- February 12, 2020
- Posted by: icoblock
- Category: News
Native Gaming is an ambitious new online casino that allows players to Be the House by directly staking in the bankroll. Stakeholders receive Gross Gaming Revenue generated by 5,000+ Casino Games from over 70 game providers including Evolution Gaming, Netent, Play n Go and Microgaming.
Native Gaming has recently announced their proprietary Social MMO Sweepstakes Casino featuring the first of it’s kind, patent pending, Native MMO Slot Video Game. Unlike traditional online slots games that all use the same, spin and a chance to win, the Native MMO Slot game is a full video game that replaces the traditional, casino-style slot mechanic with a monster catching system similar to the popular pokemon games. Monsters can then be used to battle and earn money or cashed in directly to the casino. Native Gaming has not announced a release date for the Native MMO Slot game yet but they are running a great No Deposit Free Spin Bonus to tide us over in the meantime.
Natives (An identity given to stakeholders in the Native Gaming Casino) can invest in Native Gaming through the ‘Be The House’ program. Invest and become part of the Online Casino Bankroll where other Natives pool their bankroll against all bettors on the site. This requires Natives to use a web3 browser extension like Metamask or a mobile Dapp Browser like Trust Wallet. By sharing the ‘house edge’ (varies by game) with other Native stakeholders it allows players to grab a piece of the profit! As the bankroll grows so does Natives’ bankrolling of the house edge. The Native Gaming bankroll system is based on blockchain technology and allows for permissionless investments & divestments in a transparent nature. It consists of three bankrolls based on existing cryptocurrency: Ethereum (ETH), Wrapped Bitcoin (WBTC), and DAI (a decentralized, collateral-backed stable coin pegged to $1USD) each with their own smart contracts.
When each client deposits into the bankroll their funds are placed into our bankroll contract and NTV tokens are awarded in return. The ETH-based NTV tokens are called NTV-e tokens, the WBTC-based tokens called NTV-b tokens, and the DAI-based tokens called NTV-d tokens. The price paid for NTV tokens depends linearly on the total supply of the specific bankroll token. In other words, when someone buys NTV tokens the price for that token will increase accordingly. Similarly, when someone sells NTV tokens, the price of that token will decrease. Buying and selling tokens immediately would ensure that they receive the same amount of ETH, WBTC, and/or DAI that they started with, this means no entry or exit fees.
When the ‘house’ is winning, the revenue is used to buy NTV tokens that are then distributed proportionally based on the current USD value of their staked NTV. When the ‘house’ is losing the staking contract sells a proportionate amount of staked NTV tokens to cover the losses.
While it may seem rather complicated at first, the bankroll system is quite simple. To receive your share of casino revenue, just buy NTV tokens with ETH, WBTC, or DAI then stake them. If you ever want to realize your profits, you just unstake your tokens and sell them back to the NTV exchange contract.