio/Adobe Stock
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