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Showing results for tags 'nft'.

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  1. The world of gambling and online casinos has long been at the forefront of adapting to new technology as it develops. Crypto gambling and the blockchain were no different. One of the largest industries that run on the blockchain is NFTs. Creating, selling, and purchasing NFTs has become all the rage, but could they work for casino games? NFTS (non-fungible tokens) are images, music, in-game items and artwork that consist of digital data stored in a blockchain. These digital assets can be sold and traded by the owner for large sums of cash. Due to their massive popularity (and rather steep pricing,) the chance to win NFTs while playing an online slot or casino game is something that piques the interest of many gamblers. But how would it work? The Problem with NFT Casino Games The issue faced by software providers attempting to create NFT slots is that the games are simply not sustainable. NFTs are designed to be unique entities owned by a single person and stored on the blockchain. If a popular slot machine at a mainstream casino starts to draw many big winners, the provider would have to release more and more NFTs as payment. This would eventually dilute the value of the NFTs, and the game would become pointless. Currently, online slot providers are attempting to dip their toes into the blockchain pool. They're doing so by mimicking NFT stylings and using well-known NFTs as symbols (such as Paradise Trippies). One of the latest games to hit the Metaverse is Lucky Degens. This game lets players win real NFTs from the Lucky Crypto collection. Players can get their hands on OG Lucky Degen NFTs and any new collections that are set to be released in the future. There are also Free Spins, bonuses, and $LUCKY token crypto up for grabs. The only real issue with this game is that it is not available at mainstream online casinos. This means you'll need to be a true Metaverse-dwelling crypto user to even get a chance to play. Could ZOGI Labs Have the Answer? ZOGI Labs has designed a new game that is all about multi-player fun with the potential to earn crypto – designed for "non-crypto people". In their in-depth white paper, ZOGI Labs outlined how they've created a game that works for every aspect of gameplay and for every type of player. The aim of Legends of Bezogia is to make crypto, the blockchain and DeFi ecosystems as accessible as possible for everyone. Players can sign up for free, craft weapons, fight their foes, and take on a series of quests – all while earning MBLK. Magical Blocks (MBLK) are an ERC20 utility token on the Ethereum network and also act as the in-game currency found while playing Legends of Bezogia. That means real cryptocurrency can be earned and mined while playing an MMORPG in a fun, fantasy world. But how would this work for online casino games? Legends of Bezogia runs on the following core mechanics. Some of these could be adapted to work for online gambling if done correctly. Minting Summoning Renting Staking Exchange Virtual Real Estate Let's look at what the most relevant mechanics could do for Online Slots and casino games. About NFT Slots – Our Hypothesis Considering the way online slots run and the features they tend to offer, we think there are a few of the mechanics mentioned above that could work for online casino games. For instance, the summoning mechanic works on the ability to collect Bezogi (another form of in-game crypto) and use them to summon creatures at will. An online slot could use this feature and instead allow players to collect small amounts of crypto as they play (perhaps for unlocking achievements), and this crypto can then be exchanged for free spins or multipliers. In Legends of Bezogia, exchanges are done at marketplaces and pawn shops. Again, this could easily be adapted to suit the world of online casinos, where marketplaces could be established in order to purchase bonus games or special NFT rewards. Giving players the ability to post a reward they've won while spinning the reels of a slot in exchange for crypto means that players can interact and be a part of a living ecosystem. It also means that players who enjoy completing rewards collections could do so. One main feature of playing Legends of Bezogia is that they aim to keep players rewarded. This should be a standard for online casino games too, especially those on the blockchain. Whether via a special feature, a mini-game, or a game that plays completely differently from the slot being enjoyed, winning crypto should be a constant. Even small prizes such as tiny amounts of Satoshi could keep players engaged for longer. It appears that the only way to make NFT slots work is to reward players in many ways and leave the NFTs as the ultimate jackpot prize. This way, NFTs can be released only as required while also building a community of players who enjoy the game's entire experience, rather than just the main prize.
