Will NFT bring any change in crypto gambling industry? - page 7.

mindrust

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Quote from: electronicash on March 11, 2021, 01:23:39 PM

Quote from: mindrust on March 11, 2021, 12:21:18 PM

I don't get the hype. I don't understand why would anybody pay to take the ownership of a digital asset at all. No need to say I don't think that it is going to affect gambling industry in any way. This is just another toy for the super rich people so they can show off imo.

me neither. this is somewhat like the cryptokitties but this time it's the popular people who release NFTs like Logan Paul for instance which his NFT card was sold for $5M. i don't understand how the price came to be that high but jeez it's a digital card. now I'm not sure how NFTs could be in the gambling industry unless there will be someone/popular company that will create unique NFT for MMORPG games probably as prize for the winners.

A painting, for example Mona Lisa, it is impossible to produce the exact same painting today. By exactly, I mean exactly literally. You can come pretty close and even if you somehow get too close, it is still not going to be the same painting because of the aged material.

That's not the case with the digital assets. You can copy the same video, music as many times as you want and they will all be the same. The only difference that NFT thing adds is like adding a PGP key to that digital asset.

What people are paying for is that PGP key! It is like paying a famous guy to get his signature on your t-shirt.

The more I think about it the crazier it gets.

Quidat

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Quote from: avikz on March 11, 2021, 02:34:27 AM

As many of you might be aware of NFTs as it is getting a lot of attention from the crypto community. People are selling digital goods, artworks, gamea and unique things for millions of dollars. Even Elon's Partner has joined the bandwagon and already earned few millions. As of now, NFTs are only popular in digital marketplaces to mark the ownership of an asset through blockchain.

Now from where I see, NFT has a very good potential to be used in MMORPG games and fantasy sports segment. Even big developers like UBISoft has shown interest in NFT. Since NFT concept is very new we still have many unexplored areas of application.

Do you think NFT concept will be used in crypto gambling industry in near future? What change it will bring into this industry? Let's discuss!

Ive read up several articles connected to it.
https://economictimes.indiatimes.com/tech/trendspotting/what-is-nft-and-why-it-matters-in-the-crypto-world/articleshow/81410583.cms
https://www.pittwire.pitt.edu/news/what-nft-pitt-experts-explain-digital-tokens

All i can say on using it near future and its potential? I dont see the relevance but having this option isnt bad either.

Jackl87

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One way to implement NFT's into gambling or casino games would be to be able to win NFT's which grant access to a poker event for example where you can win a big prize.
You could win those NFT's by playing the normal casino games on the platform and of course you could also trade that NFT so someone else could take part in the event.
Or valuable NFT's could just be another possible prize in addition to BTC.

acquafredda

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Every new crypto-thing gets hyped every now and then and yes, now is the time of these non-fungible tokens. I see they are getting quite popular but I personally do not follow them. I understand they could be useful in some real world use cases (tokenized securities, property, real world assets...) but fro the time being I would rather prefer that our old good bitcoin could become completely FUNGIBLE once and for all. That is the only fungibility I care about!

electronicash

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Quote from: mindrust on March 11, 2021, 12:21:18 PM

I don't get the hype. I don't understand why would anybody pay to take the ownership of a digital asset at all. No need to say I don't think that it is going to affect gambling industry in any way. This is just another toy for the super rich people so they can show off imo.

me neither. this is somewhat like the cryptokitties but this time it's the popular people who release NFTs like Logan Paul for instance which his NFT card was sold for $5M. i don't understand how the price came to be that high but jeez it's a digital card. now I'm not sure how NFTs could be in the gambling industry unless there will be someone/popular company that will create unique NFT for MMORPG games probably as prize for the winners.

mindrust

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I don't get the hype. I don't understand why would anybody pay to take the ownership of a digital asset at all. No need to say I don't think that it is going to affect gambling industry in any way. This is just another toy for the super rich people so they can show off imo.

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Quote from: dothebeats on March 11, 2021, 10:11:02 AM

This will appeal more to serious collectors on the trading card niche. I'm pretty sure the gambling industry will find some uses on NFT given the idea is quite fitting and complementary on some of the aspects of the industry. Though the potential is there, the hype around NFTs on other markets/industries IMO would not be carried towards the gambling scene.

