When you hear the word Casino, what’s the first thing that springs to mind? Vegas? Roulette? Ozark? Ouch? Regardless of your oral outcome, 9 times out of 10 there’s a negative connotation associated with Casinos and in the event you do hear winner-winner chicken dinner, the adrenaline addiction that comes hand in hand with winning tends to be short lived. As the saying goes, the house always wins, so why not invest in the house with a Slotie NFT.
Leading igaming and casino software company Elia Software is launched its first NFT project introducing gambling gamification to the rapidly growing NFT market, as well as reimagining the entire online casino ecosystem.
For those unfamiliar with the term NFT (non-fungible token), select pieces of this digitally encrypted artwork typically on the Ethereum blockchain can sell for millions. With Celebrities like Jimmy Fallon of The Tonight Show endorsing such projects as the Bored Ape Yacht Club with his $216,000 NFT purchase, it’s to no surprise the NFT market is booming. But what’s all the fuss about, it’s just a picture right?
Jimmy Fallon - BAYC #599
According to Elia Software “NFTs have a totally superficial rarity. With Slotie being an ultra-utility NFT, we designed the rarity so each trait made a difference, and the price of rare NFTs are justified by more than just aesthetic appearance”.
Sloties revolutionary approach to online gambling incentivises investors in the form of exclusive holder rewards. Not only can holders expect to accumulate daily WATT tokens (Slotie currency) and a share of partnered casinos revenue, holders can stake their NFTs, take advantage of a 20% rakeback guarantee, breed Sloties to increase WATT yield and revenue, as well as win cash prizes, additional NFTs or free spins in a weekly lottery.
According to grandviewresearch.com increasing investment in online gambling and the growing number of live casinos across the globe is driving market growth exponentially, with the global online gambling market expected to grow at a rate of 11.5% from 2020 to 2027 to reach USD 127.3 billion by 2027.
Elia Software has ambitious aims with Slotie NFT and told BitGoss “In 5 years we see Sloties as the #1 metaverse Casino Game. We are creating more than an NFT. We are building the best web3 gambling experience.”
With an established network in excess of 150 casinos including Fortune Jack and Crocobet, “owning a Slotie NFT can be seen as a partnership deal between holders, casinos, and Elia Software. Casinos pay 12% of their slot machines’ revenue as a commission to us for executing and distributing high quality gaming solutions and in turn we share 80% of our NFT-based slot machine revenue to the Slotie owners on a monthly basis.” of which each Sloties share is determined by the NFTs rarity.
Mathias Kozlowski, Head of Business Development at Elia Software said “The NFTs started to become valuable assets in the gambling industry. The idea of winning NFTs in the slot games is attracting more and more users”.
Data analysed and published by Wette.de claims the global NFT market has a market capitalisation of $43.08 billion and its trading volume is around $3.6 billion. Evidently, Elia have identified a gap in the market and by introducing both smart contracts and unparalleled NFT utility to online gambling are able to capitalise on the growing demand for such services.
So what will a Slotie NFT cost you? Well, for those lucky enough to have secured themselves a place on the whitelist they saved 50% paying just 0.08 ETH (approximately $365 at time of mint) as opposed to 0.16 ETH for the public sale and with only 10,000 Slotie NFTs up for grabs, it's to no surprise the project sold out in just 5 minutes.
With the floor price currently sitting at 0.75 ETH, whitelisters have already 9x their initial investment. Further to the above, the developers behind the project also saved investors thousands of dollars on gas fees with their unique ticket sale process, allowing people to mint between 1 and 10 Sloties in one hit for less than $100. With the reveal pending (Wednesday 15th December) and a current OpenSea chart rank of 15, I think it's safe to say we can expect exceptional things in the future from Slotie NFT.