  2. Key Takeaways Chatter and hype about NFTs in online communities mirrored sales trends in March and April 2021, peaking in the second week of March and falling sharply thereafter. 46% of online discussions about NFTs were positive, compared to only 12% that were negative. NBA Top Shot garnered the most total positive mentions in online NFT communities of any NFT-related platform, company, or person. The Rise of the NFT Since the first digital work of art was linked to a certificate of ownership back in 2014, the NFT (non-fungible token) market has experienced a huge boom, especially in the last year. In March 2021 alone, worldwide sales of NFTs amounted to a total of over $100 million, dwarfing sales in all previous years combined. An explosion of crypto-art-centered online communities accompanied by prolific media coverage gave distinction to this new platform for digital artists and creatives, but has the interest been sustained? Read on to see a breakdown of NFT hype over the past year. A Brief History of the Non-Fungible Token The term NFT entered popular usage in 2017. To put it simply, an NFT is a digital token that certifies an asset (whether it's a video, photo, or other form of digital material) to be unique, which makes the digital asset a collectible item. Even if the photo or video can be copied, the NFT validates ownership of the piece and verifies its authenticity. They are generally encoded with similar software used for cryptocurrencies and often bought and sold online using cryptos. NFTs became more widely known to the general population in 2020. One of the biggest triggers of the public's sudden interest in NFTs was the launch of the NBA Top Shot collection at the end of 2020, which enabled fans to purchase and collect NBA moments featuring their favorite player or team, just like trading cards or other collectible sports items. On the NBA Top Shot trading platform, where fans can buy, sell, and trade these assets, some NFTs sell for over $250,000. Musicians, such as Grimes, Eminem, Snoop Dogg, and others, also contributed to the sharp rise of NFTs by putting various items up for sale. Grimes sold several pieces of digital art for a total of over $6 million. Other artists and celebrities who recently offered NFTs for sale include top models Kate Moss and Cara Delevingne, TV star Ellen DeGeneres, and skateboarder Tony Hawk. Jack Dorsey, CEO of Twitter, auctioned his first tweet on the social media platform from March 2006, and the highest bidder took it for $2.9 million in a highly publicized sale in March 2021. The 2020-2021 NFT Popularity Boom The popularity of NFTs grew steadily throughout 2020 and peaked in March 2021, when NFT sales experienced a huge surge worldwide. The popularity of NFTs in online communities can easily be correlated to sales numbers for the same period. The previously mentioned peak in the second week of March 2021 was caused by a Christie's auction that saw the NFT of a piece by artist Beeple auctioned for $69 million. During this same week, Reddit posts related to NFTs reached a volume of over 3,500. As NFT sales declined in the following week, so did the interest of online communities. However, the number of mentions since this drop is still much higher than it was at the end of 2020, showing that there has been increased interest in NFTs over the first half of 2021 overall. How Do Online Communities Feel About NFTs? This growing interest in NFTs is reflected by a generally positive sentiment toward them in online communities. Only 12% of posts expressed negative feelings toward NFTs, while 46% actively supported them. NBA Top Shot receives a lot of mentions with one of the highest percentages for positive feedback. This very popular platform clearly contributes significantly to the public's interest and overall approval of NFTs. OpenSea, the most mentioned platform on our chart, is one of the largest vendors of NFTs. The platform offers items in various categories such as music, art, and sport. Users can also sell their own NFTs, so OpenSea doubles as a marketplace – and a very popular one at that, with sales reaching $160 million in June 2021. Earlier in the year, musician Shawn Mendes used OpenSea to sell over $600,000 worth of digital clothing intended for users' avatars. CryptoSwap Finance had the highest percentage of positive mentions with 81%. This recently launched platform does not sell NFTs like OpenSea but rather specializes in crypto-trade and exchange, as well as crypto-farming and staking. NFTs in the Media NFTs have also been increasingly featured in the headlines of major media outlets, and these articles play an important role in fueling the public's interest. In recent months, renowned publications such as Forbes, Business Insider, and The Guardian helped to shine the spotlight on NFTs and bring them to the attention of a much larger audience. Media interest peaked toward the end of March 2021, a couple of weeks after the sharp