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Slotie Junior Takes Vegas from Vegas to the Metaverse

·4 min read

It’s been a busy time for the Metaverse. Just this week, U.S fast-food chain McDonald’s launched a Zodiac Collection in the Metaverse to celebrate the Lunar New Year and the Year of the Tiger.

Last week, the music industry had also entered the Metaverse, with music label giant Warner Music Group buying LAND in the Sandbox (SAND) for a theme park.

The increased activity has come in spite of a sharp rise in regulatory scrutiny across a number of key jurisdictions, including the U.S and China. Judging by recent activity and the caliber of firms entering the space, the Metaverse looks set to have a stellar year ahead.

Gaming Industry and the Metaverse

Gambling and the Metaverse are no strangers. At the start of the week, British gambling conglomerate Entain Plc announced plans to develop gaming and interactive entertainment products for the Metaverse. Entain Plc owns the UK’s Ladbrokes and Coral betting shops in addition to online brands.

This year, Tops Casino Online published an article on casinos and the Metaverse. The article acknowledged the immense benefits of Metaverse casinos. In a Metaverse casino, gamblers can create a virtual character, purchase supported crypto, and gamble away. According to the article, a number of Metaverse casinos already exist.

Tops Casino Online lists the following as the best Metaverse Casino platforms of 2022:

For gamblers, the good news is those metaverse casinos are run on blockchain technology. This ensures that games cannot be rigged when sitting at the table. Did the croupier really get Black Jack 3 times in a row and once with 7s?

As decentralized autonomous organizations (DAO), the community votes to protect gamblers and the integrity of a particular DAO.

“What Happens in the SlotieVerse, Stays on the Blockchain, Forever”.

This week, Slotie Junior announced plans to launch a Casino in the Metaverse. For gamblers, SlotieVerse is a Las Vegas Metaverse experience.

As a decentralized platform powered by Ethereum (ETH), SlotieVerse aims to deliver unrivalled social experiences. Slotie Juniors, a collection of 10,000 unique artworks, are the first to enter the SlotieVerse.

According to the Slotie Junior website, there are 10,000 statues of each unique Slotie Junior. Only 5,000 Juniors will ever be mintable. An additional 5,000 Juniors are reserved for Slotie holders to breed. Slotie Juniors are non-fungible, ensuring that no two Slotie Juniors are alike.

Benefits for Slotie Juniors include:

  • Each Slotie Junior gets a plot of land in SlotieVerse’s Slotie Junior District.

  • Attend events at discounted prices.

  • Have free spins and rake backs in the slot machines and other games in the SlotieVerse.

  • 50 slot machines are placed in the Slotie District. Slotie Juniors can earn income streams by providing liquidity or by just being holders of Slotie Junior.

Gambling, Las Vegas, the Metaverse, and the Risks

For casinos in Las Vegas, Macau, and other big gambling havens, the Metaverse could materially impact future earnings not to mention employment and the economy of a state or a country, in the case of Macau.

Gamblers can enjoy a degree of anonymity and save significant expenses and enjoy the full experience from a preferred location. In the world of COVID, virtual has become the option of choice. This is unlikely to change anytime soon, particularly when considering cross-border travel restrictions that are likely to remain in place for the foreseeable future.

Earlier this month, the Las Vegas Sun reported on the economic effects of the coronavirus pandemic on Nevada state employment conditions and casino revenue streams.

According to the report, casinos that grossed more than $1m in gambling revenues lost $206.4m in the 12-months ending 30th June 2021.

In the fiscal year 2020, net income had hit $2.9bn. Average employee numbers fell by a reported 18% during FY2021. For the state of Nevada, 302 casinos reportedly paid $802m in gambling taxes and fees.

When considering tax Dollars for the State of Nevada and other gambling havens and the big names in the casino business, they are unlikely to go away quietly. It, therefore, remains to be seen how the recent spike in regulatory activity will hit the likes of Slotie Junior and the Metaverse.

This article was originally posted on FX Empire