Decentral Games and Vegas City recently announced their official partnership and latest joint venture – the mega-casino The Flamingos.
In its latest blog post, Decentral Games revealed that they were now a part of one of Decentraland’s Mega Casino projects. According to Decentral Games, the casino is located on 88 LAND parcels in one of the premium locations in Vegas City’s Casino Quarter.
Decentral Games will be providing the gaming content in the massive casino. The company has also shared that they will be launching a Limited Edition Flamingos Theme Slot machine. The game is only playable using MANA. Activation can only happen inside the casino.
Aside from the slot machines, Decentral Games will also be rolling out roulette tables they designed using their Decentraland SDK.
The Flamingos Casino will reportedly be split into 58 parcels and divided across three floors. Decentral Games has offered a LAND lease sale in a bid to engage the Decentraland community. It will allow community members a chance to become part of this joint venture through a Vegas City LAND lease. The sublease will be enacted via a non-fungible token (NFT) on the Ethereum blockchain.
The post also shared that of the parcels to be sold, 18 expansive floor level parcels are set to be auctioned off at a starting bid of 15 Ethereum (ETH). Twenty plots on the first floor will be sold at 10 ETH each while 20 parcels on the second floor will be on sale for 7 ETH.
Biddings for the parcels are officially open on OpenSea. Vegas City has already developed an NFT that is ERC721 compliant to represent the plots in The Flamingo Casino. Each NFT is primarily leased from Vegas City and can be purchased, sold, or transferred on third-party sites. But it’s unique from other leases since it will only need one upfront payment from the buyer.
Vegas City will make a profit for the parcels through its management of the LAND and by renting the space needed for the slot machines. Clients who buy an NFT will fundamentally become the landlord of that specific parcel during the two-year lease period.
Owners of the parcel will receive the revenue generated by the gaming content. The rent for the patch will also be taken out of said profit. According to Decentral Games, they will be paying 20% of the money created by the machines to the parcel owner until the lease renewal is paid in full. After that, the company will pay 10% of the revenue to the landlord.