Rakebit Sells VIP Status as NFTs in Groundbreaking Casino Launch

Rakebit, a crypto casino and sportsbook, has made history by launching a mystery box NFT collection called RakeBears. This innovative project marks the first time a casino has sold VIP status on its platform as an NFT.

The minting process is open now, with each box available for $100 in USDT, USDC, or ETH. The total supply is capped at 1,000 bears on Ethereum, and buyers can purchase up to five boxes per wallet. The odds of receiving a specific tier are fixed on-chain: 700 Bronze (70%), 250 Silver (25%), and 50 Gold (5%).

Each RakeBear comes with a one-time promo code that grants access to the casino's VIP levels. The Bronze tier unlocks the High Roller 8 level, offering 10% rakeback and 6% cashback on every bet. Silver holders get Diamond Hand 1 at 8% cashback, while Gold owners jump straight to Diamond Hand 4, a status usually reserved for players who have wagered $150,000 cumulatively.

Rakebit's NFT collection is notable because the utility activates immediately after minting. Players can use their promo codes within 12 hours of activation and will receive a $50 bonus regardless of the tier they receive.