How Crypto Casinos for Tokens can Help Your Token Project Stand Out
The future of finance is upon us and an under looked tool for crypto projects is offering their communities a crypto casino for tokens. The advent of cryptocurrency and blockchain technology has brought the world an entirely new way to look at what money and assets mean at both a micro and macroeconomic level. Since Bitcoin was first introduced to the world in 2009, blockchains and token projects have emerged to tackle everything from decentralized finance (DeFi) to data & record storage and even video games.
In fact, as of April 2023, there are over 23,000 different cryptocurrencies in the world. And more pop up on a daily basis! That’s a big number, especially when you consider that there are only 180 different fiat currencies that exist in the world today. You read that correctly. There are over 100x as many cryptocurrencies and tokens in existence today as there are fiat currencies controlled by central banks across the globe. With so many projects battling for popularity, how can yours stand out among the crowd and develop an engaged community?
Crypto casinos for tokens
We previously wrote about The Case for a Custom Crypto Casino in Token Roadmaps. In this article we’ll dive a little further into the reasons why a white label crypto casino for tokens can help token founders and cryptocurrency projects stand out among the crowd. To start, the main reasons that a crypto casino can help your project stand out are by providing a new use case for your token, it can help you reward your community, and can showcase your brand personality in a unique way.
A new use case for your token
One of the best ways that crypto projects can help stand out among the competition is to provide a use case for their tokens or coins to their communities. In many instances, the only purpose of token projects is price speculation. Traders and investors come to your project to buy tokens in the hopes of selling at a later price. Speculation isn’t a utility.
While speculation still occurs with fiat currencies on the Foreign Exchange Market, the real utility of fiat currency lies in the fact that you’re able to buy goods and services with it. With tokens – especially ones that haven’t been adopted and reached maturation – you can’t buy things. This only leaves holders of the token with the ability to speculate and trade on the price of the token.
By providing the ability to play games like Blackjack, Roulette, Dice, or popular crypto-centric games like Crash, crypto casinos for tokens can allow your community to utilize your token in an entertaining way and use your token for more than price speculation.
Use your crypto casino to reward your community of holders
Crypto airdrops are also becoming more popular among the crypto and NFT communities. Airdrops are often used as marketing initiatives to encourage adoption for a token project. It involves sending your community free tokens to encourage them to stick with and engage with your project.
A cool way that token founders can reward their community is by airdropping a portion of the proceeds that they generate from their crypto casino to their community. The percentage of profits that your project can airdrop to your community is entirely up to you. You can airdrop 5%, 15%, 50%, or 90% of all profits and redistribute them to holders in your community. If you do not wish to do airdrops with the profits generated, an alternative could be to use the casino or sportsbook’s profits to remove tokens from circulation by burning them, which in turn also helps stabilize your token’s trading price by adding a steady supply of bid support.
Plus, by redistributing a portion of your profits you can ease concerns from your community that your crypto casino is only a way for the project’s founders to make money. You can also take a percentage of the profits and reinvest them into your own project to support the continued development of your token.
You’ve spent a lot of time developing your brand for your token project. You’re active on social media, have great graphics, and send out newsletters, but there is another way that you can showcase the awesome brand that you’ve built. Custom crypto casinos for tokens are a great way to display your brands colours and logos in an exciting way.
With Lion Gaming’s custom online casino software, you can create Blackjack tables or Crash games that look completely different from the other games available to crypto gamblers. Our solutions give you the ability to customize everything from the table felt to card designs in a way that represents your project and your brand.
Interested in learning more?
Interested in learning more about starting a crypto casino for your project? Contact us here or email us at [email protected] to get started.