Will NFT bring any change in crypto gambling industry? - page 5.

RealMalatesta

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Quote from: avikz on March 15, 2021, 01:40:28 AM

Quote from: tabas on March 14, 2021, 05:30:18 PM

I guess so too that there's no one in existence but I haven't browsed a lot and maybe somebody found out that there's already one. But yeah, it's safe to assume that there's none currently.
What the NFT market is focused on are with those popular digital arts and those pieces of history like the NBA top shots and other first things in the internet space.

No! There's currently no gambling house available that had incorporated NFTs. NFT is currently being used as a tool in digital auctions. That's their focus area as of now. But that doesn't mean NFT wouldn't have any use cases for gambling! It's just that we don't know yet! It's quite possible that a gambling house would want to take all their gambling activities through a custom blockchain to prevent fraud and to make their bets verifiable. In that case, NFT can become handy! But the high cost of transactions are really making things difficult for all of us! Unless and until the transaction costs of ETH blockchain normalizes, it's difficult to see NFT in a customer focused industry like gambling.

I really do not get why NFT should be implemented for gambling neither, I mean sure it is a good project for art related stuff and even there it shouldn't really worth this much if you ask me but at least that makes sense, how would you implement NFT into gambling? That doesn't really sound like an ideal way to gamble. There is this one thing and you can own it if you pay and nobody else can own it and you.. gamble with it?

I do not really know and I do not really get it, but if you ask me it is not going to be really good way to use it, let the art world use NFT as much as they want and let others that want to implement it use it the way they want but there is really nothing that would be beneficial for the gambling world at all, that's at least what I think and that is why I do not think that anything major will change in the gambling world anytime soon.

milewilda

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Quote from: Swopon on March 16, 2021, 01:11:04 PM

Quote from: davis196 on March 11, 2021, 07:05:11 AM

I don't think that NTF will ever going to be implemented in the online crypto gambling industry.
The Non Fungible Tokens will stay in the gaming industry.The gambling industry is different than the gaming industry.The gambling games are based on luck,not on skills,so buying and selling game items/tokens would be pointless.The main goal of every casino is to squeeze more money from the gamblers every day,not to issue a token and sell it to the gamblers for a one-time fee,so they could trade that token with each other. Grin

Exactly, NFT is a new hype for crypto market after many phases like ICO, IEO, DEFI etc. Here, in gambling industry, casino will provide many promotional things for creating a flow of money by the gamblers. NFT will provide a trading system by which gamblers will exchange it to one another. New model can be suggested by which NFT can bring change in this industry too.

When there's a new innovation then expect that it would really be hyped but lets see if it would really be that useful or significant after several months or years to pass.Just like other things that mentioned earlier
where they did really get some recognition and then passed up to another one and this isnt surprising and lets just make use of this one and lets find out on what would be the sentiments of people on upcoming months.

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Quote from: davis196 on March 11, 2021, 07:05:11 AM

I don't think that NTF will ever going to be implemented in the online crypto gambling industry.
The Non Fungible Tokens will stay in the gaming industry.The gambling industry is different than the gaming industry.The gambling games are based on luck,not on skills,so buying and selling game items/tokens would be pointless.The main goal of every casino is to squeeze more money from the gamblers every day,not to issue a token and sell it to the gamblers for a one-time fee,so they could trade that token with each other. Grin

Exactly, NFT is a new hype for crypto market after many phases like ICO, IEO, DEFI etc. Here, in gambling industry, casino will provide many promotional things for creating a flow of money by the gamblers. NFT will provide a trading system by which gamblers will exchange it to one another. New model can be suggested by which NFT can bring change in this industry too.

South Park

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Quote from: adzino on March 11, 2021, 11:54:04 PM

I have been hearing a lot about NFTs the last couple of days. Seems more like a hype that might die soon but who knows. Though I like the abstraction of being able to sell digital art that will be "uniquely" owned by the buyer. But looking at the marketplace, I sometimes think people are crazy. I am sure most of them are not "collectors". They are just buying those so that they can sell it later at a higher price (albeit risky).
As of now I doubt it is going to bring any change to the crypto gambling industry. It's more focused on digital creators and collectors.

I more or less think the same, the concept is novel and it could have some uses especially when it comes to the world of art however I really think that people are just speculating with this the same way they speculated with icos, ieos and other forms of investment, and like always there are going to be people that make a fortune and there are also going to be a lot of people that will lose everything they invest in those NFT and will regret the day they did so.

peter0425

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gambling coin can be everything as long as the users will trust the project and also offers Low transaction fees.

