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What is FunFair? A Beginner’s Guide to a Blockchain Solution for Gaming

FunFair’s launch was aimed at disrupting the traditional casino gaming market via the implementation of blockchain technology. Even though blockchain solutions for casino gaming were in the past kind of slow and expensive, the Funfair project has beaten these odds and is at the moment pivoted on becoming the quickest, fairest, most secure, most user-friendly, as well as the most enjoyable gaming platform in the casino gaming niche.

The organization is accomplishing the latter by providing its users with a decentralized gaming experience that implements Ethereum smart contracts. Be that as it may, the question is, does FunFair have what it takes to stand out from the rest of the numerous blockchain-based gaming platforms?

Well, in this post we will try to answer this question. We will delve a little bit deeper into the technology behind the project, distinct use cases, the team behind the project, as well as the FUN token prospects.

Why was FunFair Created?

Established in Singapore in 2017, FunFair has since evolved and so far, has offices in not only London, UK, but Guernsey, Gibraltar and Malta as well. The organization is at the moment fixated on coming up with a B2B blockchain-based platform for the casino gaming industry. Significantly, the platform looks forward to bringing about access to new marketplaces, efficiency, and of course, absolute transparency.

FunFair’s creation was aimed at providing casino operators and game developers with the ability to come up with an entirely customizable gaming experience on the blockchain for such games as, among others, baccarat, blackjack, roulette, and slots, just to mention but a few.

FunFair Use Cases

  • Turnkey Solution:

Funfair enables you to create your casino within seconds and start accepting players as well as process payments instantaneously.

  • Secure:

FunFair’s serverless decentralized platform is protected from not only hacking but player or operator interference as well.

  • Fair and Transparent:

The FunFair software utilizes blockchain and Ethereum smart contracts to provide its users with unrivalled transparency.

  • Fast:

Funfair lets you enjoy gaming on demand void of delays, thanks to the revolutionary Fate Channels technology.

  • Efficient:

Games on the FunFair platform require 10 percent of the network processing costs of other blockchain-based casinos.

  • Token Powered:

The FUN token enables seamless payments and rewards for all platform participants.

Operators who obtain a FunFair license find setting up a white label casino a fast, simple, and cheap affair. By using the FunFair license and blockchain solution, operators are in a position to economize on hardware costs that come with servers, costs entailing bandwidth, chargebacks, and even on salary expenses.

FunFair’s founder and Chief Executive Officer, Jez San, says he is of the belief that the human race will in the near future live in a world where every individual will leverage blockchain technology. Basically, what this implies is that payments will in the near future be processed over the blockchain. As such, it further implies that transactions involving the use of credit cards will as well move to the blockchain.

The implication of this is that it won’t be needful for gamers to have to decide whether or not to play a blockchain based game since nearly everything digital will be blockchain-based.

What Makes FunFair Stand Out?

The key challenge for casino operators, and to be more particular, online casino operators, regards providing trustworthiness in their offerings. Casino gamers oftentimes feel apprehensive about the true odds of the games they are playing, regardless of whether the odds are vividly made available.

The latter owes to the fact that the present gaming infrastructure, given that they are server-based, are as yet prone to interference and fraud. As such, gamers have absolutely no way to gratify that everything in the games they play is fair and transparent.

In light of the fact that the FunFair platform is blockchain-based and runs off Ethereum’s smart contracts, it provides its users with a transparent, just, as well as a gaming experience that is publicly auditable. The implication of this is that gamers can rest assured the odds of the games they play are not only true and transparent, but fair as well.

Here is what Jez San, FunFair’s CEO, said in an interview with Becky Liggero:

“So, we think we can help that perception by building technology that cannot cheat anyone, because the blockchain provides our game servers. We don’t have game servers. There’s no infrastructure. There’s no thousands of servers on an island somewhere. The cost of deployment of the games is almost zero.”

