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NFTs and the future of fan engagement: How NFTs can boost engagement with sports brands
By: Evgeniy Babitsyn, Chief Marketing Officer, Bets.io
The sport industry finds itself amidst its own digital transformation journey with the introduction of new technologies, and at the forefront of this digital shift are NFTs – otherwise known as Non-Fungible Tokens.
NFTs can represent any kind of digital item, and in recent years have commonly been used for quirky collectibles and art work – but they now enter the sports arena in a unique way. The beauty of NFTs is the unique metadata and ownership information which is tracked via blockchain, making them a one-of-a-kind digital collectible that cannot be duplicated. As a result of their collectible nature, it’s only natural that NFTs caught the eyes of eager sports enthusiasts and die-hard fans.
In fact, according to Deloitte research, around 40% of Gen Z and millennial sports fans are at least somewhat familiar with the use of NFTs and fan tokens in sports.
But why is that? And how can they boost engagement?
NFTs are rapidly emerging as a powerful tool for sports brands in driving deeper fan engagement and unlocking new revenue streams. This is because sports fans are, by nature, competitive and eager to own exclusive content from their much loved players, teams and brands. They want to be part of the action.
By playing on this feeling, and reinforcing loyalty among fans in this way, sports brands have a huge opportunity to take their revenue streams to new heights and gain a competitive advantage over other brands.
Imagine an athlete releases a limited-edition NFT that represents the most iconic moment in their career, such as the winning shot or a record breaking performance. Fans who own that NFT can then access exclusive content related to that moment including behind-the-scenes footage or interviews.
There really is no limit to these tokens, and depending on the asset, they can be much sought after. As more and more sports fans embrace the digital tokens, sports brands are quickly learning that there is huge potential for fan engagement, if they continue to innovate with this technology.
Taking collectibles to the 21st Century
Sports memorabilia and collectibles have for centuries been a way for fans to feel more connected to their favourite teams and athletes. And now thanks to the advances of technology – more specifically, blockchain technology – fans can collect within the digital realm, gaining access to truly “own” unique digital items and experiences.
Beyond just digital art or collectibles, NFTs can also integrate the idea of gamification, exclusive content and experiences into their NFTs – allowing fans to engage more actively while unlocking new revenue opportunities.
The possibilities are endless, extending far beyond just digital collectibles. They can provide fans with access to exclusive digital or in-person experiences, events and merch as well. Think front row seats or the chance for a meet and greet post-game.
With this, NFTs provide an excellent way for brands to diversify their revenue streams by monetising their content and intellectual property strategically.
It really is win-win, fans can own a piece of their favourite team’s history while supporting their team financially. And sports brands can benefit from more loyal fans.
Transforming the fan experience
Engagement is everything to sports brands. After all, the fans are really the most important stakeholders in the end. And offering NFTs can be a powerful tool in fostering deeper engagement within fan communities. NFTs provide more innovative ways for fans to connect, prove their loyalty and gain recognition for their allegiance.
Let’s look at NBA Top Shot. NBA Top Shot is the perfect example of a blockchain-based platform that allows fans to own and collect officially licensed NBA collectibles digitally. The platform offers exclusive collectibles including videos of the biggest NBA moments and highlights.
And football teams are also following suit. Manchester City, PSG, FC Barcelona have all joined in on the NFT hype – offering their own NFT collections for keen supporters such as worn jerseys, trophies and more.
Sports Betting and NFTs
And when it comes to sports betting, NFTs take the iGaming experience to the next level. Fans can purchase NFTs that represent specific bets, such as the winner of a particular game or the performance of a specific player. These NFTs can then be traded or sold, just like other NFTs, providing a new level of flexibility and excitement for betting.
The use of NFTs in the sports industry is still in its early stages, but has already shown great potential. We can expect more applications to come in the world of sports – including at Bets.io. Watch this space.
