How NFTs Could Become the Next Big Thing in the Gambling Business
Gambling industry has made a pivot towards the digital landscape in response to the global pandemic. Online casinos have been popularizing more recently. NFTs, NTCs and cryptocurrency are also gaining popularity. The whole idea of NTFs has been around for a while, but it's only recently that a large portion of the consumer market has paid more attention to its applications.
Non-fungible tokens are non-digital assets that are stored on the blockchain. NFTs are the opposite of fungible cash. N FTs could become the next big thing in the gambling business. They are a digital ledger that is made up of different blocks filled with secure data and information.
Some of the most common NFTs that people purchase are custom illustrations, avatars, GIFs, or even GIF-like content. NBA has an NF platform called NBA Top Shot. Digital property is also popular in platforms like Decentraland.
The first NFT to generate actual money from gambling activities was released in late 2021. The Slotie Nft is composed of 10,000 unique N FTs. It costs 0.08 ETH at first launch for the first 2,500 buyers. After that, the price increases to 0:16 ETH for 7,00 ETH. NFSs can be bought in 150 partner casinos around the world.