increase of posts and mentions witnessed in online communities, as well as some of the biggest NFT sales. Over the last year, hundreds of articles with headlines related to NFTs have been published. Headlines from notable publications include the following: "Are NFT Purchases Real? The Dollars Are." (The New York Times) "NFT Art Marketplace Sets New Records" (Forbes) "NFT sales volume soared to $2.5 billion in the first half of 2021, as artists, celebrities and even Twitter and CNN joined the crypto craze" (Business Insider) Media Sentiment Regarding NFTs Looking at the wide coverage of NFTs over the last few months, the overall sentiment seems a little more mixed among journalists and media publications than the general public. An analysis of published articles in the last year shows that 31% were positive, 14% were negative, and the majority remaining neutral. The Street and Benzinga have offered the most extensive coverage, with around 400 articles on NFTs each over the past 12 months. Forbes and Business Insider have also published plenty of NFT-related content, with Business Insider being the media outlet with the largest percentage of positive articles on the topic. Looking at the type of publications that extensively cover NFTs, the topic clearly sparks interest first and foremost in the financial and business sectors. This is because NFTs are not collected solely for bragging rights or the buyer's enjoyment; they are often also purchased as an investment that will gain value over time. Several articles discuss NFTs from an investor's perspective, including this one from popular magazine Rolling Stone. However, with mainstream publications such as The New York Times and Billboard also writing regularly about NFTs, the subject is swiftly reaching a broader audience. The Next Wave of NFTs NFTs have seen a sharp rise in interest from both the general public and the media in the last year, thanks to significant signal-boosting from celebrities, news platforms, and respected artistic institutions. And although public interest may have waned somewhat from its March 2021 peak, sustained media coverage and community enthusiasm suggest that the crypto art market will continue to provide space for digital artists to thrive for years to come. Are you interested in joining an investing-style community of your own? GamblersPick offers opportunities for connection with people from all over the world who share your interests and excitement and are available to weigh in on whatever investments you may be considering. You'll also find news, guides, casino information, and many other resources. Head to GamblersPick today to check it out. Methodology and Limitations To analyze buzz and hype about NFTs in online communities, we scraped five of the most popular NFT-related subreddits for posts between July 2020 and July 2021: r/NFT, r/NFTsMarketplace, r/NFTExchange, r/nbatopshot, and r/CryptoArt. For some of these communities, posts not tagged as discussion or posts tagged as sales listings or advertisements were excluded. Our sample included more than 31,000 posts. To evaluate media coverage of the topic, we analyzed over 3,000 headlines from 143 online publications for mentions of NFTs and NFT-related topics. Sentiment analysis for all posts and headlines was performed using VADER. Posts on NFT-related subreddits were unavailable for the dates March 17–27th and April 9–14th of 2021. Sentiment analysis in this project is meant to convey the approximate attitude of the populations analyzed, not that of the general public or artists. Fair Use Statement Think your friends and family might want to brush up on their NFT knowledge? Feel free to share these findings – we only ask that you do so for noncommercial use and that you provide a link back to this page so the contributors can earn credit for their work.
  3. While the news cycle is filled with talk of cryptocurrencies such a Bitcoin, Ethereum, Cardano and even meme-tokens like Dogecoin and Shiba Inu, truly little of the media hype focuses on the real star of the show, blockchain technology. In many people's minds cryptocurrency and the blockchain are the same thing, which is not the case. The innovative way in which the blockchain stores, transmits and ultimately secures data is the foundational element upon which crypto-technology is built. In practical terms, while the mainstream media has been focusing on the cryptocurrencies and their incredible immediate financial value, development firms have been quietly working on using this amazing new technology to create new industries and improve existing ones. 7 Ways Blockchain Technology Will Improve Your Life There are hundreds if not thousands of ways in which blockchain tech can be used to refine and redefine the world around us. We have chosen to focus on seven industries that will benefit from blockchain integration based on recent developments or news stories. ✓Value-Driven Arts and Entertainment Piracy has never