As the pfp craze of the summer died down with the NFT bear market, buyers started to look for NFTs that gave utility. This has progressed from token generation to game integration, to partial ownership of NFT casinos.
Some things to note for our presale:
→ Minting opens at 9PM UTC → Maximum of 2 Sherbet NFTs per wallet → NFTs reveal 24 hours after our public sale → Minting will take place on https://t.co/AqiFGHtbjF → Official links are in our bio and Discord
NFT casinos have begun to gain popularity in the community. With Sherbert selling out in minutes yesterday, the NFT community seems to see value in the gambling/NFT intersection.
But What Does This Intersection Look Like for Holders?
With new options popping up daily, what does this ownership look like for buyers? Web3 is a hotbed for creativity, and the Metaverse casinos are no exception. All with some sort of NFT access, some even allow users to stake tokens for shares of the casino.
Decentral.Games, Decentraland‘s P2E casino, for example, allows holders to stake the in-game $DG token. What does staking the token get you? This gives you decision-making power in the casino – plus $DG rewards. Stake $DG to get treasury governance, add proposals and earn up to 40% APY. Users can passively early $DG tokens by just participating in the casino as well! Users can wager:
In the $DG Metaverse, users can buy ICE wearables. These stylish NFT avatar clothing pieces give the owners a share of player winnings. The owners can delegate their pieces to players wishing to take part in the ICE poker games, giving the owner a split of their delegates’ winnings.
On the other hand, we are starting to see other NFT casinos surface. These projects split the casino games into a DAO, giving profits back to the members of the DAO.
Sloties, minting soon, are taking a new approach to traditional casino games. Instead of cash, players stake NFTs. Slotie owners are able to stake NFTs to casino games and add liquidity to the NFT rewards the casino players are able to win. If they lose their NFT, an algorithm calculates the value and distributes it to the Slotie holder. Holders also passively receive 80% of revenue from the platform’s 150+ casino games set to release next year.
The top performing NFTs today have 3 things:
1 – passive income for holders with a unique token 2 – web3 and play to earn capabilities 3 – breeding NFTs for more NFTs
Similarly, Gambling Apes plans to open a casino in the Metaverse that will distribute 70% of revenue to NFT holders.
How do They Ensure Provably Fairness?
Provably fairness is the process that ensures that the games are fair to everyone, and most importantly, auditable by anyone. Anyone in the world can verify the fairness of each game, and no third party is needed to verify each game.
How are these games providing this to their users?
Companies such as Invariant Labs create gaming products on the Ethereum network. These games can be audited by anyone to check the fairness of each individual game and the validity of any transaction.
Creating casino games on the blockchain allows for complete transparency in the process. Compare this to the traditional casino process, where trust is blindly given and games are not audited by the community.
Should I Buy a Casino NFT?
This is a very under-explored section of the NFT market at the moment. These collections seem to be severely undervalued at this moment. The current floor price for:
Bear cycles are inevitable in the crypto market. As token prices drop, what becomes more enticing? Gambling of these tokens. Being able to hold a piece of these casinos and see passive revenue through the worst times of the market is a smart strategy heading into the eventual bear market. Seriously, look at these projects for your wallet. Passive income is becoming all the rage in the NFT space. No industry makes passive income, online or IRL, quite like the gaming and lottery industry. As we see money transition from traditional Web2 gambling to Web3, get a piece of the action with one of these NFTs.
Something to consider: Remember always to do your research, make your own decisions, and invest in projects that interest you!
Follow our new Altcoin Buzz Public NFT Wallet to keep an eye on collections we’re buying, selling, and holding! Use this as a jumping-off point for your research.