NFT Casino: the Gaming World of the Future
Today, in most commercial niches, global digitalisation is taking place. The gambling market is no exception in this regard. Moreover, it has also demonstrated the most extensive potential to create unique digital worlds — casino Metaverses.
What is a virtual gambling universe, how is it related to blockchain technologies, and how do NFT casinos differ from classic slot machines? The Online Casino Market team of experts will answer all these questions.
From this article, you will be able to learn about:
- the concept of non-fungible tokens and the digital casino universe;
- perspectives and advantages of games based on decentralised technologies;
- nuances of NFT solutions.
The idea of NFT casinos and virtual gambling locations in the “open world” format is deep and complex.
Despite the limited technical capabilities, the creation of a global digital universe is one of the most promising directions in the IT industry and many other sectors. Already, many network users believe that the gambling Metaverse is the most likely type of Internet of the future.
An essential element of the global digital world is NFTs, which stands for “non-fungible tokens”.
An NFT is a unique digital solution (most often a short video or image) whose value is registered and verified by a blockchain.
To understand its concept, the analogy with art objects is most often used. For example, an artist has drawn a picture that can be copied countless times but only one person owns the original.
The flexibility of NFT technology allows operators to use it in many different ways:
- Presentation of copyright. NFT elements can be used as a new product line, an advertisement for unique video slots, VR content, and other products.
- Popularisation of the gambling brand. With the help of described technology, it is possible to promote a provider of casino services. This is a great chance to increase brand awareness while maintaining exclusive copyright for the logo and other elements of the design of a gambling platform.
- Unique visualisation. Non-fungible tokens can be used as exclusive user avatars and other parts of graphic design, such as the logo of a new solution or an entire section of the website.
- Reference currency. The NFT is based on an independent digital blockchain program. Each digital element has a fixed value, so it can be used to make transactions along with fiat money and online transfers.
- Guarantee of provable honesty. The introduction of NFTs significantly increases the level of security of the session. Non-fungible tokens are based on decentralisation technologies and guarantee absolute transparency and honesty of the outcome of the game. Anyone can check the history of payments.
- Elements of the bonus program. A unique digital component can motivate the audience to resume and extend sessions. For example, users can be offered to exchange tokens for additional game options (free spins, multipliers, etc.) absolutely for free, use NFT as bonus currency, participate in private events, and much more.
Despite the wide variability in the use of non-fungible tokens, the basic principles of operation will be almost the same as those of traditional websites with slot machines.
NFT casinos have the same components as standard online casinos:
- user accounts;
- rating tables;
- gaming deposits;
- bonus and referral programs;
- permanent and seasonal promotions;
- cashback programs, etc.
Since independent tokens are based on decentralised blockchain technology, these software products have excellent prospects and many benefits for online casinos.
Among the advantages of the solution, we can name the following:
- Security. NFT components are a guarantee of absolute transparency of all gaming stages. The registry of each block can be checked at any time during the session, so slots with tokens are the safest in terms of financial protection.
- Reliability of payments. All stages of the operation are recorded and placed in the special cloud storage, available only for viewing. It is not possible to make adjustments to a closed block. The system is fully automated and eliminates errors associated with the human factor.
- Lack of control. Each NFT product has an owner but the system is not controlled by any authority or regulator. Decentralisation of software components allows entrepreneurs to expand the audience and promote their services in international markets.
- Unique bonuses. The flexibility and variability in the use of technology allow business owners to create unique marketing offers. For example, with the help of independent tokens, it is possible to increase the market value of the brand by selling NFT elements to users in the form of company shares.
- Privacy. The program includes an innovative Dapp technology that replaces personal information with a random set of ones and zeros. The encrypted data packet cannot be modified, falsified, deleted from the registry, or decrypted.
- Improved visualisation. NFT slots differ from standard games for money with unique graphical effects, such as short video inserts, exclusive soundtracks, and extremely realistic VR components.
In the context of the gaming Metaverse, independent tokens perform the following tasks:
- form unique digital assets;
- fix the exclusive ownership of the digital product and its transfer to third parties;
- help to create a 3D reality with the effect of total immersion.
According to a study carried out by IZEA Worldwide, 70% of influencers believe that an NFT-based gaming Metaverse will be able to cover all existing social networks in the near future.
It is expected that by 2026, the value of the global casino universe will reach 758.6 billion dollars.
Speaking about the prospects of the technology, the most likely version is the creation of a complete analogue of the largest existing land-based casinos in virtual space. But the flexibility of decentralised services, together with advanced VR technologies, are already making it possible to go far beyond simple copying of offline objects and moving them to a digital environment.
The most successful developers in the niche have already presented the first versions of NFT slots and turnkey casinos, and in the future, we can expect the creation of completely new locations that have no analogues. It is likely that users will be able to walk around the underwater world and play a game of poker with a multi-handed octopus croupier or visit a casino on board an alien spaceship.
One of the most promising industry directions is the maximum increase in the level of physical involvement of players. In the future, the ability to achieve the effect of complete immersion could become a key difference from traditional live games.
Today, broadcasts of global sports events are extremely in-demand. With the help of Metaverse technologies, anyone can take the best place in the largest stadiums in the world without leaving the sofa. It will be enough just to put on a special headset.
Slot games, video poker, and other NFT content based on a random number generator have the same operating principle. For the end consumer, the mechanics of the session will be indistinguishable from any other casino offers.
The main distinctive features of developments that are based on decentralised technologies are the procedures for processing, registering, and storing streaming content.
The principle of work of an NFT slot
Formation of the game sequence
The built-in RNG determines the order in which combinations will appear on the screen, as well as the frequency of launch of bonuses, the multiplier level, etc.
The program is automated and excludes the human factor
Transfer and storage of information
All data about the winning combo is automatically transferred to remote cloud storage.
It is impossible to interrupt, falsify, or delete the code because any changes are instantly fixed and blocked by the system
The RNG data is transferred to the storage in an encrypted form. The source code can only be obtained upon completion of the game operation. To do this, users need to enter a special password into the system.
It is impossible to decrypt the code hidden in the blockchain
After the session ends, players can compare the history of the combinations that have appeared on the screen with the code transferred to the cloud storage.
To obtain this information, a unique key-password is required, which cannot be forged
Decentralised technology makes an online casino an intermediary between the user and the game. Operators do not have access to winnings generation processes, financial assets, and even information provided by their customers, which makes NFT platforms the most honest and safe form of betting.
The use of the above-mentioned tokens and products based on independent assets is one of the most promising segments of the iGaming industry.
Combined with VR tools, blockchain services are the basis of the global virtual universe.
- NFT components are flexible and have a wide range of applications. Non-fungible tokens can be used as a way to promote the operator's brand, means of payment, game artifacts, part of a bonus, affiliate program, etc.
- Decentralised technologies significantly increase the security of the gaming site. Casino owners do not have access to the personal information and financial assets of their customers, acting only as an intermediary between users and the gambling product. All transactions made during the session can be checked thanks to independent external services.
- NFT technology has great prospects in terms of improvement of content visualisation. Using blockchain tools, it is possible to implement video and graphic elements, unique soundtracks, and VR components into games. Non-fungible tokens can also be used as an exclusive avatar of a gambler.
You can learn more about the nuances of using NFTs and order the development of a blockchain-based casino project by turning to the Online Casino Market studio.
We constantly monitor all market changes and are always aware of the latest trends. From us, you can purchase the following next-generation gambling products:
- mobile casino platforms;
- social games;
- slots with 3D and VR effects;
- Telegram casino;
- instruments for cryptocurrency payments;
- live content from the best providers, and much more.
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