The introduction of a market solution
Blockchain, while already a commonplace technology, is widely welcomed across diverse fields, with many experts recommending its application in iGaming. Many casinos have already embraced the digital currency trend by allowing transactions through Bitcoin, Ethereum, amongst others. However, the full potential of blockchain technology is yet to be fully explored.
Over the past few years, the buzz around setting up transparent iGaming platforms independent of human interference has been predominant in media circles, with blockchain often cited as a viable solution. However, certain setbacks like resistance to change, time and financial resources required for adoption have been major hindrances.
#Trueplay: The Bridge between Technology and iGaming
A solution has emerged that effectively bridges the gap between technological advancement and iGaming – Trueplay. This innovative platform has revolutionized the iGaming industry by offering a comprehensive solution for business tokenization. Trueplay takes it a step further with its features, including streamlined issue of internal cryptocurrency, token sales organization, listing on exchanges, launching unique tokenized loyalty programs, and integrating the Trueplay Blockchain Explorer, instilling confidence in users of the gaming platform.
The Importance of Tokenization
The concept of tokenization within the gambling platforms provides an avenue for business expansion. It introduces an innovative means of engaging with players, motivating them, providing access to the global crypto market, and promoting transparency. This move improves the financial strength of platforms as trust in a platform leads to an increased user base in the iGaming industry. Trueplay makes token issuance a seamless process with all necessary controls accessible via a personal admin panel.
Tokenized loyalty programs
The Trueplay platform harnesses the full potential of blockchain to mutual benefit of both businesses and players with two interconnected loyalty programs – Play To Earn and Hold To Earn. The former encourages players to place bets, getting cashback in tokens, which can then be traded in the digital market. These tokens also increase via the second program, Hold To Earn, a system similar to traditional staking of crypto.
Hold To Earn allows the user to select a holding time and the quantity of tokens to place on hold. When the hold period elapses, the user gets the tokens back plus a reward dependent on the platform’s profit. Consequently, users are inspired to play more, as they earn more tokens and place them on hold.
Trueplay’s effectiveness has been proven by the Fairspin blockchain casino, which, after partnering with Trueplay in 2021, saw a significant rise in several performance indicators. For example, Customer Retention Rate increased by 45%, Turnover by 55%, and Deposits by 40%.
Tokenization signifies evolution in the iGaming industry, allowing for this transition without any adjustment to the business structure or wasted time, thanks to Trueplay.