Looking ahead, the future is incredibly promising for sports brands who leverage NFTs within their business operations. Those who embrace these new powerful ways to inspire fans and forge deeper relationships with their communities, will see their efforts translate into business value.
The post NFTs and the future of fan engagement: How NFTs can boost engagement with sports brands appeared first on European Gaming Industry News.
1spin4win, a fast-growing provider of online slots, is excited to announce the release of its latest slot game, Buffalo’s Wealth. This new game transports players to the American Southwest, where they can meet its inhabitants and embark on a quest for gold in the thrilling bonus spins feature.
This theme, already popular among players worldwide, adds a unique touch to the studio’s portfolio while maintaining the classic, minimalist design 1spin4win is known for. This straightforward design lets players fully engage with the gameplay, free from any visual noise.
The essence of the American Southwest is captured right from the start with high-paying symbols like the mighty buffalo’s head, red horse, black leopard, and bald eagle. The Grand Canyon Scatter and lower-paying wooden letters further enrich the experience.
Players spin wood-carved reels set against the backdrop of the expansive Grand Canyon, aiming for winning combinations across 243 ways. When 3, 4, or 5 Scatter symbols appear, the Bonus Spins game is triggered, awarding 7, 10, or 15 free spins. During the Bonus round, players can collect 3 or more Golden Nugget symbols, each adding to the total winnings.
“Our goal with Buffalo’s Wealth was to create a game that immerses players in the rich culture and breathtaking landscapes of the American Southwest,” said Olga Bogdanova, Art Director at 1spin4win. “By focusing on authentic design and engaging gameplay, we’ve crafted an experience that captures the region’s spirit and offers players exciting and rewarding adventures. We believe Buffalo’s Wealth will become a favorite among our players and a standout title in our collection.”
About 1spin4win
Established in May 2021, 1spin4win has rapidly grown popular among players worldwide. Renowned for its monthly releases, the studio excels in creating classic slot games that are not only engaging but also built on robust and fair mathematical models, ensuring an optimal iGaming experience.
The e-sports are at a boom across the world. While people worldwide are getting to e-sports, many want to bet on these. E-sports betting is possible with cryptocurrencies as well! But how? Is it safe to use cryptocurrency for e-sports gambling? How can you avoid crypto wallet and transaction scams? Let’s explore the world of e-betting with cryptocurrency and help you with all your doubts.
Is cryptocurrency safe to use for e-betting?
You can refer to coingambling.info as a platform where you can find brands that use cryptocurrency for e-betting. Here are the reasons:
- Security: Blockchain forms the foundation of cryptocurrency, providing top-notch transaction security. You can’t mess with crypto bets at all — blockchain’s see-through nature and spread-out structure ensure that! The transparent decentralized blockchain setup has a huge impact on keeping cryptocurrency wagers tamper-proof.
- Privacy: Cryptocurrency gives users more privacy than regular money transfers and is quicker, too. When you bet online, crypto deposits and withdrawals beat old-school bank transfers hands down, they’re way faster.
- Faster transactions: Crypto transfers beat old-school bank methods hands down when it comes to speed. Players can deposit and cash out from betting sites much quicker using digital currencies.
Cryptocurrency e-betting is a secure option due to its use of blockchain technology. You can place bets, move money in and out, and enjoy e-betting thrills without much worry. However, using crypto for e-betting does have some drawbacks too. Some of them are:
- Volatility of the cryptocurrency: Crypto prices often fluctuate. Your bet’s value can shift fast, affecting how much you might win or lose.
- Security risks: While cryptocurrency itself is safe, if a secure wallet or exchange is not used, you might get scammed.
- Rules and regulations: Regions around the globe have different rules and regulations for cryptocurrencies. You have to ensure that you choose the legal cryptocurrency wallets and exchanges in your region.
While these cons can be daunting, there is a solution to everything. You can enjoy the excitement of online betting without stressing over crypto price swings and safety issues. Let’s explore how.
