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Virtual gambling will be the future of entertainment industries

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Intro

As some of you may have already heard, Bitcoin officially became legal tender in El Salvador last September, three months after the country’s legislature passed the Bitcoin Law (virtual gambling). And now, the country is taking a huge step into the metaverse by creating a virtual casino where you can buy and sell NFT (non-fungible tokens).

The project will also have its physical branch in the country. This is announce last week by the Government of El Salvador and Astro Babies, the company that is in charge of the project.

More about virtual gambling

In an announcement from Monica Taher, the country’s Technology & Economy International Affairs Director, alongside a tech firm called Astro Babies, the country will back “an NFT based Crypto Casino.” There will be both a land-based and metaverse version of the casino, according to a report. The casino is call Astro Casino and operate on the Solana blockchain.

In addition, the company responsible informed that the casino will have slot machines and table games, weekly poker tournaments. And lots of other activities and products. The place will have a gaming area, lobby, bar, restaurant, DJ, terrace, and even a VIP area.

For now, Astro Babies only markets its three NFT collections including the one and only “Bored Ape Yacht Club”.

The NFT market has seen significant success over the past year, with some selling for thousands or millions of dollars. For example, the marketplace OpenSea has traded $4 billion so far in 2022. This shows that if the casino is successful, it could see huge money flow from the sale of these assets.

Although the location has not yet been disclosed, it can be assumed that it will be inside Bitcoin City. As an initiative to boost the economy. Also, the upcoming Casino Esport Conference organizers said the event will address the need for casinos. To embrace metaverse technologies, as one of its focus points.

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