Will Bitcoin Gambling Come to the NFT Space?
Could the best Bitcoin Blackjack sites benefit from the NFT space? After all, Bitcoin blackjack sites could offer blackjack NFTs to their VIP players as a form of incentive. Blackjack sites could also use NFTs in many other ways that could benefit you. Let’s see how.Accelerators open to innovations in the NFT spaceOne of the best indicators that a market/industry/space is growing is when people start putting their money where their mouth is. Nowhere is this more evident than when you see a tech accelerator investing in an industry. The more tech accelerators trying to find talent in a certain sector, the more likely that sector is to develop. It’s a self-fulfilling cycle. Let’s take a look at how many accelerators are investing in the NFT area and if any of them also happen to search for companies involved in online gambling as well. Quick primer:Before we dive in, let’s make sure we’re all on the same page. An NFT is a non-fungible token. Forbes writes that NFTs are “provably scarce digital assets representing a range of commodities such as artwork, gaming collectibles, and even real estate – both in the physical and virtual space.” Forbes also goes on to make a very important note:“Detractors, though, have been less than convinced, citing concerns centered on the inability of NFTs to stimulate real-world volume – unlike crypto assets. The weekly volume of the NFT market currently stands at $8.2 million. By comparison, weekly trade volume on bitcoin futures alone surpassed $500 billion during the month of January.”To sum up: NFTs are tokens like cryptocurrencies except each token is unique and cannot be substituted with another NFT (because they might have separate values in the past, present, or future). Forbes cites that detractors say there may be no future to NFTs but the only argument is that the NFT market is not as large as cryptocurrencies. But that’s a weak argument because all new markets start off small. Imagine if you play blackjack at one of the bitcoin blackjack sites mentioned in the article linked at the top — and the site offers to give its VIP players a pack of blackjack cards that are also NFTs. These NFT blackjack cards are collectible and tradable because they live on a blockchain (most likely Ethereum) and they can be traded and bought and sold on markets like Opensea. Your interest would be piqued and you’d start investigating if you should keep them, buy more to complete your set, or sell them to a different collector. Already you can see the potential of the NFT market when Bitcoin gambling joins it. So those detractors don’t have much of a leg to stand on. Now that we’ve finished the primer, let’s see a shortlist of accelerators that might be interested in finding innovators and entrepreneurs who will bring Bitcoin gambling into the NFT space. F10 — Based in Zurich, Singapore, Madrid, BarcelonaF10 is an accelerator with offices in Zurich, Singapore, Madrid, Barcelona. They’re an international team looking for “startups with a prototype in FinTech, RegTech, or InsurTech.”They offer six-month programs that require at least two people from each startup to attend, even now during COVID worries.They only offer 15,000 dollars to reimburse expenses but then offer $150,000 if your team is one of the best at the end of the program. Thankfully they only seem to take 1% equity. The LAOThe LAO is a fascinating accelerator. It’s fascinating because it doesn’t require teams to relocate or give up equity. Instead, the LAO is far more democratic and opens its decision to the members belonging to the investment group within the LAO:“Members provide $50,000 to $100,000 in support for projects (if not more). Funding is provided in Ether. If a member is interested in funding your project, they can put it up for a vote and, if more members vote to support the project than no, during a 7 day voting period, the investment will be committed.”Next Commerce Accelerator NCA is another accelerator based in Europe. They are located in Hamburg, Germany. They offer up to 50,000 euros in exchange for 8% equity. This is quite steep when compared to other accelerators, but it’s fascinating to see them offering this to developers of NFTs, VR, and other technologies that will someday come to bitcoin gambling. If You’re Looking to get into NFT & BTC Blackjack The listed accelerators above are only several of dozens more that focus on new innovations in the cryptocurrency space. It shows that investment funds are seeing the future of NFTs, a future that looks ready to spill over into Bitcoin Blackjack sites and other gambling sites. So how should you prepare?There are plenty of resources available for beginners to the NFT space. But if you’re already used to Bitcoin transactions and use them for one of those blackjack sites listed in the article at the top — then you already have the basics for using NFTs.Just remember to have your crypto and NFT wallet keys secure and backed up.