NFTs are a new phenomenon which have taken the cryptocurrency, blockchain and casino worlds by storm. The gaming industry is always looking to innovate, and with the introduction of cryptocurrencies and now NFTs, it was only a matter of time until casinos trading and offering prizes in NFTs cropped up. In this review, we will be explaining what NFTs are, and sharing full details on the best NFT casinos. Before we get into the specifics of NFTs, though, we’re sure some of you want to get directly into the recommendations. Here they are:
You might have heard about Nyan Cat being sold as an NFT, clip art rocks being sold for the price of cars and houses, or come across one of Elon Musk’s wild tweets which always seem to throw the market into a frenzy. All of this might leave you feeling utterly confused, just as we were before we took a deep dive into the subject.
‘NFT’ stands for Non-Fungible Token. Well, that doesn’t get us anywhere, does it? What the heck is a fungible? And how do NFTs relate to the world of online casinos? Let’s take things step by step.
Non fungible simply means that an item is unique, and can be identified and verified as so. Usually NFTs take the form of a digital image, sometimes a GIF or a video. Other times, they can even be a tweet, such as the one sold by the founder of Twitter for millions!
If we compare NFTs to cryptocurrencies, we can see that an individual NFT is unique, whereas a singular Bitcoin or Ether is not. A Bitcoin can be exchanged for another without there being a difference, whereas an NFT cannot.
In their struggle to find a way to explain what NFTs are, people have often compared them to collectable trading cards. Like trading cards, NFTs can either be one of one, or else exist as an outwardly identical set. The difference is that each of those in the set – while seemingly identical pieces – is a uniquely-identifiable token on the blockchain.
NFTs exist on the blockchain. Most exist on the Ethereum blockchain – the same one that hosts the Ether cryptocurrency. Every individual NFT has a string of numbers associated with it that identify it as uniquely itself.
Because of this, NFTs can be bought and traded on this same blockchain. NFTs can be bought just like you can buy cryptocurrencies using other crypto coins, Euro, or any other currency you’d like.
The NFTs themselves are usually hosted on trading websites called platforms, which we’ll cover below. You choose the platform depending on the specific NFT or NFT series you’re after.
Let’s take a look at some of the more popular NFT series.
Just like you can find Pokémon cards and any other manner of trading card series, NFTs also have their own series which you can buy into – only they’re digital assets instead!
While CryptoKitties was the game that started it all, a few of the popular NFT series nowadays are:
Just like buying into Bitcoin or any other speculative digital asset, NFTs can rise and fall in value, sometimes quite drastically. Because of this, NFT sales have gone through the roof, as some have bought into the NFT market simply because they believe their bought token will rise in value, fully intending to sell it off later for profit.
This can be a decent strategy for those who have the time and energy to constantly check in on their investments. Despite this, the unpredictability that applies to cryptocurrencies applies twice as much to NFTs.
Okay, so we promised we’d mention where you could actually buy these NFTs. Well, that’s through a few popular NFT platforms, such as:
On these platforms, you’ll be able to browse and discover new and exciting NFTs along with the collections they form a part of. It’s like a gigantic catalogue of all the wonderful digital assets you could become the owner of!
So how does all of this relate to online casinos, casino games, and our beloved Megaways™ game engine?
Well, that’s the beauty of the online gambling industry – it’s never a single step behind any of the newest internet developments. Megaways™ online casinos have seen in NFTs a whole new set of features they can implement.
NFT casinos are casinos which integrate – through their website or the games that they host – some form of compatibility with the NFT market. This can come in many different shapes and forms.
Similar to Metaverse casinos, some NFT casinos have created their own NFT series. Others allow NFT owners to put up their tokens to be bet on by casino players. This can net the owner of the NFT some income through the proceeds, or even a share of some of the profits from the entire NFT casino section.
Depending on the game, some NFT casino games will offer non-fungible tokens as a prize for their players, whereas other games will use them as currency. However, the latter is a bit rarer seeing as NFTs are quite unstable in value.
A popular type of game which has cropped up since the surge in NFT gambling popularity is NFT case openings. Some of you may be familiar with CS:GO skins case openings, where players pay to open a random loot box containing prizes. This type of game can be quite similar to some of the NFT games out there.
In the case of CS:GO, these prizes can range from mundane to ultra rare and valuable weapon skins. NFT case openings offer players the chance to win super valuable NFTs, costing multitudes more than the price of admission!
Of course, it’s not just the online casinos that have gotten in on the NFT action! Some of the biggest casino games providers out there have decided to integrate NFTs into their games too – and that’s where we get the NFT Megaways™ connection!
The shining example of this is NFT Megaways™ by Red Tiger Gaming, which is owned by Evolution. CryptoPunks feature heavily in this game, with Evolution having bought four of them for more than $160,000 in total!
NFT Megaways™ features up to 200,704 ways to win, a 6×7 design, 10,000× max win, and most pertinently, a bonus free spins feature making use of the 4-star CryptoPunks at the CryptoPunks bar!
Whether you’re familiar with the world of the NFT blockchain, have already played a few crypto spins or are a complete novice to NFT gambling, we hope our overview of NFTs and NFT casinos has cleared things up a little.
Now you’re ready for some NFT casino games such as NFT Megaways™ or case openings – if that’s more your thing. Either way, the world of digital tokens and NFT gambling is at your fingertips, so have at it!
NFTs, or Non-Fungible Tokens, are one-of-a-kind digital assets such as artworks or videos, which you can buy, trade, and own just like the trading cards of yore!
NFT casinos are online gambling sites which support NFT gambling, either through their site or through the games they host.
NFT slots are casino slot games which make use of NFTs as prizes, wagers, or part of the game design.
NFTs can be bought from NFT trading platforms such as OpenSea and Nifty Gateway. Like cryptocurrency itself, you can use both other cryptocurrencies and traditional currencies to buy them.
Case openings are a type of NFT game where players buy mystery cases which might contain valuable NFTs inside.
An NFT platform is a digital asset trading platform which allows people to buy and trade NFTs.
The NFT Megaways™ RTP is set at 96%, which is quite standard for Megaways™ slot games.
While unpredictable, NFTs can rise in value, which means that if you buy an NFT before its rise in value, you can then sell it at the higher price, keeping the profits. We do not endorse this kind of speculative trading, and our articles are not to be taken as financial advice.