The Technology Behind FunFair and its Features

The FunFair technology offers the platform quite a significant number of exceptional features that have made it stand out from the rest of the online gaming solutions insofar as innovation, fair and transparent gaming, and usability are concerned. With that in mind, let’s dig a little deeper into what particular features make FunFair stand out from the rest.

  1. Serverless Ethereum Smart Contracts

Given that FunFair runs on a server-less platform, the overhead expenses incurred by operators on the platform are tremendously reduced. The latter, in addition, guarantees FunFair users security beyond measure. The implementation of Ethereum smart contracts not only keeps the system completely decentralized, but gives room for secure and significantly affordable transactions, as well as ease of maintenance for the platform.

  1. Smart Low-Cost Gaming Experience

Having incorporated a bankless model, FunFair has to a great extent cut down on its fees and costs of transactions. It as well alleviates the necessity for a centralized administration owing to the fact that transactions in their entirety are carried out and stored on the blockchain. What’s more, the implementation of smart contracts and Fate Channels provides FunFair users with a level of efficiency, flexibility, and transparency that is, for the lack of better words, beyond measure.

  1. Lightning Speed of Play

Speed of play has for a long time now been an element that has deterred blockchain technology from being effective in casino play. Nonetheless, FunFair puzzled out the speed code for online casino gaming on a decentralized, blockchain-based platform. The platform’s design guarantees its users immediate responses, and by utilizing HTML5 for the display of its games’ Graphical User Interface, FunFair users are as such provided with top-notch graphical quality.

  1. Fate Channels are Fair

To provide its users with fair and transparent play, FunFair came up with the Fate Channel. Most significantly, the Fate Channel mitigates against the predicaments that traditional generators of random numbers have when implemented in online casino gaming.

The use of smart contract Fate Channels has done away with susceptibilities brought about by casino random number generators, at the same keeping costs at a minimum and transactions terrifically fast.

  1. FUN Token Bets

All transactions carried out on the FunFair platform are done using FUN tokens. The implication of this is that wagers, bets, and winnings in their entirety are carried out using FUN tokens. Gamers are as such in a position to cash out their FUN tokens or use them for gaming on the platform as well as for purchasing game-in credits. This usage as well stretches to game makers and affiliates, all of who are recompensed using the tokens.

  1. Innovative 3 Dimension (3D) Games

With a consolidated forty years of game design experience and collaborations with key game makers, FunFair is better placed to develop and consequently deliver among the most innovative 3 Dimension games on a decentralized platform.

Gamers will as such be in a position to access a variety of online games including poker, blackjack, roulette, and slots, just to mention but a few, all without the need of downloading anything.

The FUN Token

FUN tokens were developed following an Initial Coin Offering in June 2017. The ICO cultivated $26 M in just about 4 hours. What’s more, the token secured a listing on Bitfinex just 2 days after its development. The token’s initial ICO price was valued at 0.007 dollars for each token and up till Sep 2017 when the price more than doubled its initial price with a $0.01744 price tag. Most noteworthy, the all-time high for the FUN token was $0.1857 on the 7th of January, 2018. The token’s total supply is 10,999,873,621 FUN and its circulating supply is 6,024,937,089 FUN.

FUN tokens are ERC-20 utility tokens, purposed to specifically power the FunFair ecosystem. The tokens are futile and as such valueless outside the FunFair ecosystem. In light of the fact that all these tokens have thus far been conceived, they are deflationary in nature. What’s more, there are privacy proponents, for instance, the fact that the ownership of the FUN tokens is utterly anonymous.

All undertakings from placing bets to paying the organization’s game developers are carried out using the FUN tokens. Whatever users decide to do with the FUN tokens upon receiving is entirely up to them.

Purchasing and Storing FUN Tokens

You can buy FUN tokens at a number of cryptocurrency exchanges using USDT, ETH, BTC, or even US dollars. The biggest exchange volume of FUN tokens is at Binance. Nonetheless, in the event you are inclined to purchasing the FUN tokens using USD, you will be required to head over to Ethfinex. Other more established exchanges from where you can purchase these tokens are LATOKEN and ABCC.

