Whenever anybody thinks of cryptocurrency casinos, their mind automatically goes to Bitcoin betting. However, there’s a new kid in town – NFT casinos. While we can be reasonably sure that our readers understand what NFTs are, they may not be familiar with the concept of NFT casinos. If not, and you’re one of them, you needn’t worry. BTCGOSU is here to tell you everything you need to know about NFT casinos.
Show more If you’re already familiar with the concept of NFT casinos and want to skip ahead, you can do that. You’ll find a host of top NFT casinos to join below. Each has our recommendation.
If you’re already familiar with the concept of NFT casinos and want to skip ahead, you can do that. You’ll find a host of top NFT casinos to join below. Each has our recommendation.
For those who really need to go back to basics, you must first understand what an NFT is before you can play. Non-Fungible Tokens (as they are known) are best described as a piece of information, a digital identifier, if you will, that is recorded in the blockchain and owned by a single person. It cannot be duplicated. It is a cryptographic asset with unique metadata. NFTs have made headlines recently, and some can have crazy values as they are traded and sold between collectors.
NFT casinos are an even newer concept. A typical NFT casino is a site that facilitates transactions using NFTs. In some cases, players will still gamble using cryptocurrencies as usual, but they can pick up rewards (perhaps through a loyalty program) in the form of NFTs. These can then be traded on exchanges, adding further value and a new dynamic to gambling on the blockchain. Most of the casinos that facilitate NFT action are those linked to the metaverse. For instance, you’ll find a handful of top virtual reality casinos rewarding players with NFTs when they accomplish goals, pocket prizes, or complete tasks.
There are perks to playing at NFT. Most of these are straightforward to grasp, and we’ve highlighted two of them for you below. They include:
Being rewarded with NFTs via a casino’s loyalty scheme is a nice added touch to cryptocurrency casino gambling. It enables you to pocket prizes that no other player can win and that you can keep or trade.
When an NFT casino starts out, it will be a small-scale affair. As a result, its NFTs won’t be worth anything, really. However, if the NFT casino becomes popular, those original NFTs from the early days could gain quite a lot of value if you wanted to trade them.
Sadly, NFT casinos also have their downsides. These could be fixed in the future, but for the time being, here are two reasons not to get involved in NFT casinos right now:
Sadly, NFTs cannot be used as a payment method. You can’t deposit with NFTs. You can only receive them as rewards. This kind of hampers the excitement of betting with NFTs a touch, as you’ll still need to gamble with established cryptocurrencies.
Again, any winnings you pocket playing at NFT casinos (well, winnings that come from gameplay) will be paid out in cryptocurrencies. You can only pocket NFTs as loyalty rewards for the time being.
If you’re on the hunt for NFT casinos to choose from, we’ve got a few things we’d recommend that you look for. Before joining any NFT casino, keep the following in mind:
As touched on, we’ve got quite a few NFT casinos to recommend to you. Each has been vetted and approved by our team. Here are some of the better ones you may wish to consider joining today:
Before you sign up at an NFT casino, there is a process that you should go through. Here are all the pre-checks you need to do before signing up:
NFT casinos are a relatively new concept, so there are many ways in which they could turn out in the future. However, for the time being, these fledgling betting sites add extra spice to an already exciting online cryptocurrency gambling sector. If you want to get involved in that, head over to our NFT casinos to find the best site to sign up to as a new player today.
Yes – they must. NFT casinos run on the blockchain, so cryptocurrency deposits are essential if you want to bet at these casinos.
What you can play will vary depending on where you sign-up. Cryptocurrency casinos support live dealer games, and therefore, so should most NFT casinos.
That depends on where you play. Any good crypto/NFT casino worth its salt should offer you a welcome bonus, at the very least.
Again, this all comes down to where you play. Stick to our recommended NFT casinos, and you’re in good hands.
They should be. There are one or two NFT casinos that might try to make a profit from deposits, but most won’t bother. There are many sites out there that permit free deposits anyway.