I remember the time when Only Bitcoin was the currency use to gamble but now there are many of them that accepted by gambling site so why not NFT?
and besides this will help the community of gambling to experience another coins with good potential .

Quote from: Lorence.xD on March 15, 2021, 03:36:13 AM

I don't think that NFT will change the gambling landscape that much because what can they contribute to it in the first place besides the possibility that they can be a token that you can get when you win in your games. Maybe if the NFT that the gambling website/house is going to use is going to go up in value then maybe, there will be some changes.

It may not change a Lot but still will change something for sure.

shoreno

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Quote from: Lorence.xD on March 15, 2021, 03:36:13 AM

I don't think that NFT will change the gambling landscape that much because what can they contribute to it in the first place besides the possibility that they can be a token that you can get when you win in your games.

nft's are introduced in crypto because they have a purpose , so if cryptos introduced in a gambling the nft's can also do the same . a gambling site can make a new game mode that makes a gambler win nft's and many are going to participate with it due to the expensive value of nft's right now .

Quote from: Lorence.xD on March 15, 2021, 03:36:13 AM

Maybe if the NFT that the gambling website/house is going to use is going to go up in value then maybe, there will be some changes.

i think this is possible because if we can see for now the value of nft's are already high now that the demand for it is still low but in the future where nft's are already popoular the demand can skyrocket as well so as the price .

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Quote from: avikz on March 15, 2021, 01:40:28 AM

Quote from: tabas on March 14, 2021, 05:30:18 PM

Quote from: pawanjain on March 14, 2021, 11:43:33 AM

Quote from: tabas on March 13, 2021, 06:46:12 PM

Never thought of such an idea but with what I see with all of these NFTS. Anything can be put into it and bring value. It is interesting who will be the casino to bring up the very first NFT in the crypto gambling industry.
Or is there already one in existence?

The NFT market is relatively new and I don't think there's any gambling website that has incorporated NFT yet.
There are more number of ways NFT can be utilized in the field of gambling. The area is unexplored yet.
Only time will tell how potential NFTs can be in gamling.

I guess so too that there's no one in existence but I haven't browsed a lot and maybe somebody found out that there's already one. But yeah, it's safe to assume that there's none currently.
What the NFT market is focused on are with those popular digital arts and those pieces of history like the NBA top shots and other first things in the internet space.

No! There's currently no gambling house available that had incorporated NFTs. NFT is currently being used as a tool in digital auctions. That's their focus area as of now. But that doesn't mean NFT wouldn't have any use cases for gambling! It's just that we don't know yet! It's quite possible that a gambling house would want to take all their gambling activities through a custom blockchain to prevent fraud and to make their bets verifiable. In that case, NFT can become handy! But the high cost of transactions are really making things difficult for all of us! Unless and until the transaction costs of ETH blockchain normalizes, it's difficult to see NFT in a customer focused industry like gambling.

Yes, we haven't seen one and maybe one of the most known or oldest casinos will also dive into NFT and will make their own. And the time about fees will decrease.
I think that we're about to see that but that could happen within the next 4 months or so and hopefully that it won't be longer and delayed.

Lorence.xD

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I don't think that NFT will change the gambling landscape that much because what can they contribute to it in the first place besides the possibility that they can be a token that you can get when you win in your games. Maybe if the NFT that the gambling website/house is going to use is going to go up in value then maybe, there will be some changes.

avikz

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Quote from: tabas on March 14, 2021, 05:30:18 PM

Quote from: pawanjain on March 14, 2021, 11:43:33 AM

Quote from: tabas on March 13, 2021, 06:46:12 PM

Never thought of such an idea but with what I see with all of these NFTS. Anything can be put into it and bring value. It is interesting who will be the casino to bring up the very first NFT in the crypto gambling industry.
Or is there already one in existence?

The NFT market is relatively new and I don't think there's any gambling website that has incorporated NFT yet.
There are more number of ways NFT can be utilized in the field of gambling. The area is unexplored yet.
Only time will tell how potential NFTs can be in gamling.

I guess so too that there's no one in existence but I haven't browsed a lot and maybe somebody found out that there's already one. But yeah, it's safe to assume that there's none currently.
What the NFT market is focused on are with those popular digital arts and those pieces of history like the NBA top shots and other first things in the internet space.

