Practical Use of NFTs as a Way to Deposit and Withdraw Funds

Gambling operators are increasingly introducing non-fungible tokens into payment systems, turning them into convenient tools for replenishing accounts and cashing out prizes.

Online Casino Market experts talk about the features and advantages of NFTs, as well as their prospects and future in 5–10 years.

About the Solution

Non-fungible tokens are unique digital assets stored in the blockchain. Within the framework of iGaming platforms, they are used not only as a collectable item or internal bonus, but also as a means of payment or access to selected services.

In fact, NFTs act as a virtual wallet or a key with the help of which players can:

• make deposits;
• withdraw winnings;
• get access to exclusive entertainment, tournaments, or VIP rooms;
• receive cashback and incentives assigned to the token.

The use of the tool as a settlement method is a new phenomenon in the online casino industry. Most often, it is applied together with other, more traditional options. These are account replenishment in cryptocurrency or stablecoins and the introduction of money via bank cards or e-wallets.

Today, a financial service with NFTs is a hybrid structure that combines several components:

• fast and secure transactions;
• gamification elements;
• new revenue streams;
• attractiveness to the crypto audience.

Using non-fungible tokens, operators can not only modernise the payment infrastructure but also create an ecosystem with unique value for gamblers.

Features of NFTs as a Settlement Method

Let us consider the key characteristics of the concept.

Uniqueness

The main difference between such coins and conventional cryptocurrencies like Bitcoin or Ethereum is that each token is an exclusive element. If one BTC is equal to another, then two NFTs will never be identical.

In the context of online casinos, this means that a digital asset can have not only financial worth, but also additional benefits, such as:

• be a pass to the VIP room;
• open access to exclusive free spins;
• contain generous multipliers and other support functions.

Thus, tokens become not just a means of payment, but real funds with numerous advantages for entrepreneurs and players.

Link to the Blockchain

Each NFT is stored in the distributed ledger environment, which means that all transactions with its participation are absolutely transparent and securely protected. Casino owners cannot even theoretically counterfeit a token or cancel a completed operation, as sometimes happens in traditional financial systems.

This approach ensures a high level of trust between gambling establishments and their clients. All transfers are verifiable, and the risks of fraud are minimised.

Compatibility

NFTs can be stored in popular cryptocurrency wallets such as MetaMask or TrustWallet. Clients gain full control over their assets and can use them on different platforms if they support this settlement method.

That removes the restriction of “tying” bonuses or virtual coins to a specific account, making the gameplay more flexible, engaging, and interesting.

Support from the Marketplaces

The undeniable advantages of non-fungible tokens also include the possibility of free trading.

Customers have the right to buy digital assets with rewards or exclusive access, and then sell them on portals such as OpenSea. Thanks to this, internal currency receives a real market value, and online casinos turn into a full-fledged ecosystem.

Winnings and collections can be monetised outside the entertainment site, thus receiving a good and stable remuneration.

Benefits of Using NFTs

Let us consider why it is profitable for entrepreneurs to choose this payment method.

Involvement of a Crypto Audience and Millennials

In recent years, digital assets have become part of the daily lives of millions of people. This is especially evident among Gen Y and Generation Z, who are more likely than others to prefer modern technologies and quickly comprehend innovations.

Support for NFT payments allows online casinos to go beyond standard deposit options and offer gamblers something that meets their current interests and needs.

Account replenishment and withdrawal of prizes in non-fungible tokens make entertainment portals attractive to those clients who like:

• blockchain technologies;
• high speed, anonymity, and transparency of transactions;
• virtual property.

As a result, websites get new customers and earn the image of innovative platforms ahead of their competitors.

Gamification and Loyalty

The use of NFTs as a settlement method opens up wide opportunities. A digital token can be not only a way to transfer funds, but also part of an effective bonus system.

Scenarios for implementing the tool in a loyalty program:

• collection of several unique coins opens access to the VIP lounge;
• making a deposit using digital tokens activates additional free spins or increases cashback;
• possession of a rare NFT secures the person’s status as a privileged client.

Thus, a traditional payment is quickly turning into an important element of the gameplay. Casino visitors do not just top up the balance and spin the reels in slots, but participate in an exciting bonus system. Each of their assets has value and offers new opportunities for earning.

Additional Sources of Monetisation

NFT transactions allow operators to get profit from bets or commissions, and also by issuing unique tokens:

• exclusive club cards;
• VIP passes;
• limited collections with special rewards.

Gamblers purchase such NFTs as an investment, since they can be resold on third-party marketplaces.

For online casinos, this is an additional source of income and a way to increase audience engagement. Users are beginning to perceive such platforms as part of the digital economy, not just as entertainment sites.

Reduced Transaction Costs

One of the main advantages of using non-fungible tokens as a settlement method is significant cost savings for the transfer of funds.

