FunFair makes online casinos more accessible, both for casino owners and players. Via blockchain technology, the platform lets anyone run a casino regardless of where they are or who they are. The platform also delivers unrivaled transparency and player protection, and it should open gaming up around the world.
The platform behind FunFair allows casino operators, affiliates, game developers, and players to all interact in a way that benefits everyone while providing entertainment and efficiency. With Fun tokens, Fate Channels, and Ethereum blockchain technology, FunFair makes this all a possibility.
How Did FunFair Get Started?
FunFair Technologies officially began in 2017 by Jez San, a British investor and technology entrepreneur with a prominent record of success. Jez earned an OBE for his services to the computer games industry having designed the 3D chip for the SNES games console which powered the game StarFox. He also saw huge success when he founded 3D online poker room PKR and microprocessor developer Arc International.
The headquarters are in Singapore, and the related companies are located in Guernsey, Gibraltar, Malta, and London. San and the other founders, Oliver Hopton and Jeremy Longley, had been working to harness the blockchain’s potential since early 2013.
This group of founders wanted to see if it was possible for anyone to run a casino with the blockchain and answer why trust was even an issue for players when the blockchain could provide transparency. They also were curious about the possibility of online gaming globally via the blockchain. After showing their first game in 2017 in Paris, the positive response led them to publicly launch FunFair in April.
Get to Know the Platform
The FunFair platform uses the Ethereum blockchain and protocol to make it easier to create casinos, as well as more affordable to run them. With this technology, they are also fairer and faster to play and able to reach players worldwide in a way that other platforms cannot.
The platform provides a turnkey solution, allowing users to create their casino in just seconds. From there, they can immediately begin accepting players, as well as processing payments. Because the platform is decentralized and server-less, there is no risk of operators or players interfering or hackers affecting the system. The fairness associated with FunFair comes from the use of the blockchain, as well as smart contracts, which provide transparency.
FunFair includes its own Fate Channels technology, which provides gaming on demand without any delay. The FUN token makes payments and rewards seamless for everyone participating on the platform. To top it off, the games are highly efficient, requiring only 10 percent of the network processing costs associated with other blockchain casinos.
How Is FunFair Different from Other Online Casinos?
FunFair takes the instant gaming and rich user experience of traditional online casinos and combines them with the transparent coding and decentralized platform of blockchain casinos. It then adds unique features, such as the ability to access new markets and low operating costs.
What Games Does FunFair Include?
The team behind FunFair has already developed numerous prototype casino games that are powered by its technology. With these prototypes, it becomes clear that FunFair’s platform truly works and is ahead of the crowd.
Some FunFair Statistics
The global gaming market is $46 billion, which makes the $26 million raised during the June 2017 token event even more impressive. Users are already very active with FunFair, with the estimated cash-out time at just 30 seconds.
What Should You Know About FUN Tokens?
FUN is the platform’s native digital token, and it powers all aspects of FunFair’s gaming ecosystem. FUN is what players use to bet and is the reward they receive from casinos. Developers earn FUN for their games, and the token allows for key processes within the network. The Phase 1 Token Presale was on June 22, and it sold out in just four hours. During that time, the team raised $26 million.
FUN is quick and easy to send because it is part of the Ethereum blockchain and an ERC20 token. This means that this digital asset has smart contract administration on the Ethereum blockchain. Owning individual FUN tokens remains anonymous but all transactions are recorded publicly and can be tracked with Etherscan or other similar systems for complete transparency.
FUN is also deflationary, as the tokens were created once in a capped amount. The supply will contract while demand rises, causing deflation. There is a total of 11 billion FUN tokens in existence. The FunFair founders hold 2,299,005,566 of these, and they are currently locked, to be released over the course of 18 months. As of October, 4 billion tokens were in circulation. 4,700,994,434 FUN are in cold storage.
