Online crypto casino Gambulls is combining online gambling with NFTs. The company will be releasing 6673 NFTs later this month, on March 31, 2023, on Magic Eden. "The aim of the NFT release is to raise funds to fuel growth to dominate the online gambling market share increasingly," the iCasino said.
The Gambulls NFTs will possess considerable utility to be taken advantage of by the owner, according to the online casino platform. This includes free weekly cash prizes, rakeback, bonuses, the engage-to-earn program from the platform, and other exclusive benefits on Gambulls.
"Given the huge size of the Gambulls community, combined with fans and followers of Jelly Co, an initial NFT buyer wouldn't have a hard time selling them at the secondary market. Die-hard fans of Gambulls NFT, though, would hold on to it for the long term, as they can enjoy the NFT's utility," a press release reads.
Gambulls' NFTs work similarly to a membership card with smart contracts that guarantee their utility and value. "This makes the NFT incorruptible and reliable to the holders for providing the promised benefits," notes the iCasino. The Gambulls NFT collection has a verifiable number of minted NFTs. The collection comprises 6,673 Bulls, including 7 Legendaries.
The value of an NFT can be determined by how likely it is for one to hold a certain amount of traits. "For example, among the 6,673 NFTs, perhaps only a handful of them possess the green eye color. This makes the green-eyed Bulls rarer and a prized possession for NFT collectors to pay for," the business explained.
By utilizing NFTs, Gambulls will not only raise capital but also reinvest said funds back into the community by offering those incentives. "The NFT marketplace will be built with a strong focus on community, providing users with tools for social interaction, curation, and NFT discovery," said the online casino. "Greater accessibility, convenience, and exciting opportunities will be granted to those involved in the NFT marketplace."
Gambulls NFTs will go hand-in-hand with the Gambulls NFT Marketplace, which will be developed much later after the NFTs are released. The marketplace will employ three major blockchains — Ethereum, Polygon, and Solana. This allows users to easily switch between networks, explore a wide range of NFTs, and make purchases with their preferred cryptocurrencies that are network-compatible.
"The NFT marketplace will be built with a focus on community, providing users with tools for social interaction, curation, and NFT discovery," a statement reads. Greater accessibility, convenience, and exciting opportunities will be granted to those involved in the NFT marketplace."
According to the company, the raised capital will put into motion the anticipated Gambulls Metaverse. Gambulls NFT holders will control a unique avatar to mingle with other users and play online games together in real time.