Posted on: June 8, 2022, 12:45h.
Last updated on: June 8, 2022, 01:48h.
Cyprus-based DeFi gaming platform “Lucky Crypto” has launched the industry’s first metaverse-based non-fungible token (NFT) slot machine. That’s as part of the release of two Lucky Degens NFT collections.
For the uninitiated, a metaverse is a virtual-reality space in which users can interact with a computer-generated environment and other users. DeFi is an abbreviation for decentralized finance, a general term encompassing transactions without relying on brokerages, exchanges, or banks by using smart contracts on a blockchain.
In Decentraland, players have been offered the chance to win a Lucky Degen NFT from the special metaverse-based slot machines found in the Lucky Degens Embassy.
Decentraland is just one of several metaverses in which Lucky Crypto has been buying plots to build a network of metaverse casinos.
Alongside the operator’s ‘Embassy’ in Decentraland, which is already accepting visitors, it has secured plots in rival gaming metaverse “Sandbox” and the forthcoming dedicated casino metaverse, “Metachance.”
NFTs Collections Coming Soon
It is not the first time NFTs have been incorporated into a slot machine. In September 2021, Evolution’s Red Tiger announced the release of its NFT Megaways, which it claimed was the first online slot game to integrate NFTs.
The Red Tiger game featured CryptoPunks as Wild symbols that can land only on the CryptoPunks Bar. If a CryptoPunk lands on this bar and forms part of a win with low-paying symbols, the CryptoPunk will collect them.
Lucky Crypto’s game works similarly, but the Lucky Degen NFTs are also available through a more traditional ‘airdrop.’
The term ‘degen,’ a shortened version of ‘degenerate,’ hints at a maverick brand appeal. The slang term originates from describing gamblers in sports betting circles who would stake enormous sums despite lacking any relevant experience or knowledge.
In DeFi circles, it has been referred to as a subculture associated with a disreputable corner of the crypto world engaged in pump and dump schemes.
Lucky Crypto is an online DeFi gaming platform that accepts crypto deposits. Its Web 2.0 platform is only accessible to players in jurisdictions where crypto gambling is not restricted, which does not include the UK or the US.
The casino is launching two NFT collections. The OG Lucky Degens collection will be released on June 24, while the Lucky Jungle NFT collection will be launched in July. The OG collection has been billed by Lucky Crypto as “ultra-exclusive,” with just 77 unique, hand-drawn NFTs available for minting for 0.25 ETH.
OG Lucky Degen owners will have access to a monthly airdrop of each of the seven Jungle Animal Lucky Degen NFTs, a wearable – giving them access to restricted Decentraland features, and a $LUCKY token airdrop, which can be used to play at luckycrypto.com.
The less exclusive Jungle Animal NFTs will be released each month from July 2022 to Jan 2023. A maximum of 1111 of each of seven Jungle Animal NFTs will be available for minting for 0.1 ETH.
Into the Metaverse
To access Lucky Crypto’s NFT slot machine, players need to head into the Decentraland metaverse and find the coordinates of the Lucky Degens Embassy
Players then head inside the embassy and upstairs, where the virtual machines are located. They can then stand in front of the machine and click on the slot machine to play. A win on the machine will mint one of the Lucky Degen NFTs.