been easier thanks to the ability to scan, print and share just about any type of media online easily. This has led to ‘one of a kind’ artworks ending up as cheap prints on everything from mousepads to children’s toys. Artists are unable to protect their intellectual property rights and it has a measurable impact on their bottom line. Whether you are self-publishing a novel, realising a new album or creating your perfect painting once you release it into the world someone will make an illegal copy and try to profit from your skill and hard work. Thanks to the incredible security, peer-to-peer sharing and provable nature of blockchain interactions artists are now able to securely display, share and sell their creations safely, and when dealing with a third-party agent, transparently to ensure they receive full value. This new level of trust and transparency has been the catalyst behind the boom in NFT (non-fungible token) art sales. Where, for the first time in history, it is possible to provably own an original digital creation. This ensures that the artist receives fair value, agents must deal fairly with buyers and sellers and collectors are ensured that their purchase will retain value given the ability to legally prove theirs is the original artwork and not a fake. ✓Beating Scalpers with Digital Ticketing and Sales One of the most recent uproars online has been the rise of the digital scalper. Using blockchain technology to ensure patrons received tickets to highly sought after events, rather than scalpers, has proven to be highly effective for the Adrienne Arsht Center for the Performing Arts in Florida. Assistant Vice President, Business Intelligence, Nicole Keating said: “While our work with True Tickets began as an initiative to keep tickets in the hands of our community and out of the hands of brokers, their mobile ticketing solution is, now more than ever, a critical component of our safety protocols.” An unexpected but positive spin-off has been their ability to offer contactless ticketing in a world recovering from the pandemic. Sadly, the reach of the scalping community has not been limited to ticket sales for events, as new age scalpers apply sophisticated algorithms to tracking the online releases of everything from the latest Nike trainers to NVidia’s 3000 series graphics cards. Using automated bots, these scalpers buy up all the available stock within seconds which then creates an artificial shortage. As has been the case with the release of Nvidia’s highly anticipated 3000 series GPU’s this has resulted in ‘resellers’ asking as much as $3000 for a graphics card that retails for $699. With a simple tweak of the blockchain code used by event hubs such as the Arsht Center, online retailers would be able to trigger individual smart contracts that ensured that each individual unit of a product sold online was going to an actual customer and not a platform looking to defraud the public. ✓Advancing the Potential of Ridesharing Despite being raised to never get in cars with stranger the cost-effectiveness of ridesharing combined with the ease of hailing a ride on short notice has seen the industry boom with start-ups like Uber and Lyft becoming multi-billion dollar companies while consisting of little more than some fairly basic technology, an app, and a control office. Yet the industry could be far more than what it is, and Arcade City is out to prove it. The innovative new rideshare hub is turning the industry on its head and using blockchain technology to do so. Inspired by the decentralised nature of the blockchain Arcade City CEO Christopher David began working on a model that better served the drivers and the people ordering their services. Rather than pre-setting rates and doling out contracts Arcade City allows the drivers to set their own rates, build recurring smart contract agreements with customers and even offer non-traditional rideshare services like deliveries, roadside assistance and more. This means that everyone from a student looking to work between classes and a small delivery business owner who needs additional income to pay his staff can all benefit from this decentralised blockchain-enabled opportunity. ✓Streamlined Banking Systems To decentralised currency evangelists the mainstream banking may be anathema, however, the reality is that the entire world runs on fiat currency systems and is underpinned by these traditional institutions. Three immediate areas that the blockchain could address are: Online identity verification systems – With the institution of protocols like Zero Knowledge Proof, an online user would only need to prove their identity at a single point. From there on that proof of identity is accepted by all other service providers on the blockchain. This reduces how far one’s personal data is shared enhancing your privacy, while still offering service providers and sellers the security of doing business with a trusted party. Financial clearing and payment