The rapid ad revolutionary growth of the crypto currency market has led to a long line of innovation and development. Crypto currency’s volatility has often been compared to that of gambling, and new developments create even more connections for this comparison.
Crypto casino operators are always trying to maintain innovation and development to attract more users, and the one of the most recent innovations in this trend comes from Lucky Crypto. Last month, they launched the first ever Metaverse NFT slot machine.
Lucky Degens owners are given the chance to play for NFTs by using the digital slot machine which is found in the Lucky Degen embassy in Decentraland. The Metaverse launch is yet another step into the intricate relationship between the world of crypto currency in gambling.
The Lucky Degen slot machine
The brand new NFT casino is the first in a series of planned casino-based Metaverse functions from Lucky Crypto. The slot machine can be used both by owners and non-owners, and can be found in the Lucky Degens embassy in Decentraland. Here, non-owners can play up to 10 times for free every day, whereas owners can play up to 50 times a day.
The possible prizes include one or more NFTs, as well as benefits such as VIP access to private tournaments and games. The prizes can also include more traditional casino bonuses such as free spins or cash backs. Some of the NFT prizes can even be used to make transactions on other casinos on the Metaverse platform.
The NFT prizes will be made up of two collections: OG Collection and Jungle Animal Collection. Both of these will be released later this summer.
Not the first NFT slot machine
The Lucky Degens slot machine is unique in that it is the first ever NFT slot machine on the platform Metaverse. That being said, it is not the first ever NFT slot machine created. The very first NFT slot machine was created in 2021 by game developer Red Tiger. The machine, called NFT Megaways, used the companies Crypto Punks characters to bring the machine to life.
The crypto casino spider web
The introduction of these types of NFT casino games further strengthens the bond between crypto currency and casinos. Today, gamblers can access casinos which allow for transactions made entirely with crypto currencies, which many argue is a safer option for gambling due to the transparent and anonymous Blockchain technology.
However, the interrelation of the two areas has also been discussed as a negative factor for the market. Sceptics of the crypto currency market argue that its high volatility puts it in the same game of chance as gambling, and accuse crypto investors of being as potentially clueless as a slot machine user.
On the other hand, this is only one part of the story. A lot of crypto investors spend hours upon hours reading up on the market and making predictions just like any stock market trader would. Secondly, the argument doesn’t take anything away from the fact that the innovations in crypto casinos and Metaverse gambling are fascinating technological advancements that might open many new doors for our digital world.