With the crypto bull market in full swing and set to run into 2025, there’s a lot of talk about what the NFT landscape could look like this time around. Last time cryptocurrencies went on a massive upward trajectory, NFTs came to the fore for the first time and various projects such as the Bored Ape Yacht Club made the headlines.
New NFT collections are likely to climb the ranks this year and next, and different industries will start to introduce them. They haven’t had much of an impact on online casinos yet, but there are various ways that they could be incorporated in the years ahead.
NFTs Could Add Another Element to the Gambling Experience
The online casino sector is already a hotbed of attractions for players, with the gambling at Paddy Power’s online casino being a prime example of what’s on offer in today’s market. There are immersive slot games like Double Digger and Dam Beavers, alongside state-of-the-art live streamed offerings such as Crazy Time and All Bets Blackjack Live. It’s clear that players who visit sites like this want a varied experience with a wide array of things to do.
This is why NFTs could have an impact on the sector in the years ahead. The crypto-based tokens could offer another element to the online casino experience and give players something else to play for. For instance, there could be leaderboards where the winners are rewarded with NFT trophies. They could be integrated into the slots as a special prize. NFTs could also be integrated into reward ladders, with players earning special prizes when they reach a certain number of loyalty points. The possibilities are endless, and it’s likely that these blockchain assets will start appearing in online casinos more over the next few years.
What NFTs Are Likely to go Big This Time?
One of the reasons why online casinos will soon find NFTs hard to ignore is because they are already starting to be integrated into the wider gambling industry. There are various virtual horse racing apps now that feature NFTs in the form of horses that can be bought and sold. According to Startup Stash’s NFT list, there are loads of horse racing projects that gained notoriety in 2023 and could go bigger in 2024.
Dynamic NFTs are an interesting development and could start to make waves in 2024. Rather than remain as static images like traditional NFT artwork, these can evolve over time with changing visuals and adaptive functionalities. They can even incorporate progressive narratives according to Medium, with various ways for these to advance. For instance, when an NFT changes ownership it may evolve to the next stage of its cycle. This may be changing its image, or it could be introducing another element to the narrative.
The NFT scene could be about to blow up once again, and this time the online casino sector may not ignore it. NFTs could easily add another element to online casinos to make them attractive to a wider range of players.