The first ever NFT project launched by a casino — Rollbots NFT

Abhimanyu

The NFT world is evolving at lightning speed, and here is another NFT project that has come up with some creative utilities and incredible art. Rollbit, an online casino platform specialising in cryptocurrencies, recently launched their 10K NFTs collection called Rollbots.

Each Rollbot is a Pixar-style piece of digital art on Ethereum blockchain that doubles up as a VIP membership card as you’d get at a regular casino. The benefits of that membership are massive and thoroughly detailed out in their impressive NFT whitepaper.

Founded in February 2020, the Rollbit platform hosts a diverse selection of online games, including slots, table games, game shows and exclusive in-house games. Here is why I feel this project is grossly undervalued and has the potential to become a multi-bagger.

1. Exceptional utilities right from the moment of launch

Most NFT projects lay down an initial road map and work on it after the launch of their NFTs collection. They essentially use the funding from NFTs sales to build the product.

Rollbots NFTs did this the other way round. The Rollbit casino has been fully functional since Feb 2020, and the Rollbots NFT provides utility right from the moment of launch. One of the most exciting utilities is that the holders can create their Rollboxes that give players a chance to win high-valued NFTs.

What is a Rollbox?

A Rollbox is like a slot machine that one can set up using their Rollbots NFTs. Holders can easily transfer their existing NFTs to their Rollbit account and create a Rollbox. The Rollbit casino users can then play on those Rollboxes and win the NFT. In return, the Rollbox creator receives a significant percentage of the wagered amount as profits.

The fun part is that one can set the price and winning probabilities of the Rollbox. You can also add cash prizes (paid by Rollbit) to make your Rollboxes lucrative. For math lovers who also have a high risk appetite, this could be an interesting puzzle to solve.

Here are some of the different utilities that every Rollbots holder can enjoy right from the beginning:

  • Creating custom Rollboxes and earning passive income from NFTs
  • Profit-sharing from the NFT marketplace (discussed in next section) and a portfolio of new Rollbot-related games (to be announced)
  • An enhanced reward program for the user’s casino and trading account on Rollbit
  • Access to an exclusive Rollbot Lottery, where Rollbots holders perpetually earn tickets for the weekly draws (to be announced)

2. Flexibility to trade on Rollbit NFT marketplace & share profits

If you are new to NFTs and want to understand how to create a crypto wallet and buy NFTs, read this article.

But if you wish to buy and sell a Rollbots NFT, you don’t necessarily have to follow any of those steps. You do not even necessarily require access to the OpenSea marketplace. One can now directly transfer ETH, BTC or LTC from any crypto exchange such as Coinbase to their Rollbit account and begin trading on their NFT Marketplace. And guess what there are no gas fees!

Not only that, every Rollbots holder has the option to stake their Rollbots and earn a small percentage of profit share (marketplace fees) from all NFT sales on the marketplace. It may not seem too high in the short term, but in the long run, it can add up to significant amounts.

The exact profit share from staking will depend on the rarity of the hat that the Rollbots wears as detailed in their whitepaper.

3. The team is confident of delivering value

The Rollbit team is so confident that people would want to hold onto their NFTs, they publically announced a buy-back scheme in advance. As part of that, they are buying back Rollbots at cost price from all interested holders approx 30 days after the sale. The buy-back will start from Nov 20, 2021, and continue within a two days window.

Not only that, but they also offered to buy back the top 25 special Rollbots each for $25,000 to ensure a high enough starting floor price.

I am not surprised by those decisions at all. I was lucky enough to be part of the presale event where 2000 Rollbots were on sale at a discounted price of $500. The presale Rollbots were sold out within 25 secs. Yes, less than a minute. The public sale, at a higher cost of $1000, was sold out within an hour.

They’ve been in the business since Feb 2020, far before they launched the NFTs collection. So, far they have delivered every roadmap item as they promised, with a few exceptions. There are announcements every week on their Discord, and they are pretty transparent with their communication.

4. A supportive community of casino lovers

Upon engaging with everyone on their Discord, I realised I am probably an outlier who has hardly played much in casinos. Most people there seem to be across all the different terminologies and a wide variety of gambling games.

It took me a while, asking too many newbie questions, to wrap my head around the whitepaper and understand the project. To my surprise, people were patient enough to explain everything and point me in the right direction for further research.

For a project with a narrow niche like this, the NFT holders mix must be relevant. The OG NFT community may not be aware of this project, but an appropriate user base of casino lovers are all over it, and that’s what makes me bullish about this project.

5. The artwork is impressive

All said and done about the utilities, everyone still enjoys the artwork, and Rollbots art is quite impressive. The Rollbots are Pixar-style pieces of digital art that look like a slot machine, or at least that’s how I visualise them.

Each time I look at a Rollbots, it feels like I can insert coins into its head, pull the button or handle next to its ear and prizes will come out of its mouth. Sounds funny, but an art that can help you visualise something like that is truly remarkable.

Here are the two Rollbots I managed to purchase during the presale.

A collection of all the Rollbots NFT artwork is accessible here.

Why are rollbots NFTs undervalued?

If the Rollbots NFTs have so much utility and potential, why is it still undervalued and not much admired across the NFT community? Here is what I think the reasons may be.

  • The Rollbots NFT whitepaper is extensive and well explained, but it is complex enough for an average person to understand the benefits and value of the project.
  • Most people use the OpenSea marketplace for trading NFTs. Rollbots NFTs are there, but every holder has to transfer their NFT from their Rollbit account to OpenSea. Most people have not done it and therefore, the unique holder count is skewed and seems too low.
  • The project is still not on rarity.tools or any other rarity rankings tool. A lot of NFT enthusiasts use these tools to browse collections.

It is just a matter of time that all the upcoming utilities get unlocked and the project gains traction. If and when that happens, it could be massive.

Final thoughts

NFTs are still in a nascent stage of their evolution, as a tradable asset, and investing in them is highly risky. They are volatile, and one must do proper research before making any investment decisions. It may not be a wise decision to put all your savings into NFTs. So make sure you only invest what you can afford to lose or at least do not need for covering your day-to-day expenses.

The Rollbots NFTs seem undervalued right now and looks promising in the long term. The current and upcoming utilities have immense potential. Only time will tell if they turn out to be a lucrative investment.

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I write about the latest in blockchain technology, cryptocurrency and NFTs. I specialise in breaking down complex information into simple language so it's easy to comprehend even for non-technical folks. Sometimes, I also enjoy writing about life experiences that are relatable and can help others in one way or another.

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