Discover how the adoption of tokenisation in crypto gambling is transforming casino gamification and rewards programs.

The new buzzword in crypto casinos is tokenisation (or tokenomics). There is no denying that the online gambling sector is always at the forefront of technology adoption and customer engagement. This time around, those two worlds have combined as digital assets to create immersive and engaging player experiences.

Join us as we jump into this interesting new take on player loyalty and rewards to learn more about what tokenisation means and how it benefits you when gambling online.

What is the meaning of tokenomics?

Tokenomics is one of those new-fangled terms brought about thanks to blockchain and online casinos' efforts to reward players using virtual tokensand other digital assets.

In crypto, tokenomics is loosely defined as the economic models and systems that support the distribution of virtual tokens like cryptocurrencies and NFTs. These systems directly impact its usability and, thereby, its value.

This means that when looking to understand the economics surrounding a cryptocurrency, it is essential to consider its creation, distribution, utility, governing protocols, and mechanisms for encouraging transactions and dealing with inflation.

It also points out the close ties between tokens, NFTs and online casinos. The former presents another way for gambling sites to offer personalised rewards and exclusive gaming experiences.

How does it impact casino loyalty?

The intangible nature of the online world, where we spend so much time, has not dispelled our real-world-driven need to own things. With its inherent ability to track and prove ownership, blockchain has allowed online casinos and their loyalty programs to meet this need for their players through tokenisation.

A study by ScienceDirect on the psychology of ownership in the digital ageshowcased three meaningful value adds created by tokenised rewards:

• They offer more personalised and user-friendly rewards, creating the perception of increased value and control.
• They allow the recipient to learn more about the reward, which helps them feel empowered and deepens the item's rewarding nature.
• The provable nature of tokenised items and their longevity allows them to serve as collectable items, which deepens the connection with the provider.

This serves the needs of both the player and the crypto casino. The player receives an item with real-world and emotional value. As the provider of this extended value, the casino gains favour with the player, which in turn can lead to long-term loyalty. An actual win-win scenario for all involved!

Where do we see tokenisation in action?

Crypto and hybrid casinos naturally trade in tokens and digital entertainmentas a core part of their business model, meaning tokenomics is woven into the very fabric of their daily work.

Here are three areas where tokenisation is already in play at your favourite gambling site:

1. The currencies you play with – casinos offer a range of in-game economies based on the values of various virtual currencies. These can include placing bets using assets like Bitcoin and Ethereum, winning NFTs, or creating blockchain-based avatars that hold value based on their unique combinations of art assets.
2. Token-based rewards programs – whenever a casino offers tokens or other digital assets with real-world value for completing tasks, participating in events, or even as special itemsthat can be unlocked through deposits, you see tokenomics in action.
3. Exclusive VIP experiences – another use of tokenisation is rewarding participation at a crypto casino with access to special online events, showcases, concerts, and other commemorative keepsakes. The focus has shifted from short-term cash incentives to experiences that create a bond between the player and the casino.

Crypto casinos like BC.Game have elevated their game by offering in-house tokens, which players can use to gamble online and claim prizes. At the same time, several fiat currency casinos have learned from their success, offering versions of tokenisation mixed with gamification to reward and entertain their fans.

BC.Game Casino

BC.Game Casino offers a wide range of fiat and cryptocurrencies, an NFT marketplace, and provably fair games. Plus, you gain access to an exclusive VIP Club and Achievement rewards & promotions.

Wazamba Casino

Enter the jungle of Wazamba Casino and enjoy 1500+ games, exciting bonus promotions, tournaments and more daily.

Slotuna Casino

Ward off mages and bank on big wins! Slotuna gives you access to 6,000+ games, VIP benefits and crypto payment methods.

Nomini Casino

Get ready for some fun with Nomini! This casino is home to 5,000+ games, a rewarding VIP program, and a great selection of bonus features.

MyEmpire Casino

A brand new online casino where you can cash in on diamonds and build your own empire by choosing among a vast collection with 8,000+ games.

The sites that have chosen this route include Wazamba, Slotuna, Nomini and MyEmpire, where they have crafted immersive experiences and unique games that offer their bespoke tokens as gifts. These non-crypto coins can be traded for cash or prizes.