As of Nov. 16, each FUN is equivalent to $0.0161043 USD. On that day, there was a FUN market cap of $64,417,200 and a FUN volume (over 24 hours) of $1,302,130 USD. FUN is already on multiple exchanges, including Nova Exchange, HitBTC, EtherDelta, Bittrex, and Binance.
How You Use FUN
Everyone involved in FunFair will use FUN. Casinos, including both individuals and organizations, can offer casino games that use FUN tokens. FUN is the token for in-app purchases in freemium casino games, letting players earn achievements and rank on leaderboards. FunFair is open to all developers, and the best games will generate revenue in FUN tokens.
Storing FUN in a Wallet
Because FUN is an ethereum token, you can store it in your normal Ethereum wallet which accepts ERC-20 tokens. The most popular way is to create a paper wallet using MyEtherWallet, read our guide to setting it up here.
You can also use a Hardware wallet such as the Trezor or Ledger, both devices store Ethereum tokens so this is the safest way to store your tokens.
How to Buy FUN
Now you have your wallet setup, you will want to purchase some FUN Token to hold in it. You are not able to purchase FUN with “Fiat” currency so you will need to first purchase another currency – the easiest to buy are Bitcoin or Ethereum which you can do at Coinbase using a bank transfer or debit / credit card purchase and then swap that for FUN at an exchange such as Binance.
Register at Coinbase
For first time buyers of crypto currency, we recommend that you use Coinbase to make your first purchase – its easy to use, fully regulated by the US government so you know it is one of the safest and most reputable places to purchase cryptocurrency from. Coinbase offers the ability to purchase Bitcoin, Litecoin and Ethereum with a credit or debit card or by sending a bank transfer. The fees are higher for cards but you will receive your currency instantly.
You will have to carry out some identity verification when signing up as they have to adhere to strict financial guidelines. Make sure you use our link to signup you will be credited with $10 in free bitcoin when you make your first purchase of $100.
To get started, click the “Sign up” button where you will be taken to a registration form where you will need to enter your name, email and choose a password.
Coinbase will then send you a link via email to verify your email account, once you click the link in the email you will be taken to a verification page. You must then add your phone number and upload a photo of your ID – this can be a passport, driving license etc. You also have to add your payment details, so you can add your bank account or a debit or credit card as required – after a short period your account will then be verified and you can then make your first purchase.
Purchase Ethereum or Bitcoin
For this guide, we will be purchasing Ethereum to swap for our target cryptocurrency. The reason for this is that it has far cheaper fees than bitcoin for sending and the transaction also happens a lot faster. So in Coinbase, visit the “Buy / Sell” tab at the top, select “Ethereum”, choose your payment method and enter the amount you wish to purchase – you can either enter a US Dollar amount or a number of Ether.
You will then be asked to confirm your transaction, if paying with a card you might have to complete a verification with your card provider. Once that’s complete, your Ethererum will be added to your account.
Purchase FUN at Binance
You can now send your Ether over to Binance to make your purchase of FUN, take a look at our review of Binance here to see how to signup and purchase on their exchange.
Once you have purchased your Funfair tokens, we recommend you withdraw them to your Ethereum wallet rather than leaving them on the exchange.
What Benefits Does FunFair Provide?
FunFair has benefits for everyone involved in the process, including casinos, players, and developers. Casinos will appreciate the low cost due to the lack of server racks and hosting fees. The setup process is incredibly simple, and the team provides ongoing support. Casinos will also appreciate the extreme security of the system due to its decentralized software, plus the focus on the user that players demand.
Players will appreciate that focus on users, along with the fairness and transparency from the blockchain. Gamers will also appreciate the speed of games without delay and the security that ensures their money or personal information is never at risk. Of course, they will also love the immersive graphics, along with innovative features. Developers will benefit from the ability to lead the way to the future, get paid, and create a fair casino system.
Conclusion
FunFair is indeed a pioneer in the world of online gaming and casinos. Its B2B platform relies on the latest blockchain technology to deliver efficiency and transparency while expanding the casino sector to include new markets.
