NFTs could soon become commonplace in online casinos
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How NFTs Could Be Used in Online Casinos

December 4, 2023

The NFT concept shot to fame at the beginning of 2021 when a long-time digital art creator, Beeple, conducted what is known as a “drop” in which a variety of his works sold for a total just shy of $70 million.

NFTs, or non-fungible tokens, are now all the rage, with everything from basketball cards to Tweets being minted as NFTs, to then be sold via online NFT marketplaces. So, how long before we see this phenomenon make its way into the of realm of online casinos and how exactly would they be used?

The first and most obvious usage of NFTs in the online casino is to offer them as alternative prizes. This could have widespread appeal among players who are well versed in the workings of cryptocurrencies and the systems that make them tick.

Similarly, a jackpot screen or rare special character symbol from a slot game could easily be turned into an NFT in its own right. This could ultimately revolutionise how online casinos run their various promotions and loyalty programs.

This adds intrigue, as the value of any given NFT can fluctuate greatly, meaning players would have to think carefully about whether to be renumerated in standard FIAT currency or in the form of an NFT.

It is highly likely that sooner rather than later NFTs will appear in some capacity in online casinos, but exactly how remains up for debate.