The crypto scene is constantly changing in 2023, with new trends and sectors emerging on a regular basis.
One area that’s beginning to gain traction is “GambleFi” tokens, which aim to combine decentralized finance with the world of online betting.
In this article, we explore the rise and future potential of GambleFi tokens in detail, before highlighting three projects that traders are keeping an eye on in this fast-growing niche.
Why GambleFi Tokens Are Becoming Popular
GambleFi tokens have seen an uptick in popularity over the past year, emerging as one of the hottest crypto sectors in 2023.
While online gambling platforms have existed for years, the concept of GambleFi only took off in the latter half of 2022, when several high-profile projects launched tokens.
Now, towards the end of 2023, GambleFi tokens remain as popular as ever, partly due to the enormous growth in the traditional online gambling market.
Moreover, the very nature of the crypto market is speculative, meaning digital asset enthusiasts are already inclined towards risk-taking behaviors.
This predisposition towards speculation and the prospect of high returns aligns perfectly with the principles of gambling in general – making GambleFi a natural fit for many in the crypto community.
Another reason for the popularity of GambleFi tokens is their transparency, given that traditional casinos often suffer from trust or fairness issues.
With GambleFi, their decentralized nature ensures that the results of games/bets are provably fair, secured by the power of the underlying blockchain – whether that be Ethereum, Binance Smart Chain, or another platform.
Lastly, the integration of decentralized finance (DeFi) features in gambling platforms offers users additional incentives, like staking opportunities.
As a result, users can potentially earn even more rewards while also enjoying the excitement of online gambling.
This confluence of factors has created the ideal conditions for GambleFi tokens to thrive, which explains their surging popularity in 2023.
With CoinMarketCap data showing that the gambling token market is currently valued at just $406 million, there’s clearly plenty of room for exponential growth in this exciting sector.
3 Best GambleFi Tokens to Invest in
Now let’s take a look at which GambleFi tokens traders are backing to grow in the near future.
1. T.G Casino (TGC) – New Telegram Casino Offering Limited-Time Token Presale with $150k Raised on First Day
Given the huge potential of GameFi, savvy crypto investors are already on the lookout for the next big thing in the space – and T.G Casino (TGC) looks poised to be a frontrunner in this regard.
T.G Casino has caused a stir since launching its token presale for TGC, raising over $160,000 within the first 24 hours.
As the leading Telegram-based crypto casino, T.G Casino taps into a massive target audience of 700 million+ monthly active users (MAUs).
Unlike many crypto casinos, T.G Casino holds an official gambling license from Curacao, providing users with confidence regarding its legitimacy.
The platform also offers a frictionless, anonymous user experience – prospective gamers simply need to deposit crypto within Telegram and begin playing instantly without KYC.
TGC employs deflationary tokenomics, using casino profits to buy back tokens and burn 40% of them, to put upward pressure on TGC’s price over time.
As outlined in T.G Casino’s whitepaper, TGC holders can also stake their tokens and earn up to 3,227% APY at the time of writing.
With Telegram emerging as a hub for innovative crypto projects, such as the viral Toncoin (TON) token, T.G Casino’s integration with the platform could prove fruitful.
Moreover, given its first-mover advantage and Telegram’s massive user base, T.G Casino has immense growth potential – positioning it as one of the top GambleFi tokens on the market right now.
2. Rollbit Coin (RLB) – Innovative Crypto Casino with Profit-Driven Lottery Feature
Another GambleFi token gaining traction in 2023 is Rollbit Coin (RLB), the native token of the Rollbit crypto casino.
With Rollbit casino already profitable before launching RLB, the token was able to provide instant utility by being integral to the platform’s lottery system.
RLB holders can stake their tokens to enter the platform’s lottery and win a share of 20% of Rollbit’s daily profits.
The lottery has the added benefit of driving demand for RLB tokens, while the built-in staking system burns tokens from circulation over time, creating deflationary pressure.
GambleFi’s rising popularity has benefited Rollbit Coin significantly, given it’s now ranked first on CoinMarketCap’s list of the top gambling tokens by market cap, with a daily trading volume of over $5 million.
Moreover, Rollbit’s continual innovations, such as their Rollbot NFTs, demonstrate the project’s commitment to creating unique user experiences – ensuring RLB remains a standout in the GambleFi landscape.
3. FUNToken (FUN) – Low-Cap Token Aiming to Reshape the Blockchain Gaming Space
Lastly, FUNToken (FUN) is an Ethereum-based project that positions itself as the number one cryptocurrency gaming community.
As a fully-fledged gambling token, FUN aims to facilitate transparent and fair gaming through blockchain integration.
Both gaming operators and players can harness FUNToken’s capabilities – with players able to utilize the non-custodial XFUN crypto wallet for secure, fast, and gas-free transfers.
Further benefits of FUNToken include its transparency and integration with multiple gaming decentralized applications (dApps).
With listings on major platforms like Binance, Gate.io, and MEXC, along with a dedicated community on Telegram, FUNToken’s focus on innovating the GameFi sector is paying off.
Additionally, although FUN is trading 98% lower than 2017’s all-time high, many investors believe the growth of the GameFi sector, along with the project’s continued development, means there’s potential for a rebound in the near future.