GameFi, iGaming & NFT Gaming. What’s the difference?
So, what does this all mean? What is the difference between GameFi, NFT Gaming and iGaming.
Let’s begin with Lucky Lion.
Lucky Lion is a GameFi launching a series of products including Yield Farming, iGaming, NFT Gaming, as well as Revenue Sharing.
During Fair Launch on 18 September 2021 (12:00 UTC), users will be able to buy $LUCKY and stake it on our Farms as well as play our iGaming (October) and NFT Gaming launching in early 2022.
So… isn’t GameFi, iGaming and NFT all the same? Nope!
Whilst there is no strict “Oxford Dictionary” definition, we view GameFi as an intersection between “mobile-type” gaming, decentralised finance, and more traditional iGaming such as Crypto Casinos, that share one common core — being built around decentralised finance infrastructure.
In the case of Lucky Lion, our Yield Farm, Revenue Sharing Pools as well as NFT Gaming are built on Binance Smart Chain, whilst our iGaming is off-chain, utilizing Provably Fair Play allowing users to verify the fairness algorithm.
Lucky Lion is first kicking off the gaming series with iGaming in mid-October.
iGaming, in a sense, is more closely tied to your more traditional online Gaming such as slots.
At Lucky Lion we’re launching with next-gen iGaming technology adopting a more RPG-Style than traditional competitors.
Players will have a rotating list of video slots and table games available to them throughout the year. This includes perks such as mystery loots, bonus features and free spins enabling players to earn more.
The first game is a barbarian adventure revolving around an underworld, available to play in-browser and on mobile phones without needing to download an app.
Each game comes with unique bonuses. For our adventure game, there are bonus achievements.
To unlock the Bonus Achievements, the player must battle their way through a number of Dungeon spaces, fighting with enemies who protect the final level’s Boss. Every Bonus level has an Random Number Generator (RNG) determined reward, equal to money, and once the player is victorious on each, there comes a chest with a random selection of a weapon, armour upgrade or health potion. The final showdown comes with an epic boss fight and the chance to win a bet multiplier of up to 5,000x!
The maximum win pool for our first game, pictured above, is $562,374 (this excludes earnings from the revenue sharing pool and yield farming).
All users need to do to get started is click on the app launch button on our Lucky Lion website and navigate to the game section where they can choose which game they wish to play.
Users can swap their tokens to $LUCKY or to other stablecoins via PancakeSwap. These tokens are then exchanged for play credits on Lucky Lion. 1 credit = 1 play. Please note, that only $LUCKY qualifies users for the 9% Revenue Sharing Pool where users can earn regardless of win or loss.
The Return To Player (RTP) on our iGaming is much higher than standard, as high as 98% compared with 90% and below of our competitors.. Some as low as 85%. That means when you play Lucky Lion iGaming, if you play with $1 over 100 times, you will get back $98 or more.
Additionally, as iGaming is off-chain, our games feature Provably Fair Play, which is an algorithm players can utilize to verify the fairness of games ensuring complete transparency without compromising safety and anonymity of players.
Players will be able to use utility NFTs for iGaming unlocking unique promotions.
Additionally, we’ll be releasing more games at a rate of two new games per month.
On this note, do check out the Lucky Lion Fair Launch Promotion available only 18–25 September 2021. The more $LUCKY you get, the more perks you’re entitled to such as extra tokens, 10% deposits, x2.5 reward multipliers and more.
NFT Gaming utilizes Non-Fugable-Tokens (NFT) directly in gameplay, and is more skills based, as opposed to luck-based gameplay like iGaming.
Users buy and sell upgrades that usually have a real function in-game and are able to sell them across marketplaces to earn. For instance, a magic sword that increases damage or breeding and selling a rare Axie.
We aim to launch our NFT Gaming experience in early 2022 (date TBA).
The game is set to follow our art direction, and can have many cool features such as the ability to upgrade and trade spaceships, discover and conquer new planets, build their bases and battle other prides (groups). Additionally, players will be able to buy and upgrade facilities to mine tokens.
Most in-game items are NFTs that can be bought, sold and traded, across major marketplaces.
The game is still in early development, gameplay is subject to change.
We understand that the terms being thrown around can often lead to confusion about the differences between GameFi, iGaming and NFT Gaming. As a simple rule, we view GameFi as the main category under which sub-categories such as iGaming and NFT Gaming fall under. iGaming is luck based, whilst NFT Gaming is more skill based, utilizing in-game items that enhance the gameplay.
Do you view or have another interpretation of GameFi, iGaming and NFT Gaming? If so, we’d love to hear from you. Please leave a comment, like and share.
Join our community:
Buy $LUCKY: Address announced 18 September 2021, 12:00 UTC