Station Casinos has recently made a noteworthy announcement that they are launching Non-Fungible Tokens (NFTs) on their Boarding Pass loyalty platform. The STN Charms program is now operational and all Boarding Pass members are enrolled. These NFTs are intended to provide personalization to customers and the potential for them to make a profit with the tokens.
When customers card-in, they will be rewarded with the debut shamrock Charm, a distinct digital asset that is displayed on the slot machine’s service window. STN Charms offer patrons a new and revolutionary way to improve their gaming experience with accessible and customized NFT Charms that increase luck as they win. Gamers can also see their Charms on the STN Charms website, an online marketplace where customers can buy, sell and browse the catalogue of available Charms.
Red Rock Resorts, the parent company of Station Casinos, operates its namesake casino in Summerlin and the Green Valley Ranch in Henderson and various other gaming properties under the Station brand across the Las Vegas region. Additionally, the company operates 10 Wildfire casinos, including seven in Henderson, as mentioned on their website.
Station Casinos is not the first gaming company to venture into the NFT sphere. Despite the fact that NFTs had gained popularity in 2020 and 2021, only to witness a decrease in prices last year, they are still well-established in the online gaming industry. Now, Red Rock is among the first operators to bring the concept to land-based casinos.
The NFT is an emerging digital asset class and while it is possible that the enthusiasm for digital collectibles and prices may eventually recover, many collectors still favor something physical that they can hold, store or hang on their walls. Much of the fascination of NFTs from an investment perspective is predicated on the concept of scarcity. Prices for easily accessed or obtained NFTs are now at rock-bottom levels, which may not affect the STN Charms, yet could limit the Boarding Pass members’ ability to gain profits from their earned NFTs.
In the case of STN Charms, there are five levels of frequency of appearance: common, uncommon, rare, epic and legendary. Guests can collect them all, as new Charms will be released every month. Every Charm is different in three ways: by category (lucky penny, shamrock, horseshoe, panda, etc), by one of five rarity levels based on their scarcity (common, uncommon, rare, epic, and legendary) and by luck level, which is the value related to the customer’s winnings whilst the Charm is active on the slot machine.
NFTs are especially popular among young investors and tech geeks. The average visitor to Red Rock establishments is generally older, so their reception to NFTs is uncertain. Nevertheless, STN Charms may be welcomed by gamers frequenting locations such as Green Valley Ranch and Red Rock, as the charms can be placed on slot and video poker machines for good luck.
