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Understanding NFTs and where to play in 2023

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Learn more about the popularity of NFTs and how they can be used in online casinos like Metaspins, Wagmi and Rollbit.

Over the past few years, many technological changes have been noted within the online gaming industry. One of the biggest has been an increased interest in cryptocurrency iGaming, including Bitcoin casinos, and, more recently, non-fungible tokens (NFTs).

NFT technology has quickly taken the industry by storm, with more online casinos working towards adding NFTs to their site. What started as a meme has developed into something more, and today, you can find NFTs as a part of the iGaming industry, used in more ways than one.

The benefits of NFT technology for the industry

There are many great uses for NFT technology within the iGaming industry, which include being able to use NFTs as in-game tokens while also being able to use them to make deposits or claim them as a reward. There are several casinos that have already moved towards utilising NFTs, such as BC.Game Casino.

Like crypto, it is powered by blockchain technology, making it decentralised and accessible from anywhere at any time. You can enjoy provably fair games, a higher level of transparency and the option of getting directly involved with the business.

One more function of NFTs in iGaming is to grant access to casinos, such as in the metaverse, or membership in loyalty or VIP programs with special bonuses, tournaments, or jackpots. This function is also a good tool in terms of security — it can assist in self-exclusion or help to block access for minors.

There is even speculation that the EU is planning on finding a way to regulate NFTs in the same way as with cryptocurrencies. With the main concern being fraud, money laundering and other criminal activities.

Recently, the parliament’s Treasury committee has recommended that the UK government should regulate cryptocurrency trading as a form of gambling rather than a financial business following a new research into the sector.

“Effective regulation is clearly needed to protect consumers from harm, as well as to support productive innovation in the UK’s financial services industry,” said Harriett Baldwin - the Conservative MP and Treasury committee chair.

“By betting on these unbacked ‘tokens’, consumers should be aware that all their money could be lost.”

A world of opportunities

It’s thanks to full Web3 integration that players today can enjoy the benefits of instant and secure deposits and withdrawals or the option of buying cryptocurrencies at top sites like Metaspins Casino, BC.Game, Wagmi Casino and Rollbit Casino.

For Metaspins players, the plan is to push the envelope and include Web3 functionalities like the NFT marketplace. This ensures you get to play your favourite games using your NFTs and those designed by Metaspins. Other things on the horizon include Loot Boxes, Crypto Staking and more. 

Wagmi Casino is one of the innovative gaming sites that make it an adventure to get your hands on the exciting Wagmi NFTs. There are various ways to get your hands on Wagmi NFTs, this can be done through Deposit Give-Aways, Free Giveaways and even the marketplace.

By owning a Wagmi Genesis NFT, you will have access to a range of special and unique benefits. This includes membership NFTs, exclusive promotions and other redeemable rewards.

BC.Game is taking NFT to the next level with its Degen Pass. There are many perks that come with this casino which include a unique avatar, Degenback rewards and a mystery airdrop to all Genesis holders. You can gain access to Degenverse and get hands on a VIP permit to any partner casinos.

With Rollbit Casino, you get to enjoy plenty of entertainment which includes staking NFTs for the chance to get your hands on Jackpot winnings.

Last but not least, there is also news on Evolution releasing its first NFT Megaways slot in collaboration with Red Tiger Gaming. The slot is a huge success as the NFT Megaways is an arcade-style slot that you can try at any Evolution casino online and take things next level!

Published: May 23, 2023

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Article by Polly

CasinoWow Contributor

Hey guys, my name is Polina but my friends and colleagues call me Polly. I am truly passionate about online casino gaming and exploring the different online gambling experiences. I'm really into diving deep into topics and researching all the details. My aim is to gather the best information and write interesting articles for all the readers at CasinoWow.

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