Please share with your readers your analysis of and frank opinion about Station Casinos STN Charms.
And
What does anyone think of the Station Casinos Charms promotion which is that little NFT promotion where people interact with, collect, buy, and sell those little NFT charms through their slot machines? Is there any financial value to those charms or is it strictly a gimmick to get people to gamble more? What are non-fungible tokens for actually and what you can do with them?
Frankly, we've received a number of questions about Station's NFT promotion and we've hesitated to answer any. But we finally put aside our dread and bit the bullet and we tackle it here, for better or worse.
NFT stands for "non-fungible token." Right there, the whole concept gives us pause. Non-fungible means something that's unique and can't be replaced, but in this instance, any slot player can't get them. Also, "token" means something that has little practical value (as a token of my appreciation, I'd like to give you this photo of ... me).
NFTs represent digital artwork that, via blockchain technology, can't be duplicated or replaced. They come with unique identification codes and metadata that distinguish them from other tokens. In other words, if you’re on a blockchain, your NFT has an individualized marker that shows it’s yours and only yours. This uniqueness prevents it from being copied or subdivided. It also allows you to sell and trade NFTs -- which brings us to the value question.
We contacted Station Casinos and Alex Acuna, VP of public relations, addressed it.
“The value of each digital, collectible, good-luck Charm, like other collectibles, is inherently subjective and may be based on a variety of factors unique to that Charm and to interested buyers, based on the different characteristics of the Charm."
He adds, "Please note that these NFTs aren't a medium of exchange or convertible virtual currency and do not grant the owner any rights associated with owning a security.”
So. Sentimental value? Maybe, depending on "inherent subjectivity."
Monetary value? For the player, probably not -- unless for some (unexplainable) reason these slot machine images catch on and/or the greater-fool theory kicks in. For Station Casinos, maybe. Acuna explains, "Players can buy more Charms via the Station Charms website, either in the marketplace or the Charm Shop. Currently, players can collect 86 Charms, many of which are yet to be owned.”
They're not owned because there are five "luck levels" of the Charms: common, uncommon, rare, epic, and legendary. As Charms increase in rarity, they become more difficult to obtain. in other words, you have to play more to get them.
Back to Acuna, "You level up Charms by playing with a Charm on a slot machine. Players select any of the charms in their Charm Box on any slot machine. Whichever Charm they choose increases based on play, while that charm is active. When the player wins, so does the Charm." He didn't mention if, when the player loses, the Charm loses.
As for our frank opinion, we can, first, point you to the discussion on the LVA YouTube a few weeks ago. Click the white arrow at the bottom of this answer and you'll get Anthony's take, along with some first-hand experience from podcast guest Blair Rodman, starting right at the 15-minute mark. To put it mildly, they aren't impressed. A.C. asks right from the start, "What is this stupidity?"
To us here at QoD, this promotion seems like the digital equivalent of charm bracelets, with some charms more "valuable" (i.e., costing more) than others, though they all occupy the same place, dangling off a manacle on someone's wrist.
You can earn Charms by booking hotel nights, in addition to playing the machines. Station says that it's “striving to reshape casino loyalty through a sustainable and competitive advantage utilizing recent trends in technology by offering guests exclusive limited-edition collectible NFTs based on their play.”
Ooookay. But is this a passing fad? Or the wave of the future? Only Station's slot players have the power to decide that.
But after wading through all this tech babble and PR hype, the whole thing really boils down to this: Would you rather be rewarded for your play with Internet trivia images or fungible comps and freeplay?
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Kevin Lewis
Jun-09-2023
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O2bnVegas
Jun-09-2023
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David
Jun-09-2023
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jpfromla
Jun-09-2023
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Brent
Jun-09-2023
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[email protected]
Jun-09-2023
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jay
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Mufasa Thedog
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Deke Castleman
Jun-09-2023
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Raymond
Jun-09-2023
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Texas Transplant
Jun-09-2023
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[email protected]
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Doc H
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Dorothy Kahhan
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Jxs
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Steve
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[email protected]
Jun-10-2023
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