Slotie NFT is Building Community to Reshape Gambling Industry
18 November 2021 - 01:23PM
NEWSBTC
According to reports, the gambling industry is worth billions of
dollars. The gambling industry was estimated to have a market cap
of 53.7 billion USD in 2019 and to grow at an 11 percent annual
rate from 2020 to 2027. Although gambling has been a popular social
activity since the 9th century in China, to the 17th-century card
game, poker, the internet has significantly impacted the gambling
sector based on the Persian game As- Nas. Online casinos and online
gambling have become very popular in today’s world, and they have
played a significant role in increasing the gambling sector’s
market capitalization and driving user growth. With the
introduction of blockchain technology, the online gambling industry
appears to be poised for another surge. The gambling industry is
currently highly centralized, which has resulted in a lot of
friction between users and online casinos, betting companies, and
so on. The use of blockchain technology eliminates the need for an
intermediary to place bets. This article will look at Slotie, a
fast-paced blockchain-based online casino, and how it intends to
redefine the gambling industry. The Current State Of Online
Gambling Currently, the gambling industry is highly centralized,
with bookmakers deciding the fate of users in the gambling world.
Over the years, numerous reports have been filed against online
gambling companies for questionable and unfair practices. There
have been reports of slow payouts, users being cheated out of their
winnings, and bookmakers abusing their power over the system by
manipulating gambling events. These issues have become a source of
concern, and if not addressed promptly, they will stifle user
growth in the online gambling industry. Incorporating decentralized
finance in the gambling industry could be the solution that the
gambling industry sorely requires. Sloties, An Utility-Based NFT
Project With the plethora of issues currently plaguing the gambling
industry and the crux of the majority of these issues being linked
to centralization, it is a no-brainer that the gambling industry
requires decentralization. Additionally, many industries have
been disrupted by decentralization and blockchain technology, which
provides a trustless and permissionless system and eliminates the
need for a third party. Slotie seeks to disrupt the gambling
industry by introducing blockchain technology and NFTs and
providing unique betting features for players and the opportunity
for the investors to co-own the casinos’ house edge. Sloties are
over ten thousand individually generated NFTs on the Ethereum
blockchain with the primary goal of providing utility in the
gambling industry. Sloties are built on the ERC-721 standard, which
also powers digital collectibles and the majority of utility NFTs.
The recent NFT craze has drawn users to NFT-based slot machines,
where you can win NFTs rather than cash. Slotie’s slot machines
allow slotie holders to become shareholders of the casino’s house
edge and earn incredible rewards. As a slotie NFT holder, you can
stake NFTs into slot games and earn rewards from casino players
hoping to win the NFTs staked. By staking Slotie NFT’s, the NFT
community has the opportunity to become the “house” in 150 casinos.
In addition, the passive income made monthly from casino players is
distributed to the NFT community every month. Being a Slotie NFT
holder offers some benefits, including: Staking Rewards: Slotie
community members can provide Slotie NFTs as liquidity for slot
games. When a slotie NFT is added to the slot games, the value is
automatically calculated and suggested to the NFT holder. If the
NFT is lost to a casino player, the holder receives the amount
calculated by Slotie’s algorithm. Thus, NFTs can be staked in slot
machines by all holders equally, and the value of the NFT itself
determines the house share. Passive Income: Aside from staking
rewards, being an NFT holder allows you to enter lucrative
partnership deals with other casinos and Elia software. NFT holders
receive 80% of the monthly revenue generated by Slotie owners.
Passive income is a critical component of Slotie’s ecosystem,
providing Slotie NFTs with multi-utility use cases. Keep in mind
that passive income rewards are permanent and come with no risk to
NFT holders. VIP MEMBERSHIP/RAKEBACK Aside from passive income
streams and staking rewards, another unique benefit of Slotie’s
project is the opportunity for NFT owners to receive VIP membership
at 150+ partner casinos. VIP members also receive a cashback
guarantee, which can be as high as 20%. This is known as rakeback.
Slotie owners will be reimbursed 20% of all lost bets with a
Rakeback. Rakebacks are paid from affiliate commissions collected
by all partner casinos. This Slotie’s Development Slotie has built
a robust community in a short period, and it is constantly growing.
In just five days after launching their Discord server, Slotie had
over 10,000 members. Slotie is a very promising NFT project, and
its utility NFT use cases play a significant role in this
unprecedented growth. Slotie’s presale and public sale of its NFTs
are scheduled for Q1 2022, and the project has been dubbed one of
the fastest-growing NFT communities this year by some. Final
Thoughts Slotie’s rapid growth and distinct vision for the online
gambling industry exemplify the level of innovation and
possibilities made possible by NFTs and blockchain technology.
Slotie intends to use blockchain technology to alter the gambling
industry’s narrative and usher in a new era of trustless,
permissionless online gambling.
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