settlements – With provable accounts, smart contracts, and the speed of transacting across the blockchain banks could begin to clear transactions and facilitate near instant global transfers while reducing costs by eliminating the multi-step processes that currently exist. Providing accounts for the unbanked – In poorer countries around the world there are estimated to be more than 2 billion people without access to any form of banking. Decentralised blockchain banking would allow secure, low cost, access for these people and allow them to receive international income to support their families and fight poverty. At its core banking is the simply the control, measurement, and facilitation of asset transfers between various private and public entities it can benefit greatly from the inherently secure and provable nature of blockchain transactions. The three items listed above are considered standard in any blockchain transaction, yet they would be revolutionary if applied to the traditional banking world. ✓New Era of Blockchain-Driven Advertising The World Federation of Advertisers (WFA) postulates that by 2025 click fraud and other underhand tactics will have cost the digital advertising industry as much as $50 billion in lost revenues. Like every other industry the online advertising world is rife with fraudsters. The reality is that as soon as you hand over funds to a third party for access to a framework that obfuscates its mechanics you open yourself up to being taken advantage of. This becomes more likely the more you spend as it becomes less tenable to track each individual advertiser and their click data the more providers you must engage to meet your ad spend requirements. However, this is all null and void when the programmatic advertising platform is built on the blockchain. As all agreements are facilitated by smart contracts and each transaction is visible in its entirety to the person paying for the traffic it is simple to determine where your money is being allocated and to review the clicks that you have purchased. This will make click fraud incredibly difficult to facilitate, and should some genius work out how to do it, you have the visibility and the tools to shut it down immediately. ✓Voting in The People’s Choice The right to vote is the backbone of every democratic society around the globe. Yet, as the allegations of Russian tampering that clouded Donald Trump’s presidential term proved there is a level of distrust around traditional voting mechanics, their controls, and their final outcomes. As we discussed earlier with banking and online advertising the blockchain’s very construction ensures the secure transmission of data, offers the ability to prove the identity of each individual participating in the transaction, and finally offers provably fair data based on the information it has gathered. In practical terms this would allow for voters to be registered in an uncrackable blockchain database, using smart contracts allow them to vote privately and securely for their chosen politician, and finally allow the electoral body to report on who received what number of votes. The blockchain is the ideal platform for facilitating free, fair and unhackable democratically sound elections. ✓Safe and Secure Online Gambling As passionate fans of the online gambling community we cannot overlook to the benefits and advantages of blockchain gaming. Beyond the ability to stake wagers via Bitcoin and other cryptocurrencies the blockchain is the ideal platform for hosting online casinos, online poker rooms, online bingo halls and sports books. Any blockchain-based gambling providers ensures: Your privacy – With the ability to store your data in an uncrackable decentralised environment your personal details and gambling history are guaranteed to be safe and secure. Provably fair gambling – The transparent nature of blockchain coding means that you can pull the server side results of each spin of the reels or deal of the cards. All blockchain-based casinos offer provably fair reports, so you have an obstructed view of your wagers and their outcomes. Secure money in and money out – Using blockchain based digital wallets to transact ensure that not only are your deposits processed instantly but they are untraceable. The same is true of your withdrawals as there is no delay in receiving your winnings once you cash out, and with the funds returning to the same secure wallet you deposited from they are also private. We can only hope that larger developers like Microgaming, Playtech and NetEnt begin to invest in transitioning their casino games from traditional gambling environments to blockchain based servers. While there is obviously a financial implication to this type of new technology shift there is no disputing that as blockchain adoption increases traditional server and hosting platforms will begin to diminish in favour of one that offers security, privacy, lower costs, and much higher speeds.
