Blockchain in iGaming: An easy solution for all is now available
Trueplay is the first-in-class blockchain solution for online casinos represented by tokenized loyalty programs.
Press release.- Blockchain-related topics are buzzing right now everywhere, even in online entertainment. Casinos, in theory, can implement this new technology and benefit from being transparent to players. But it’s only in theory because practically creating a platform on a blockchain is extremely pricey and time-consuming, not to even mention how questionable such an investment’s returns are.
The good news is that implementing blockchain does not necessarily mean building a whole new platform from scratch. There is an instrument that allows plugging in an iFrame widget that does everything the same but without the need to rebuild the whole casino’s architecture. It is called Trueplay.
What is Trueplay?
The first-in-class blockchain solution for online casinos is represented by tokenized loyalty programs. Operators can create their own cryptocurrency with the name related to their brand name (that’s already cool). This token has a real value on the global crypto market and it is used to reward players through loyalty programs, which we will describe later.
Loyalty programs’ reward pool is based on the casino’s income, and this is easy to check through a Blockchain Explorer. Here players can find and verify every transaction to make sure it’s all transparent and the casino does not hide or rig anything. In this way, the casino builds users’ trust and makes users more loyal to the brand, which results in boosted KPIs for this platform.
Loyalty programs with crypto
Trueplay offers two loyalty programs that allow casino owners to reward players in a more interesting way. First of all, the casino has to decide which percentage of their income they want to put into tokenized programs. It can be anything between 1 and 100, however, usually, brands decide on something small just to test it out.
Play To Earn
Description: players make bets and each time they do, a small amount of crypto goes to their balances. This balance is different from in-game currency or fiat, though it’s interchangeable. A reward arrives for every bet, it doesn’t matter if it was a winning or a losing one. One bet = one reward, always.
Technical details: the reward is based on the casino’s income, and can be changed at any time. It is possible to make a different percentage of rewards for different game providers, so that operators may boost playing on certain providers over others when they need to. This instrument can also be used for marketing, for example, it’s possible to make ‘the game of the day’ or ‘weekend double reward’ etc.
Advantages for players: extra income, owning crypto for doing usual actions, less demotivation when losing.
Advantages for casinos: extra interest, more user loyalty, increase in the average deposit.
Hold To Earn
Description: users can stake their crypto tokens and get an opportunity to earn more by just holding them. The opportunity for extra income appears if the casino has had a positive income. If it didn’t, players get their tokens back. In any case, they get their tokens back, but sometimes this reward may be multiplied.
Technical details: time slots for staking are adjustable, as well as the percentage of the reward. Three periods are available and it is recommended to make them short, middle length, and long so that players have a choice and can try different ways to multiply their crypto income.
Advantages for players: more extra income.
Advantages for casinos: extra interest, boosted retention, players come back more often to get their deposit, and the money stays on the platform for longer.
How to get it?
Trueplay is an iFrame widget, therefore, it does not require any development. Casino owners may apply online to get the widget or book a call to see a demo and assess how it will look on their page. Installation is free, also there’s no monthly payment for supporting the widget. Casinos are charged a certain percentage of players’ income with tokenized loyalty programs, which is quite low compared to the outcome that platforms will receive when using the instrument.
Generally speaking, this blockchain tool is great for platforms with any GGR. By implementing tokenized loyalty programs players’ trust and loyalty grow, as well as the casino’s metrics. With zero investment and easy implementation, it’s not only beneficial but also risk-free for platforms of any scale.
