Native Gaming have launched a new website on nativegaming.io which the company say will combine online casino, live casino, eSports, sports betting and idle games with a complete financial ecosystem, gamification and community of “natives.”
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Online lotteries have been making headway with Indian players for some time, and other casino games like online slots and poker, plus Indian favourites like Andar Bahar, also have large followings. To be native means to be born in a particular place, which makes the name here very fitting as it appears the team at NativeGaming were born for casino gaming. There are many aspects of the website which point to a deep understanding of how casino fans like to engage online. All Native-owned gaming establishments are located on native lands. If you lived in Oklahoma, the closest you could get to a legal casino was Las Vegas. Ironically, Oklahoma has strict state laws against non-Tribal gaming and is also home to the largest casino in the world, WinStar World Casino and Resort.
In another major announcement, the company have said they plan to create a land-based casino and resort on a private island in the Caribbean which will be integrated with the online platform to give their customers a complete gaming experience.
The financial ecosystem provided by Native Gaming leverages the gaming business models with a “smart-society” of “Natives” (Stakeholders) who earn a passive income from Gross Gaming Revenue, according to IGaming Business.
The product itself combines predominantly proprietary systems with the BetConstruct platform which delivers an offering to players with over 5,000 casino games and real-time betting lines on over 40,000 sporting events per month.
Native Gaming CEO, Justin McCool said of the launch “Native Gaming was designed to be more than just another online casino. Whether you’re staying at the private island resort, gambling in the casino, or investing in the bankroll, the Native Gaming platform quickly sets itself apart.
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“We believe that by decentralizing the ownership in the casino and thereby transferring the gross revenue directly to our community, we can begin to reshape the passive income investment landscape. A token that is generating passive income from gross gaming revenue has the potential to be far more lucrative than other popular passive income investments like rental properties, dividend stocks, and masternode coins.
“Our platform leverages the security and transparency of blockchain technology to provide an equal opportunity to everyone. The value proposition is the same whether you’re a struggling student staking $10 or a billionaire staking $10M.”
Native Gaming Seeks to Break The Mould With a Decentralized Private Island Resort & Online Casino – European Gaming Industry News https://t.co/JTwnzmc0iNpic.twitter.com/r6kifxOtat
— Esports Betting Consultant (@EsportzBetting) November 4, 2019
The platform also provides an investment opportunity
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The Native Gaming platform also provides an investment opportunity not only for its users, or “Natives” via passive income, but also to business investors .
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“Natives” do not purchase equity from the company, as there is no equity owned by the organisation. Rather, as a new stakeholder deposits money, their funds go into the “Smart-Contract Bankroll” and the new Bankroll tokens are minted. As Casino revenue is generated, it is used to purchase bankroll tokens from the bankrolls which is then distributed to the stakeholders.
The smart-contract bankrolls provide a dynamic price offering by scaling the token price for every bankroll token bought and sold. The result of this is that as new funds come into the bankroll, either from casino revenue or outside investment, the global price per token steadily increases.
Bankroll tokens are able to be directly redeemable for the funds sitting in the bankroll at all times.
The organisation said that “this means that as new funds come into the bankroll, either from casino revenue or outside investment, the global price per token is steadily increasing. Bankroll tokens are directly redeemable for the funds sitting in the bankroll at all times making it a very liquid form of investment and as gross revenue is distributed in real time to the stakeholders in the casino, it means that all business overhead costs have absolutely no impact on stakeholders.”
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With its private island resort and decentralised ownership of the casino, the move by Native Gaming will certainly be a step from the norm when it comes to the casino industry.
The use of smart-contract bankrolls will see an interesting element for investors who may find this as a positive innovation which may be potentially lucrative.
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The ability to connect with a new audience in both gaming and investment may be a new business development that results in financial reward for Native Gaming.