Lockdowns and travel restrictions have impacted entertainment hubs across the globe. As people could not visit their favorite Las Vegas or Macau casinos, they turned to online destinations to play casino games.
Thanks to the popularity of blockchain-based online casinos, the blockchain gambling space is overwhelmed with users. As a result, gambling crypto tokens like WINk (WIN), FunFair(FUN), Decentral Games (DG) nearly tripled in value during this period.
In this post, we will discuss three major crypto projects. First, we will have a brief introduction of these platforms, followed by their recent price movements.
Let’s get started!
Formerly known as TRONbet, WINk is a gaming platform built on the TRON network that allows users to play, interact, and stake cryptocurrencies through several blockchain networks. WINk also offers a set of tools and resources for developers allowing them to create high-quality gaming DApps.
The native crypto asset of the WINk platform is represented by the ticker symbol – WIN.
WINk was the first DApp on the TRON network. Also, WINk was the first gaming project backed by Binance Launchpad. Currently, it has one of the highest numbers of active users and transaction volume across all major blockchains.
As for games, WINk has the biggest collection of blockchain games, including games like Poker, Dice, and Slots. This gaming catalog has attracted over 16,000 players on WINk’s platform.
Cointelegraph compared the historical and current market conditions of WIN using VORTECS, their exclusive algorithm. Their algorithm considers factors like market sentiment, trading volume, recent price fluctuations, and Twitter activity. After analyzing these data points, the algorithm assigns a score between 0-100, determining the health of the crypto token.
According to their VORTECS data, WIN started surging on March 16 with a score of 69. Later on March 18, it reached a score of 65 before rallying upwards to 90%.
Launched in 2017, FunFair is an Ethereum-based project aimed at creating a global blockchain casino gaming ecosystem. FunFair allows casino operators and game developers to launch fully customizable casinos on the blockchain for games like blackjack, slots, baccarat, roulette, among others.
Once a casino operator gets a FunFair license, setting a casino on FunFair becomes easy and inexpensive. Running a casino on the FunFair blockchain allows casino operators to save on server costs, bandwidth costs, chargebacks, and employee salaries. Most importantly, as FunFair is powered by Ethereum smart contracts, players feel more secure on FunFair when compared to other online casinos.
FunFair is powered by its native crypto token – FUN. All wagers, bets, and winning amounts are paid in FUN tokens.
As per the Cointelegraph Markets and TradingView data, FUN tokens gained over 1100% in the first two months of 2021. FUN tokens skyrocketed from $0.0048 on Jan 1 to $0.059 on Feb 3. During this period, the trading volume of FUN tokens from an average of $2 million to $93 million.
The February 3 surge was due to FunFair’s naming contest. In this contest, users were asked to suggest the best name for the newest FunFair character. The user with the best suggestion would receive 8,000 FUN tokens.
On March 11, 2021, FunFair announced a showcase for Payloads, their first multiplayer game. Thanks to this announcement, FUN tokens saw a 60% price rally.
Overall, market sentiment for FUN tokens has steadily increased throughout 2021. The fact that the trading volume and the price of FUN tokens are increasing seems to back this claim.
Launched in December 2020, Decentral Games is a first-of-its-kind casino DApps platform that is owned, maintained, and governed by DecentraL Games (DG) token holders. This is the first time, both in the casino and blockchain industries, that its users manage a platform.
At the core of this platform, there is this statement ‘Be the House’. This implies that be it treasury or the choice of games, users are in charge of everything. Also, Decentral Games has a public blockchain. Therefore, every result is fair and open for evaluation.
The Decentral Games ecosystem is based on dgTreasury and their native DG token. The dgTreasury is similar to house funds for casinos. Funds collected from the users are deposited in the treasury, and all winnings are distributed from the treasury. As mentioned, the treasury is public, and anyone can audit the transactions.
The platform is powered by the DG token, Decentral’s native utility tokens. DG token holders can vote on governance proposals, stake DG tokens to earn rewards, and provide liquidity to the treasury.
On January 2, 2021, DG was trading at $13.87. Since then, the DG token has rallied more than 4300%, reaching an all-time high of $633 on March 29, 2021. This price surge was caused by several major announcements made by Decentral Games, including their partnership with Atari.
Currently, the DG token is trading at $104.77, according to CoinMarketCap data.
Also, demand for virtual land and non-fungible tokens (NFTs) is increasing globally. Decentral Games is well-positioned to capitalize on this demand by integrating gambling protocols into the decentralized landscape.
Most importantly, Decentral Games encourages user participation in their network by providing governance rights to its token holders. This approach is unique in the blockchain-based gambling space. And it might result in the future adoption of Decentral Games among a massive user base.
Blockchain-based casino projects are becoming more and more popular among casino enthusiasts. Why? Because they are creating a win-win situation for both the users as well as casino operators.
Well, players cannot easily trust centralized online casinos. However, blockchain prioritizes transparency, thereby attracting more users. Other than this, blockchain-based online casinos are inexpensive to set up when compared to the traditional options. As a result, casino operators are shifting to the blockchain.
All these developments are adding more life to the crypto gambling space.