Traditional transactions via bank cards or e-wallets often come with high commissions and longer processing times.

NFT payments are made directly through the blockchain, due to which:

• transfer fees are minimal or non-existent;
• account replenishment and withdrawal of prizes are instant;
• players from different countries get access to a fast and convenient service.

For online casinos, this leads to a lower cost for maintenance of financial gateways (commissions or rent). Entrepreneurs can offer gamblers more attractive conditions and stand out from the competition.

Great Demand from Customers

Advantages of using NFTs for bettors:

1. Anonymity. People do not need to enter confidential data since all transactions go directly through the cryptocurrency wallet.
2. High speed. Deposits and payments in the blockchain environment are carried out faster than, for example, bank, mobile, or e-wallet transfers.
3. Possession of the asset. Non-fungible tokens remain the property of players outside the entertainment portal, unlike traditional bonuses that are “tied” to user accounts.
4. Exclusivity. Rare NFTs open access to unique promotions and increased payouts.
5. Investment attractiveness. The value of virtual coins can grow over time, and users can make money from their resale.

Which Gambling Platforms Already Accept Digital Assets

Let us consider the experience of entrepreneurs focused on the crypto audience:

1. BC.Game Casino. This is one of the first online resources to add NFTs as a payment method. The portal’s clients can deposit funds through coins from the BAYC, CryptoPunks, Doodles, CLONEX, or mfers collections. The operator also has its utility non-fungible token called Degen Pass, which opens access to bonuses and a series of jackpots.
2. Rollbit Casino. The platform has created unique collections: Rollbot and Sports Rollbot. Holders of these assets can receive generous rewards, participate in lotteries, and place bets in special slots (Rollbot Bonanza).
3. Wagmi Casino. The brand has developed its NFT series (about 4,800 unique coins), with bonuses, monthly airdrops, and VIP statuses.
4. Cloudbet. The website has integrated non-fungible tokens into its promotions. Gamblers can collect rewards, exchange them for incentives, or trade them on the internal marketplace.

The Future of NFTs as a Settlement Method in Online Casinos

Let us consider how this trend will develop in the next 5–10 years.

Extension of the Web3 Environment

Non-fungible tokens are just beginning to be utilised as a means of payment, but are already extremely popular in the entertainment market.

Experts predict the following changes:

• Transformation of NFTs into a full-fledged loyalty tool. Transactions will simultaneously open access to bonuses and unique content.
• Modifications in reward programs. Players will receive digital assets instead of traditional incentives.
• Digitalisation of VIP systems. The exclusive status will be assigned to clients in the form of non-fungible tokens, which can then be used on various gaming sites.

Metaverses and Virtual Casinos

With the development of Decentraland, Sandbox, and other environments, projects of a new format will appear.

Virtual establishments will operate on the principles of play-to-earn and own-to-earn:

• customers will be able to buy digital shares of iGaming companies and receive part of their profits;
• NFT owners will actually become co-investors and partners of entertainment brands;
• casinos in the metaverse will be virtual clubs with huge social communities.

This format will take gambling to a new level. Users will not only place bets, but also participate in the platform’s development and monetisation.

Standardisation and Regulation

In the coming years, we can expect the following events:

1. Inclusion of NFT payments in the legislative framework. They will become an officially recognised and protected settlement method.
2. Introduction of uniform standards. Large providers will develop common rules for the circulation of non-fungible tokens so that players can safely use them on different portals.
3. Increased trust of customers. Thanks to comprehensive regulation, the risk of fraud will be reduced, and the rights of clients will be protected.

Integration Into Everyday Life

In 5–10 years, NFT payments will become much more convenient and familiar than they are now:

• non-fungible tokens are to be integrated into standard crypto wallets and banking applications;
• account replenishment or withdrawal of funds using NFTs will become instant and intuitive, literally in a couple of clicks;
• Players will be able to use the same virtual asset in different online casinos and applications, like a universal digital key.

Investment and Gaming Ecosystems

The main direction of the tool’s development is combining bets, investments, and loyalty programs into unified systems.

In the future, tokens will turn into virtual assets with high value. Clients will be able to use them in the game, store them as investments, or choose to sell. Each coin will receive its unique significance: from status or bonus to real profit.

The Main Things about NFTs as a Payment Method

Deposition and withdrawal of funds using non-fungible tokens is a promising direction in the iGaming industry.

Key aspects that operators should take into account:

• The advantages of the solution include attracting a crypto audience and millennials, building a modern loyalty program, and reducing transaction costs. Entrepreneurs receive additional monetisation sources and popularise their brands in the international market.
• In 5–10 years, the Web3 environment is expected to expand, NFTs will be integrated into everyday life, and new gaming ecosystems will appear. Great attention should also be paid to issues of standardisation and regulation since they can make non-fungible tokens a full-fledged and legal financial instrument.

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