  4. Key Takeaways: Gen Z’s investment habits are more likely to be influenced by Reddit, Twitter, and other social media, while older generations are more likely to have their investments influenced by magazines, newspapers, and TV. Gen Z is less likely to invest in a majority of typical/traditional/common assets but more likely to invest in cryptocurrencies, meme investments, currencies, and NFTs. Gen Z is less likely to invest in collectibles but more likely to invest in clothing and sneakers. Reasons Gen Z and many millennials are investing include the desire to “participate in a movement” and “fight back against institutions.” Investing for All Ages The ‘crypto craze’ has taken the world by storm – a week into 2021, the market value of cryptocurrencies surpassed a whopping $1 trillion. To put its surge into perspective, the value of all digital currencies added up to only around $260 billion last June, and it is now the fifth-most circulated currency worldwide, even surpassing huge economies like India and the UK. With the investment world booming, we wanted to take a closer look at investment strategies among the generations, with a particular focus on Gen Z. Let’s see how often they invest and when they feel is the right time to do so. Also, what kind of assets are they interested in, and what mediums do they use to (attempt to) grow their money? Lastly, we’ll assess respondents’ investment motivations as well as their sensitivity to risk. Read on to see who and what is pulling in the big bucks. Trigger-Happy Overall, a quarter of respondents admitted to investing frequently. It was a relatively popular activity among them, as only 12% said they rarely did it. On a generational level, Gen Zers couldn’t get enough of the practice – 28% said they were constantly investing. That being said, they were also the most likely to say they rarely do. As people got older, they were generally less active in the investment world; millennials were most likely to frequently invest, Gen Xers would do it often, and baby boomers and older generations would only sometimes try their hand at it. Respondents were most eager to invest when they felt like they had extra money to spend. Over half of them pulled the trigger when market conditions were right and would invest on a regular basis. Jumping into the stock market and other investment mediums can be exhilarating, so people should keep a few tips in mind to maximize success: Focus on the future by keeping a long-term perspective, don’t sweat the small stuff, and be open-minded. Weighing the Options With many different asset options to invest in and methods to do so, what do people tend to use the most? By a margin of just over 20 percentage points, the most popular asset to invest in was stocks – almost three-quarters of millennials and Gen Xers preferred to put their money in them over the other options. Putting your money into the stock market can be very financially beneficial – the simplest reason to invest is to grow your wealth, and people tend to amass anywhere between 7% and 10% of their original investment in returns per year. Historically, stocks generally rise and earn more money for investors than other options – therefore, investing in stocks is a relatively safe strategy, making it an attractive choice for many. The most common medium used to invest were retail investment platforms – Gen Zers especially preferred them, but baby boomers (or older) tended to use financial service companies to help them invest their money. There are a ton of investment apps at our disposal, and they are known to excel in different areas – for example, ‘Invstr’ was deemed the best for learning all about investing; ‘Wealthfront’ is known for its sophisticated portfolio management; and ‘Betterment’ is great for people who are interested in socially responsible investing strategies. Assessing Motivations Some are skeptical about the legitimacy of the investment world. Either way, they continue to attempt to grow their money. A conspiracy is afoot, as 77% of respondents believed the markets are manipulated by high-power investors and institutions, and many also agree that the stock market is biased toward them. Generally, baby boomers (and older) were a little more skeptical of these theories, but the younger generations were pretty sure there’s some truth behind them. A lot of research has been done to figure out what’s going on, and technically speaking, it would be difficult to prove that the stock market is rigged for the average investor due to laws and governing bodies, such as the U.S. Securities and Exchange Commission (SEC), to keep things in check. That being said, there are clear advantages that higher-ups, such as the money managers on Wall Street, have access to – among them are access to private and sensitive information, a ton of capital, political influence, and generally high experience when it comes to trading. Regarding investment motivations, Gen Zers, and in many cases millennials, did not have the same incentives as older generations. While Gen Xers and older respondents were interested in long-term gains, saving for the future, and making solid returns, their younger counterparts were particularly drawn to doing it for social causes, like fighting back against institutions and participating in movements. Risk and Influences Are people high-rollers, or do they prefer the small victories? Also, what are they influenced by when it comes to investment decisions? From the data collected, we can see that Gen Zers had a much higher risk tolerance than older generations, and baby boomers (and older respondents) tended to prefer to be a little safer with their investments. The most important aspect considered, by far, when investing was the