NFT has been marking a big change through its potential usage on the collectibles. The same process can't be used with gambling platform. NFT to get used on the gambling industry is quite low, even if it is used we can't find anything innovative with the NFT.

uneng

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NFTs are more related to online games items and collectible goods in general. I'm not sure if it will be very impacting to crypto gambling industry. Maybe some competitions in casinos can reward gamblers with valuable NFT tokens and of course it will be used as a smart marketing strategy by many casinos to attract new gamblers rewarding them with NFTs created by the own casinos, with the promise the NFT will become valuable futurely.
It might become the new trend after the ICO ones, when casinos introduced their own altcoins.

semobo

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I never thought about having NFT in a cryptocurrency gambling site because it is supposed to be used for art works, anyway if it is possible then which gambling site is going to adopt them. I still don't get the advantages of NFT in gambling field.

madnessteat

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Of course NFTs can influence the development of the gambling industry because they provide gambling sites with the opportunity to introduce completely new reward systems for a more exciting interaction with the players. I think there is a reason why more and more big companies are interested in using NFTs in gambling - Atari Set to Launch Cryptocurrency Casino Featuring Atari-themed Games and NFTs.

dothebeats

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This will appeal more to serious collectors on the trading card niche. I'm pretty sure the gambling industry will find some uses on NFT given the idea is quite fitting and complementary on some of the aspects of the industry. Though the potential is there, the hype around NFTs on other markets/industries IMO would not be carried towards the gambling scene.

TedMosby

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https://bitcointalk.org/index.php?topic=5274318.0

IMO, there’s NFT with some feature nowadays. Gambling industry especially crypto gambling industry could take advantage from that.

Use cases:
The gambling company can create an NFT which has a feature like boosting players’ winning chance, doubling their stake every certain rolls, free rolls or free bets, and many more.

7788bitcoin

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Quote from: avikz on March 11, 2021, 02:34:27 AM

Now from where I see, NFT has a very good potential to be used in MMORPG games and fantasy sports segment. Even big developers like UBISoft has shown interest in NFT. Since NFT concept is very new we still have many unexplored areas of application.

Do you think NFT concept will be used in crypto gambling industry in near future? What change it will bring into this industry? Let's discuss!

May be the gaming industry might adopt the concept, when i first heard about it i had no idea about how successful it could be and how long we will see that succeed as i have my doubts in the entire digital arts concept and how it can be valuable but then there are games that allows you to trade like Entropia and the NFT concept is prime for games like that and we might see a revolution.

LogitechMouse

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Quote from: bakasabo on March 11, 2021, 04:56:40 AM

If I understand correctly, NFT is a digital art. It has no real usage and their value is determined only by demand. I dont understand what kind of changes NFT could bring, but I think it will be similar to skins in esports.

Aside from the digital art, Blockchain Items that we can get from different blockchain games can be considered as NFT too.

Now with regards to NFT being connected to crypto gambling, NFT's doesn't have any connection with it directly at least for now. The connection that I can only see between these 2 is that when the owner of NFT decides to sell his NFT and then use the money into crypto gambling but aside from that, nothing more but who knows. We can't predict what can happen in the future Cheesy

. We might see some gambling sites that has NFT feature on it. We'll see about that

Yogee

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Quote from: avikz on March 11, 2021, 02:34:27 AM

....Do you think NFT concept will be used in crypto gambling industry in near future? What change it will bring into this industry? Let's discuss!

I don't see big changes to the 'gambling' industry to be honest unless the game providers would create avenue for NFTs and take advantage of the hype. I don't consider gamblers or gambling companies making collectibles and selling them as bringing "change".

mu_enrico

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First, I think if you can sell/trade it, you can gamble it. It means that it will open the possibility to bet NFT to get another NFT or use it as a prize. Secondly, we can use NFT to get perks. For example, golden or platinum dice will get you -%HE, etc. Try Traderacemanager by IOI, as it implements the second concept where users can get perks from owning NFT cars.

rhomelmabini

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Quote from: avikz on March 11, 2021, 02:34:27 AM

Do you think NFT concept will be used in crypto gambling industry in near future? What change it will bring into this industry? Let's discuss!

I think it will mark in the gambling space as well, just this day I see at https://v.cent.co even those tweets are getting sold and I think the same as to gambling but I don't see on what areas yet it will bloom. I think of few things like a jackpot bet, a unique bet from sports or any type of gambling bet, a video of your jackpot, I'd see there are areas it may bloom maybe there are others that may share their ideas.

First bet on crypto gambling as an NFT? I think that may be hectic to search but it's worth it to auction I think.

Yamifoud

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I have to make some research on NFT to be honest.

I love gambling, I'm constantly playing but I only use altcoins and bitcoin for my gambling.
What's really the concept of this project, why is it special and why we think it has a great potential in the future?

I check in CMC and find this. https://coinmarketcap.com/currencies/nft/markets/ (is this it?)

Fundamentals Of

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Possibly, but I cannot think of specific large-scale gambling games such as dice, roulette, poker, etc which need of non-fungible tokens. It is a lot better for the tokens or coins used in gambling to be fungible. BTC and other altcoins used in gambling are much preferred as they are also currencies in themselves. It does not matter whether the BTC you are winning is coming from anybody because it is BTC. Possibly, a highly niche-based specific game involving bets which are sort of collectibles will surface one day.

davis196

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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

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