How Will NFTs Affect the iGaming Industry?


The term iGaming covers everything from the early adventure quest type of games to simulators, to online casinos, and even live casino games at Casumo. Very few people aren’t affected in some way by this rapidly growing industry and the technologies it uses.

There are already many online casinos accepting cryptocurrencies as payment, so the logical next step is to expand the uses of blockchain, which is the basis of all crypto.

What Are NFTs?

Non Fungible Tokens (NFTs) are unique, non-exchangeable digital representations of ownership recorded on a blockchain ledger. They differ from cryptos like Bitcoin in that while every Bitcoin holds the same value and they are interchangeable, each NFT is unique, reflecting the distinctness of its underlying asset.

How Are NFTs Used?

Examples of uses are digital art or written content, lottery tickets, and in-game items.  

We can use NFTs to represent ownership of any unique item – either digital or physical.

Blockchain is already being used to record changes in ownership of items like jewelry and diamonds. It’s a small step to use NFTs as proof of ownership of any asset.

From proof of ownership of digital assets like avatars and in-game tools and treasures (which you could sell on afterwards, potentially at a profit) to lottery tickets,  it seems the possibilities for NFTs in iGaming are endless.

Lottery Tickets

Platforms like OpenSea already use NFTs to represent lottery tickets where the prizes are ETH coins. We expect to see more of these in the future. Another use could be to represent tickets to sports events.


The new crypto-collectable phenomenon is proving to be a lucrative business for developers, investors and players. In fact, some of the most popular games on the market are now NFTs. The basic premise of these games is that players collect, trade or even battle with these digital assets that represent something other than money. For example, CryptoKitties are digital assets that represent digital cats. Players buy and sell these assets using Ethereum, which creates demand for ETH.

The Effects on iGaming

The use of blockchain technology in iGaming is still controversial, with some platforms like Steam banning its use entirely. Other companies have already embraced these technologies in innovative ways. 

Final Thoughts

Whichever way it turns out, there’s no doubt that NFTs are disruptive for iGaming and that blockchain technology will likely become more pervasive. Companies like Animoca Brands are already developing blockchain-based games have a whole community with a proof-of-gaming blockchain and NFTs.