No! There's currently no gambling house available that had incorporated NFTs. NFT is currently being used as a tool in digital auctions. That's their focus area as of now. But that doesn't mean NFT wouldn't have any use cases for gambling! It's just that we don't know yet! It's quite possible that a gambling house would want to take all their gambling activities through a custom blockchain to prevent fraud and to make their bets verifiable. In that case, NFT can become handy! But the high cost of transactions are really making things difficult for all of us! Unless and until the transaction costs of ETH blockchain normalizes, it's difficult to see NFT in a customer focused industry like gambling.

tabas

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Quote from: pawanjain on March 14, 2021, 11:43:33 AM

Quote from: tabas on March 13, 2021, 06:46:12 PM

Never thought of such an idea but with what I see with all of these NFTS. Anything can be put into it and bring value. It is interesting who will be the casino to bring up the very first NFT in the crypto gambling industry.
Or is there already one in existence?

The NFT market is relatively new and I don't think there's any gambling website that has incorporated NFT yet.
There are more number of ways NFT can be utilized in the field of gambling. The area is unexplored yet.
Only time will tell how potential NFTs can be in gamling.

I guess so too that there's no one in existence but I haven't browsed a lot and maybe somebody found out that there's already one. But yeah, it's safe to assume that there's none currently.
What the NFT market is focused on are with those popular digital arts and those pieces of history like the NBA top shots and other first things in the internet space.

acquafredda

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I am hard to be surprised and I am not getting the overall excitement that is spreading all over this new NFT markets. It is either because I have seen too much crap in crypto or I cannot grasp what is under the veil yet. Will keep an eye on this but I believe this is a short-lived development.
Until there is no clear killer app for these NFTs and they are only being discussed as a new speculative asset class I would rather be out of it.

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Quote from: tabas on March 13, 2021, 06:46:12 PM

Never thought of such an idea but with what I see with all of these NFTS. Anything can be put into it and bring value. It is interesting who will be the casino to bring up the very first NFT in the crypto gambling industry.
Or is there already one in existence?

The NFT market is relatively new and I don't think there's any gambling website that has incorporated NFT yet.
There are more number of ways NFT can be utilized in the field of gambling. The area is unexplored yet.
Only time will tell how potential NFTs can be in gamling.

tabas

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Never thought of such an idea but with what I see with all of these NFTS. Anything can be put into it and bring value. It is interesting who will be the casino to bring up the very first NFT in the crypto gambling industry.
Or is there already one in existence?

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Quote from: Twentyonepaylots on March 13, 2021, 06:25:30 PM

Any casino who will successfully tap into the abilities of NFT will surely come out of the top at the gambling industry ladder. It is the hottest thing right now, and that is because of what it can offer to the table. And it is super easy to integrate into a pre-existing system so it's not like the coders will need to burn their hairs out thinking of a plan to put them into the spotlight.

Quote from: fiulpro on March 13, 2021, 12:39:25 PM

There can be NFT tokens added on the gambling sites for sure but at the same time the main thing is not the token itself because everyday we have 1000 of Altcoins added and removed the main thing is that it represents ownership. I do believe that it can be used as a token for the sports industry. For example : NFT indicates the ownership of a particular thing and if people starts selling them for players , for teams then they can have a whole different set there. It is already being done by making new tokens for that particular games but NFT since it's non interchangeable will mean it's value will be more and people would be able to OWN such teams , now they can try and make some decisions and even participate in particular events.
I do think it can also be given out by different casinos to the people who do invest the most in them ! Which would be like a proof of being loyal to that casino and might come with some benefits.
This has a wide scope. Who knows how one will use it ?

NFT Gambling Milestone rewards, trading cards for sports betting, the world is your oyster with NFT. You can never just be so secluded in a particular idea because it offers so much versatility and is the perfect collector's item.

this is the reason why sooner or later, these gambling sites will find a way how to explore the world of NFTs. there are so many collectors across the globe and they are willing to pay a staggering amount. and with NFTs, this is an easy access whether that person really owns a particular item without checking the real item and he can show it at anytime, anywhere. collector's items are going digital now. and it will not be long before gambling industry will join this new trend.

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Any casino who will successfully tap into the abilities of NFT will surely come out of the top at the gambling industry ladder. It is the hottest thing right now, and that is because of what it can offer to the table. And it is super easy to integrate into a pre-existing system so it's not like the coders will need to burn their hairs out thinking of a plan to put them into the spotlight.

