Collaborating with Station Casinos showcases the integration of cutting-edge technology and innovative gaming concepts, bringing players a seamless and secure payment experience within NFT-based loyalty programs. The partnership will bolster both companies’ long-term objectives, strengthening their market presence and demonstrating the benefits of strategic collaborations.

Players Will Benefit from Quick and Efficient Payments

STN Charms, launched by Station Casinos on 31 March, introduces players to a unique loyalty concept. The platform allows players to earn digital charms that can be collected, levelled up, bought, and sold on the marketplace. This concept adds a new dimension to traditional loyalty programs, leveraging NFT technology to create engaging and valuable player rewards.

As the exclusive payments provider for STN Charms, Trustly will power the platform’s payments infrastructure. Players can use Trustly’s Open Banking Payments solution to facilitate secure and instant deposits and withdrawals within their STN Charms wallet. Trustly’s VP of Gaming, John Parsons, noted that the project highlighted the benefits of an integral payment system for the members-only marketplace.

Our work with (Station Casinos) has allowed us to show how Open Banking technology can assist in creating a ground-breaking loyalty program.

John Parsons, Trustly VP of Gaming

Trustly will collaborate with CentralAMS, which currently powers Station Casinos’ digital wallets and is the operator’s merchant of record. This three-way partnership creates a convenient and user-friendly experience for players, allowing them to manage their funds within the NFT loyalty marketplace. Such convenience is paramount to creating a healthy financial ecosystem, empowering users to capitalize on their successes.

Trustly Remains at the Forefront of Innovation

The collaboration between Trustly and Station Casinos highlights the growing convergence between online payments and innovative gaming concepts. NFTs, or non-fungible tokens, have gained immense popularity for their ability to monetize unique digital assets, and the integration of NFTs into the loyalty marketplace concept adds a new layer of excitement for players.

Trustly’s involvement in this project underscores its commitment to supporting the gaming industry’s evolution by delivering cutting-edge payment solutions that enhance player engagement and satisfaction. Such initiatives will be instrumental for the company’s ambitious expansion efforts as it leverages its recent purchases to create a robust and cutting-edge payment system.

By partnering with Station Casinos in powering STN Charms, Trustly continues to solidify its position as a leading player in the Open Banking payments space. Creating exceptional experiences in traditional and emerging gaming concepts perfectly aligns with the company’s long-term goals as it aims to solidify its palace as one of the industry’s go-to payment providers.

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Famous American hotel and casino company Station Casinos announced the launch of an all-new non-fungible token (NFT) casino loyalty rewards program called STN Charms. Unveiled last week, the innovative loyalty program launched for all of the company’s properties starting on March 31, 2023.

Thanks to the new program, Boarding Pass members will tap into unique NFT loyalty rewards. The program is expected to significantly boost player retention and engagement, delivering new experiences via personalized NFT Charms.

The new charms enable the members to level them up, along with winning. Moreover, an STN Charms website enables players to view their Charms and even buy, sell or browse from a catalog.

Station Casinos revealed that the new STN Charms were developed in collaboration with Mintable Pte, a leading web3 service and technology provider, as well as Intergalactic Agency Inc. While Mintable helped develop the STN Charms website platform that serves as an online marketplace, Intergalactic played a key role in the design of the new Charms.

According to Station Casinos, there are different ways for guests to earn Charms. Besides being separated into categories such as panda, shamrock, horseshoe and others, the Charms have different rarities such as legendary, epic, rare, uncommon and common. Another trait that the Charms have is the luck level, which the company said is “the value associated with the guest’s winnings while the Charm is active on the slot machine.”

The Program Is Expected to Bring Exciting Moments

Pat Gordon, Station Casinos’ director of innovations, explained that the latest addition helps boost the company’s loyalty program by delivering personalized NFTs. At the same time, he outlined that the new NFTs can be stored within a Charm Box and also undergo leveling up. “No additional enrollment is needed as guests can maximize the program by opting into Charms at their first card in,” said Gordon. Finally, he pointed out that guests of Station Casinos can expect multiple free digital good luck NFT Charms.

“We are thrilled to be launching this innovative program to create a more engaging way for our guests to earn unique rewards and customize their play.“

Tom Mikulich, senior vice president of innovation at Station Casinos

Tom Mikulich, Station Casinos’ senior vice president of innovation, was similarly excited about the new announcement explaining that the company is delighted to deliver new and engaging experiences for its guests. In conclusion, Mikulich predicted that the new STN Charms will improve and modernize the company’s loyalty program and bring engaging and rewarding features for Station Casinos’ guests.

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DraftKings’ substantial investments into the NFT space have drawn their share of controversy as prices plummet and user interest wanes. The operator also faces a class action lawsuit for allegedly marketing its NFTs as securities without proper registration. DraftKings continues to press on with NFT-based promotions and partnerships and will likely continue to do so as long as its marketplace remains active.

The Plaintiff Mistakenly Believed Profits Were Guaranteed

The leading US operator entered the NFT space in 2021, hoping to capitalize on the latest trend and bolster player engagement. DraftKings has since steadily developed its ecosystem, partnering with various leagues and expanding its offerings. However, the sharp drop in interest and plummeting NFT prices have dampened the operator’s ambitions in the sector and even led to potential legal issues.

A new class action lawsuit alleges that DraftKings sold its NFTs as unregistered securities, misguiding buyers about their investments’ long-term value. Illinois resident Justin Dufoe claims to have lost over $14,000 as his purchased NFTs drastically declined in value. The plaintiff allegedly expected surefire profits when trading his NFTs due to their marketing as securities.

Defendants had actual knowledge of facts indicating that the NFTs they promoted and sold were ‘securities’ under federal and state securities laws and… failed to register their NFTs as securities.

Justin Dufoe v. DraftKings, Inc.

Dufoe argued that the value of his purchases depended on DraftKings’ management efforts at the moment of the purchase and regarding their closed secondary market. The proposed lawsuit includes all investors who purchased DraftKings NFTs after 11 August 2021. Regardless of the court’s final verdict, such cases erode trust in NFTs, threatening to depreciate their value even more.

DraftKings’ NFT Marketplace Is Here to Stay

FTX’s dramatic implosion did not leave NFTs unscathed, sending their price nosediving. The waning hype regarding the technology and several high-profile scandals where hackers stole celebrity-owned NFTs did not improve the situation. Despite such negative pressures, the market appears to have reached an equilibrium, with the number of transactions steadily rising in the first months of 2023.

NFTs’ status as novelty items and a platform for speculation mean that the average user is unlikely to make any real profits. However, their accessibility helps onboard new crypto users and keep them engaged for as long as possible. The real winners are companies like DraftKings with established secondary markets, reaping the benefits of resale fees and commissions.

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