How Can You Safeguard Yourself Against Cryptocurrency Wallet And Exchange Scams?
Even though cryptocurrency is safe to use for e-betting, you still can land into a scam. Here’s how you can safeguard yourself from cryptocurrency wallet and exchange scams:
- Stick to reliable crypto platforms for trading and storage. Avoid sketchy wallets that might turn out to be cons. Exodus, Coinbase, and CoPay rank among the top trusted options for buying, selling, and keeping your digital coins safe. These reputable services have a proven track record in handling cryptocurrency transactions.
- Use 2FA methods, such as a code sent to your phone or an authenticator app, to safeguard your wallet. This adds an extra layer of protection above the passwords.
- Keep your private keys private! Don’t share them with the wallet or exchange’s customer support. If someone asks you for the private key, it is potentially a scam.
- Do not click on suspicious links or attachments sent via mail. They can be phishing attacks that the scammers use to scam you.
- Keep updating your software. Software updates also roll out security updates, which can provide extra protection for your account.
- There’s nothing like ‘Get Rick Quick’ in e-betting. If something is sounding too good, it’s too good to be true. Don’t fall for such traps.
Cryptocurrency betting reshapes the betting world, and fraudsters push boundaries to break in. You must maximize your wagers and dodge the cons. The responsibility falls on you to make smart bets and protect yourself from tricksters. Scammers show they’ll do anything to cheat the system. It’s crucial to stay alert and get the most from your bets while avoiding scams.
How To Protect Yourself From The Volatility Of Cryptocurrencies?
Cryptocurrencies are highly volatile! You can protect yourself from the volatility by diversifying your crypto portfolio. Also, every e-sports betting platform might not be accepting each cryptocurrency. Some might be accepting Bitcoin and Ether, while others might be expecting Litecoin and XRP. Having a diversified portfolio of cryptocurrency can help you have a chance to bet on multiple platforms. Additionally, you can choose the cryptocurrency which will return the best results for you.
What are the types of e-sports available for betting?
People know Counter-Strike: Global Offensive as an e-sport game. However, many other e-sport games exist. Call of Duty, Apex Legends, and StarCraft are examples of popular e-sports. You can place bets on these games too. These games offer chances to gamble as traditional sports do. Fans of competitive gaming now bet on e-sports. Bettors can pick their favorite genre due to the wide range of games available. E-sports fans can bet on many game types, including first-person shooters and strategy games. Pro E-sports gambling resembles traditional gambling. Parents need to protect their children from potential risks. The growth of e-sports and e-betting will boost cryptocurrency usage for online betting transactions.
The post Safe Use Of Cryptocurrency For E-gambling appeared first on European Gaming Industry News.
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ThrillTech Partners with Coolbet to Provide Jackpot Solution, Enhancing Player Experience
ThrillTech is pleased to announce a strategic partnership with Coolbet, a leading online gaming company, to integrate ThrillTech’s innovative jackpot solution into Coolbet’s platform. This collaboration aims to elevate the player experience and drive engagement on the Coolbet platform.
According to ThrillTech’s CTO, Peter Mares, “We are thrilled to support an esteemed brand like Coolbet on their journey towards expansion and enhanced player offerings. Our cutting-edge jackpot solution is designed to captivate players and deliver a thrilling gaming experience.”
Coolbet’s President, Endre Nesset, expressed his enthusiasm for the new partnership, stating, “We are excited to introduce this new product to our brand, enabling our players to enjoy bespoke jackpots designed to elevate their gaming experience. This collaboration with ThrillTech aligns with our commitment to offering top-notch gaming entertainment to our valued customers.”
The integration of ThrillTech’s jackpot solution into Coolbet’s platform signifies a step forward in providing an enriched and personalized gaming experience for players. Stay tuned for more updates on the exciting developments resulting from this partnership.
The post ThrillTech Partners with Coolbet to Provide Jackpot Solution, Enhancing Player Experience appeared first on European Gaming Industry News.
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