Racoon.bet: Metaverse Gambling Platform

October 18, 2022

The gambling, NFTs, metaverse, and cryptocurrency industries have one challenge in common: interoperability. And the interoperability challenge doesn’t only affect two projects that use the same concept (such as two metaverse projects). It also affects the integration of two different concepts to make the innovations work together and achieve the aims of the project.

However, Racoon.bet is part of a project that has found a way to interweave all these technological innovations into one another through the power of the community.

This project aims to make it possible for users to have access to different use cases, learn about new concepts, and be able to share ideas with other people in a single community.

Today we’re going to highlight how a gambling platform is looking to operate with metaverse, NFTs, and cryptocurrency technologies.

What is Racoon.bet?

Racoon.bet is a decentralized platform that provides access to gambling games through multiple smart contracts on different blockchains.

The gambling platform is part of a big project that aims to unite gambling, metaverse, artificial intelligence, NFTs, and cryptocurrency concepts under one community through blockchain technology. Each of these innovations plays a significant role in the success of the Racoon community’s project.

The team believe that “innovative ideas are rarely successful when acted upon by a single mind”. Therefore, they hope to make different innovative ideas work together by letting members of the community share their ideas about the project.

How Does The Racoon.bet Platform Work?

Racoon’s project operates a community-to-gambling platform model.

What this means is that members of the community, which consists of Racoon NFT holders and DAO members (Holders of $GRAC tokens), fund racoon.bet, the project’s gambling platform.

When you gamble on racoon.bet, you receive rewards in $GRAC (The Gaming RAC tokens), which you can exchange for a Racoon NFT or swap for another cryptocurrency on an exchange.

Getting Started on Racoon.bet

To use the Racoon.bet gambling platform and start playing the games, you need to install a Keplr wallet on your mobile device.

Here are steps to take to start gambling on Racoon.bet:

1. Install the Keplr wallet.

2. Go to Racoon.bet and click “MENU” on the top right corner.

3. Click “CONNECT” and connect your Keplr wallet.

4. Once you’ve connected your Keplr wallet, you can buy tickets and start playing gambling games such as Dungeon, Lottery, 100-sided Dice, and slots to win prizes and earn rewards.

Features of Racoon.bet

The Racoon.bet gambling platform has seen the emergence of some innovative features that make it a standout among its peers.

However, apart from the Racoon.bet gambling/gaming platform, there are other amazing features of Racoon.bet and other projects of the community.

Below you can find some of the amazing features of this innovative platform. 

Community-driven Project

It can be said that the strength of the project is in its community, as the members of the community play a vital role in the decision-making process to determine the dynamics of each project.

One of the ways that users play an important part in the project is that users who own Racoon’s NFTs, as well as $GRAC holders, both contribute to the funding of the gambling platform.

They also have their role defined for other projects such as the metaverse gambling platform currently in development.

In return for their contribution to the smooth running of the Racoon projects, the NFT owners receive a percentage of the profit from the Racoon’s gambling platform.

Racoon NFTs

Racoon’s NFTs are artificial intelligence (AI) generated and cross-chain transferable non-fungible tokens (NFTs).

The NFTs are to be issued in series of about 3 to 4 on different Cosmos parachains, and the first series has been issued on the Secret ($SCRT) blockchain.

The NFTs also have a hold-to-earn feature that allows owners to earn a percentage of the profit generated from the gambling platform.

In addition, owners of the NFTs will also have access to other benefits and utilities, such as being able to change their NFTs into more valuable ones.

Metaverse Gambling Platform

Racoon.bet is also planning to integrate their gambling platform into the metaverse.

They plan to create a metaverse gambling platform where people who are exploring the virtual environment can bet on various metaverse casino games.

Cryptocurrency Rewards for Users

When you gamble on Racoon.bet, the platform pays you rewards in $GRAC tokens.

The $GRAC token that you earn has other use cases. For example, you enjoy access to both exclusive games as well as being able to buy a Racoon NFT with your $GRAC tokens.

$GRAC Tokenomics and Utilities

The Gaming RAC token ($GRAC) is a 100% community-owned CW20 token that has a maximum supply of hundred billion tokens and lives on the Juno blockchain.

Each time a user plays on the gambling platform, $GRAC tokens are minted.

They are burned each time a user exchanges the $GRAC tokens they earn on the gambling platform for NFTs.

The tokens are also burned when users buy lottery tickets, participate in special events, play exclusive games or change their NFTs to new ones.

$GRAC Token Utilities (Use Cases)

There are many amazing use cases for $GRAC currently available for users. The team (alongside the community) will introduce other use cases for $GRAC in the long term.

Here are some utilities of the $GRAC token:

  • Exchange your $GRAC tokens for a Racoon NFT.
  • Exchange $GRAC for the gambling platform’s NFT profile.
  • Use $GRAC to play exclusive games that have higher rewards.
  • Stake $GRAC to earn more $GRAC.
  • Participate in no-risk games such as the lottery.
  • Enjoy access to exclusive games.

Final Thoughts

Racoon.bet has a fantastic gambling platform with its community governance model. 

It has the potential to become one of the best crypto gambling platforms currently available on the internet.

As a gambler, you should consider checking out this metaverse gambling project. This way, you don’t miss out on an opportunity to earn rewards while playing no-risk games!

Author GamblingVerse