Utility NFTs Take on The Market
Utility NFTs are non-interchangeable digital assets that serve as valid proof of ownership on the blockchain. The concept of N FTs has existed since 2012, but the first mainstream appearance of utility Nfts came in 2017. Next wave of Utility NTFs will arrive in 2020 with the launch of NBA Topshot, a marketplace where users can trade NBA and WNBA digital collectibles.
Utility NFTs are NTFs with valuations based on access, perks and opportunities they provide to token holders. They offer access to exclusive experiences, early access and exclusive invites to events with celebrities and athletes.
Utility NFTs are becoming more popular in the gambling industry. Sloties is a new company that uses NTFS to run casinos. N FT holders earn rewards every time they spin a slot machine in any of the Slotie casinos and can also use their NFTs to play the slot machines and earn more rewards.
Utility NFTs Take on The Market. Staking. Slotie has developed a platform where people can invest their assets and earn high APRs.
Holding Slotie is a partnership agreement between the holders and casinos. The casinos pay a commission of 12% of slot machine revenue for executing and distributing high-quality gaming solutions. Monthly, Sloties get 50% from NFT-based slot machines.
The demand for DeFi gambling, specifically NFT slot games, is expected to skyrocket over the next two years. This will create a need for additional NTF suppliers. Slotie owners can breed their NFS to create Junior Sloties. Junior sloties will have the same capabilities as Slotys, but a new series of slot machines will be developed for Junior slots.
Utility NFTs are the future of NTF technology. N FTs demonstrate the amount of innovation possible with blockchain technology through use cases such as Sloties.