Digital assets are penetrating many business areas, and the gambling industry is no exception. Slot machines and casino platforms are becoming more common, and the world’s leading IT companies have announced the creation of a gaming Metaverse based on NFTs.
In this article, experts of the Rosloto studio will tell you about the above-mentioned modern technology and its application in the iGaming industry.
The concept means an individual cryptographic digital asset. It is created on the basis of Blockchain, which ensures security and decentralised operation of the solution.
The NFT is presented in the form of a digital certificate. A virtual document confirms the ownership of various virtual objects: art, films, soundtracks, gifs, and tweets.
In the iGaming industry, these are:
The key feature of NFTs is their authenticity, that is, their existence in the digital world only in a single copy. Such objects can be created, sold, or exchanged. A line of program code with information about the new owner of the token appears in the “eternal” IPFS registry immediately after the transaction is completed.
NFTs can be compared to intellectual property in the real world. Initially, they were created as an important component of such a cryptocurrency as Ethereum. Over time, the tokens have transformed into completely independent solutions.
For NFTs and Ethereum, the same encryption algorithms are applied:
Today, many companies are investing in the development and promotion of iGaming projects with NFT elements.
A gaming site with non-fungible tokens is a modern and multitasking product with the best games from licensed providers.
The functionality of the platform is not much different from traditional online casinos:
Key components of a casino of this type:
On gaming sites with Blockchain technology, NFTs are used as units of account along with fiat money (US dollars, euros) and various types of cryptocurrency.
Vendors of the financial software recommend that operators install 2 payment modules:
Modern payment gateways are available along with a useful currency converter. The program conducts fast exchange operations at a loyal rate
Licensed operators use KYC for the verification of the identity of players. It increases the level of security of gambling platforms and the credibility of customers.
The identification procedure is launched every time a user enters an NFT casino, withdraws earned funds, or makes transfers with non-fungible tokens
Entrepreneurs integrate NFT assets into the bonus program as:
The introduction of non-fungible tokens into the loyalty system attracts new visitors to the website and increases the loyalty of regular customers
The main reasons why entrepreneurs should order a casino that works with digital assets:
A gaming site with non-fungible tokens is a legitimate gambling resource.
NFT operations are equated with cryptocurrency transactions that are legalised in the following prestigious jurisdictions:
The circulation of digital currency is also legalised in the USA, Spain, Sweden, and other European and Asian countries. The main requirement for operators is to declare income on time (in dollar equivalent as of the date of generation of revenue) and pay taxes following the fiscal policy of the chosen jurisdiction.
One of the first licensed casinos to implement NFTs was the Rollbit project. The gambling resource works with the permit issued by the Curacao Gambling Commission and the Rollbots collection. The line of proprietary solutions consists of more than 10 thousand unique NFT robots generated using the ERC-721 cryptographic algorithm.
A game with non-fungible tokens is an original development based on a decentralised application, DApp.
Blockchain technology, which is responsible for the high speed of request processing (launch of the game, appearance of bonus features, calculation of prize money) and the complete security of the solution, is considered the foundation of the product.
Key characteristics of entertainment with non-fungible tokens:
The NFT collection contains a wide variety of content: from traditional slot machines to multiplayer fishing and action games.
P2E (Play to Earn) entertainment, puzzles, and skill games are especially popular
Provable honesty of the outcome
Modules of the DApp game are distributed across several cloud storages, providing them with 100% protection against manipulation and rigging of the results of the session
NFT assets are used as unique artistic elements: background screensavers, gifs, and 3D images of the main characters.
The more exclusive features a game has, the more players it attracts
Connection to various bonuses
Special options (risk rounds, free spins) can be implemented both in the entertainment itself and integrated from outside.
NFT content is often connected to seasonal promotions, multiplayer tournaments, and achievement races
The algorithm for the functioning of slot machines and table games with non-fungible tokens:
In P2E and action content, as well as in multiplayer solutions, in addition to RNG, a game strategy is used. Gamblers rely not only on luck but also on logical thinking.
The concept means a network of virtual worlds focused on social interaction.
By 2030, experts promise to present a global digital universe, access to which will be available to every internet user. So far, the idea of the Metaverse is being developed by such top IT companies as Google, Apple, Meta, and others.
Among the developers of the virtual world, there are also iGaming providers. Thus, Entain, the largest British betting operator, invested more than 133 million dollars in the NFT industry. The company announced the launch of Ennovate, a global innovation hub the headquarters of which is located in London.
The main goals of the project:
The described certificates confirm ownership of virtual objects. These can be slot machines, bonuses, gift certificates, and other unique assets.
You can learn about a profitable NFT casino at the Rosloto studio. We are ready to implement solutions of any level of complexity: from traditional turnkey platforms to modern websites for binary options trading.
Rosloto experts provide the following useful gambling services:
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