Quote from: fiulpro on March 13, 2021, 12:39:25 PM

There can be NFT tokens added on the gambling sites for sure but at the same time the main thing is not the token itself because everyday we have 1000 of Altcoins added and removed the main thing is that it represents ownership. I do believe that it can be used as a token for the sports industry. For example : NFT indicates the ownership of a particular thing and if people starts selling them for players , for teams then they can have a whole different set there. It is already being done by making new tokens for that particular games but NFT since it's non interchangeable will mean it's value will be more and people would be able to OWN such teams , now they can try and make some decisions and even participate in particular events.
I do think it can also be given out by different casinos to the people who do invest the most in them ! Which would be like a proof of being loyal to that casino and might come with some benefits.
This has a wide scope. Who knows how one will use it ?

NFT Gambling Milestone rewards, trading cards for sports betting, the world is your oyster with NFT. You can never just be so secluded in a particular idea because it offers so much versatility and is the perfect collector's item.

Oilacris

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Quote from: Oceat on March 13, 2021, 05:45:10 PM

Quote from: acquafredda on March 13, 2021, 10:26:07 AM

It is the new momentary new kid in town, that is it, nothing more nothing less. I hope you spent some time to read through Jimmy Song's post as I am not going to repeat what he wrote there. That is my opinion too and I expect nothing from the new NFT craze.
I fail to see the evidence of why it should be used in the gambling industry, nobody made compelling arguments here.

So basically this new coin is just hyped up and is making some crazy speculation around if that's what you meant. Plus that digital artwork sold from auction in millions is also crazy since there are worth it real artwork handcrafted by the great people before just like example of the "Mona Lisa by Leonardo da Vinci".

People are throwing huge money just for this hyped NFT and I don't see where it is coming or what is the use of it in terms of gambling. Will the casino notice a person if he's using a NFT when betting?

If you do talk about application of nft on gambling then you could read up something on how its relevant into this industry.
https://www.gemini.com/cryptopedia/nft-blockchain-gaming-industry

you would see that this is indeed some relevant thing but somehow i agree that everything that is new would really be getting that kind of hype and interest.

Lets see on how this would be recognized and not just that slip away when hype is over.

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Quote from: acquafredda on March 13, 2021, 10:26:07 AM

It is the new momentary new kid in town, that is it, nothing more nothing less. I hope you spent some time to read through Jimmy Song's post as I am not going to repeat what he wrote there. That is my opinion too and I expect nothing from the new NFT craze.
I fail to see the evidence of why it should be used in the gambling industry, nobody made compelling arguments here.

So basically this new coin is just hyped up and is making some crazy speculation around if that's what you meant. Plus that digital artwork sold from auction in millions is also crazy since there are worth it real artwork handcrafted by the great people before just like example of the "Mona Lisa by Leonardo da Vinci".

People are throwing huge money just for this hyped NFT and I don't see where it is coming or what is the use of it in terms of gambling. Will the casino notice a person if he's using a NFT when betting?

fiulpro

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There can be NFT tokens added on the gambling sites for sure but at the same time the main thing is not the token itself because everyday we have 1000 of Altcoins added and removed the main thing is that it represents ownership. I do believe that it can be used as a token for the sports industry. For example : NFT indicates the ownership of a particular thing and if people starts selling them for players , for teams then they can have a whole different set there. It is already being done by making new tokens for that particular games but NFT since it's non interchangeable will mean it's value will be more and people would be able to OWN such teams , now they can try and make some decisions and even participate in particular events.
I do think it can also be given out by different casinos to the people who do invest the most in them ! Which would be like a proof of being loyal to that casino and might come with some benefits.
This has a wide scope. Who knows how one will use it ?

pawanjain

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Nothing lasts forever

NFTs can surely be incorporated in gambling in many ways such as betting on NFT prices where people can predict what will be the selling price of NFT.
NFT can also be incorporated as an award token such that when someone achieves something on the gambling site they will be rewarded with a particular NFT.
Similarly we can think of many more use cases for NFT in gambling.

acquafredda

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It is the new momentary new kid in town, that is it, nothing more nothing less. I hope you spent some time to read through Jimmy Song's post as I am not going to repeat what he wrote there. That is my opinion too and I expect nothing from the new NFT craze.
I fail to see the evidence of why it should be used in the gambling industry, nobody made compelling arguments here.

Topic: Will NFT bring any change in crypto gambling industry? - page 5. (Read 1223 times)