market condition at the time. Instead of the stock fundamentals, Gen Zers were more interested in the tips and opinions from their family and friends, as well as the advice they found on Reddit. Millennials were the most likely to look for advice on social media and were also most likely to attribute moral or ethical reasoning to their investment decisions. Perhaps unsurprisingly, Gen Zers were more influenced by the online landscape, including YouTube, Reddit, and other social media applications, whereas the older generations tended to make their decisions based on what they were seeing in magazines, newspapers, and on television. The reality is, older people just aren't online nearly as much as young people. For example, 2021 Facebook demographic data shows that out of the 2.7 billion active monthly users, 86% of them are aged 18 to 29, whereas only 34% are 65 or older. The difference is even greater for Instagram’s 1 billion active monthly users – the split is 67% to 8%, respectively. The Learning Curve Clearly, the idea of investing has piqued the interest of many Gen Zers. Their preferred assets, method choices, motivations, and considered factors when investing are different than older generations. This is to be expected, especially with how much they use the internet and their dedication to social causes. A common stereotype is that young people are reckless, especially with their financials, but it was Gen Zers who were the most likely to invest to gain more insight about the investment landscape. Aside from the stock market, another way to grow your money is by rolling the dice at the casino. One thing that these two potential money-growing platforms have in common is that if you’re well informed on what you’re doing, you’re more likely to succeed. Gambler’s Pick is your go-to resource for learning about the ins and outs of online gambling – take a look at their casino reviews, helpful guides, and suggestions before diving into the many casino games you can try your hand at on their website. Head over there now to become a gambling guru! Methodology and Limitations We surveyed 872 people about their investment strategies to explore how different generations are investing. Twenty-four percent of respondents were Gen Zers, 27% were millennials, 25% were Gen Xers, and 24% were baby boomers or older. An attention-check question was used to help ensure respondents read questions and answers in their entirety. The data we’re presenting rely on self-report. There are many issues with self-reported data which include, but are not limited to, the following: attribution, exaggeration, telescoping, and selective memory. Fair Use Statement If you know someone who’s interested in dipping their toes into the world of investing or just wants to learn more about investment strategies, feel free to send this article their way. We just ask that you do so for noncommercial use only and to provide a link back to the original page so contributors can earn credit for their work.
  5. Bitcoin is a hot commodity in the digital world at the moment. The virtual currency is worth over $60,000 per coin right now and is attracting high-risk investors from all across the globe. Due to its growth over the course of 2020 and 2021, many of its buyers treat it as an investment option by’ hodling’ it. Did you know? The word ‘’Hodling’’ is a slang term for the act of holding your cryptocurrency for investment purposes. This word derives from a mistake made in a forum post in 2013 when the writer of the post meant to write that he intended to hold onto his cryptocurrency. Instead of writing, ‘’I am holding’’, he wrote “I am hodling’’. The term is still popular today. Many forget that Bitcoin is really a currency. You can actually buy real goods and services with the funds. In this article, we will explore ten great ways that you can spend your BTC in the world today. While some countries and regions may support cryptocurrencies more than others do, you should be able to spend your Bitcoin no matter where you are in the world. 1. Invest in Alt Coins Once you have joined the world of cryptocurrency, you open yourself up to a whole new digital environment. You can even use your Bitcoin to buy other alternative cryptocurrencies, known as ‘altcoins’. Quick fact: If you sign up and register a crypto wallet at most regulated exchanges, you can manage all your crypto-to-crypto trades yourself from your mobile phone or desktop device. For instance, XRP is outperforming Bitcoin at the moment. To hitch a ride on that currency’s current climb, you can simply opt to trade some of your Bitcoin holdings for the equivalent value of Ripple on your favourite crypto exchange platform. The process is both fast and simple. 2. Visit Bitcoin Restaurants and Fast Foods More and more retail vendors are looking to the blockchain to expand their markets in a time where crypto technology is flying high. This trend is quite evident in the United States and certain European countries. Currently, BTC hodlers can purchase coffee from Starbucks with Bitcoin by using the Bakkt or SPEDN apps on their mobile devices. But don’t stop there, use SPEDN to shop at coffee shops such as Caribou Coffee, Jamba Juice, and Baskin Robbins. Did you know? On May 22nd 2010, a man by the name of Laslo Hanyecz agreed to purchase two pizzas for 10,000 Bitcoins. While that didn’t equate to much money back then (about $41), the same purchase today would be worth over $600 million. The day goes down in the annuls of history as Bitcoin Pizza Day. When it comes to fast food, selected Subway outlets will accept your BTC currency. In the Netherlands and Germany, you’ll even be able to purchase food from Burger King with your Bitcoin holdings. 3. See the World When travelling the world, why not use a borderless currency to make your travels more convenient. This way, there’s no need to pay foreign exchange costs and other associated fees on travel fares and the like. You can now use Bitcoin to pay for your hotel accommodation and your air tickets. Cheapair.com was the first-ever travel agency to accept BTC for air tickets in November 2013 – talk about a company with a vision for the future! Expedia.com, a world-renowned trip advisor and travel agency, also now accepts Bitcoin payments. It doesn’t stop there though. There are many other travel brokers of this sort that will help you circle the globe with your crypto investment. 4. Play Video Games Riding a rallying bull trend in Bitcoin is an exciting prospect for adults, but perhaps what the currency can buy for you is a more rewarding prospect for our kids. Microsoft has been accepting BTC for its online Xbox store for seven years now. Quick fact: Multi-billionaire director of Microsoft, Bill Gates, does not own any Bitcoin of his own and has taken a neutral stance on the currency. While that is a fact, he and his company have surely seen the potential it can bring to the retail end of the business. After a short pause in accepting BTC when it became extremely volatile after 2017, you can use it to purchase Xbox credits again. This way you can get your hands on all your and your kids’ favourite video games with the profits you made in the digital asset’s latest rally. 5. Buy Your Web Domain Intending to open a new business thanks to the money you’ve made on Bitcoin? Well, use the currency to buy your website domain and hosting and get cracking right away. Did you know? Crypto-related web domains often carry great value. Many of these virtual currency domains have become prime real estate and sell for up to seven figures. NameCheap is a large progressive online company that deals in the brokerage of internet domains and offers web hosting and internet security certificates to an international customer base. The company’s willingness to accept Bitcoin as a form of payment for their services truly shows that they have a grasp of the future. 6. Purchase NBA Game Tickets The National Basketball League is one of the most progressive sporting leagues in the United States. The league has a long history of being the first to embrace innovations in technology. As such, it was also one of the first to move forward with cryptocurrency. Various teams, like the Sacramento Kings and Dallas Mavericks, have already accepted ticket sales to their games since 2014 and 2019, respectively. Nowadays, some of the teams have even broadened their views on crypto and accept various other altcoins, too. 7. Buy NFTs - Including Art and Other Collectables The non-fungible token (NFT) market is booming right now. Digital artwork, sporting memorabilia, and other virtual trinkets from famous stars are fetching good money on various blockchains (often associated with Ethereum). Did you know? Beeple’s digital art piece known as "Everydays: The First 5000 Days," sold at a Christie’s auction in March 2021 for a whopping $69 million. It currently holds the world record for the most expensive piece of digital artwork ever sold. Artwork and collectables from famous entities and stars are usually auctioned off to the highest bidder, while sports cards and other memorabilia are sold through retail vendors online. The NBA partnered together with Top Shots to sell unique digital mementoes from the league. The initiative became a multi-million-dollar success within a few months. There is no better way to purchase these new digital assets than with digital currency. Use your Bitcoin to fund your purchases today. 8. Transfer Funds to Your Family & Friends The days of sending wire transfers to friends and family on the other side of the globe are over, thanks to the wonders of Bitcoin and blockchain technology. Now you can fund another Bitcoin wallet within minutes without paying any additional foreign exchange costs. All you need is the recipient’s Bitcoin address to complete the task. Your friend or family member can then either use the BTC to buy what they needed at a supporting vendor or exchange the crypto for the native currency where they stay. Even with conversions to fiat currency, the funds will be available in less time than it would take for an EFT or wire transfer to clear. 9. Support Charities There is an old adage that says: ‘’It is better to give than to receive.’’ If you are of the same opinion and are someone who enjoys giving to charities and welfares, then you are in luck. Some of the top charities and NGO organisations, like Green Peace and the Red Cross, accept offerings in Bitcoin. By sending them virtual funds, it cuts out excessive withdrawal fees on the charity’s side too, making sure that they get all the funds you intended for them without losing any fees to trusted third-party brokers like banks. 10. Explore Online Gambling This next Bitcoin spending option falls right within our expertise at GamblersPick. There are a tremendous number of online crypto casinos available for those who would like to use their Bitcoin to play their favourite online casino games, like slots, roulette, blackjack, poker, and more. You can even bet on your favourite sports nowadays. Did you know? There are numerous Bitcoin casinos that offer games made with Provably Fair technology. This software allows players to see the coded algorithms for each game round, making it possible for the casino to prove that each hand or spin is random and fair. For a list of the most trusted cryptocurrency casinos which hold our community’s stamp of approval, be sure to use one of our top-rated Bitcoin casinos.
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