Since FUN is an ERC-20 token, it can be hoarded in any ERC-20 compatible wallet, for instance, Coinomi, MetaMask, and MyEtherWallet. Be that as it may, for optimum security, it is recommended that you should not store your funds on the exchange platform or the above mentioned online-based wallets as with these platforms your funds are susceptible to fraud or theft. Instead, it is recommended that you store your FUN coins on such hardware wallets as Trezor or Ledger Nano S as they support cold storage of crypto coins.

The FunFair Team

Jez San is the founder of FunFair and he remains at the helm of the project as its Chief Executive Officer. He came to the project with a vast background in gaming and online casinos that traces back to 1982. He as well has a more modern appreciation and flair in digital currency circles. He founded Argonaut Games in the 80s, an organization that developed video games for the then revolutionary Amiga and Commodore 64 systems. He later founded PKR.com which is an online poker room that implemented real-money and 3 Dimension avatars.

Jeremy Longley, who alongside Jez San co-founded PKR.com, is the organization’s Chief Technology Officer. He is vastly experienced in both 2 Dimension and 3 Dimension game development. He has in the past spearheaded a team in the development of HTML5 and Android products, third party system integrations, accounting management features, as well as cashier systems.

The rest of the team is growing expeditiously and there are quite a number of vacancies for new developers, designers, and QA testers.

FunFair Partners

FunFair has been vigilant in creating industry collaborations and has quite a number of ongoing strategic partnerships that have played a great part in helping it garner more recognition in the casino industry. Below are some of FunFair’s partners:

  • Spike Games:

Spike Games is a renowned developer of slot games, and FunFair has been working in collaboration with them as from April 2018. They are helping in the development of new blockchain models of existent sought-after slot games.

  • Big Wave Gaming:

Big Wave Gaming is a Sidney-based slot game development organization with an eye on the Asian markets. Their collaboration with FunFair was created to offer FunFair better access to the Asian markets.

  • RakeTheRake:

RakeTheRake is a dominant rakeback affiliate. It is FunFair’s very first live operator. The low entry cost provided by the FunFair platform has enabled the affiliate to enter into casino operations by itself, taking advantage of its brand to build a customer base.

Other than its affiliations, FunFair has as well been very proactive in so far as both Ethereum and Casino expositions around the globe are concerned.

FunFair Roadmap

Since its establishment, FunFair has unceasingly hit its milestones with a lot of reliability, a factor that is auspicious for a blockchain-based project.

The most recent milestones include the instigation of its main net beta, which in the recent past successfully concluded its first phase as well as the June 2018 instigation of its very first own casino on the platform. Since then they have given notice of introducing 2 additional casinos staged to go live on their platform.

These initial establishments will offer valuable data as well as intuition into both the operator and consumer utilization of the platform. You can get a glimpse of their live roadmap here, which amply shows the organization’s past accomplishments, yet quite thin insofar as future expectations go. 2018’s 4th quarter milestones were inclusive of going live with the very first third part developed game content, as well as building the FunFair brand.

Other than the latter, the organization is at the moment underway with the process of applying for gambling licenses in Malta and Gibraltar.

Conclusion

Despite the fact that FunFair has lost quite a bit of its lustre, it may nonetheless be a gem worthy of indulgence. The ecosystem has puzzled out quite a considerable number of the longer term predicaments discommoding the online casino gaming niche, and has an operational main net product. In addition, worth noting is the fact that the organization’s management team boasts decades of experience in so far as online gaming and casinos go.

By engaging each player in the ecosystem, from its users to affiliates and game developers, it’s most likely that there will be a smart long-term move for the adoption of the platform as well as the FUN token. Furthermore, as the adoption increases, the platform and the technology behind it stand a much better chance of attracting the attention of key players in the casino industry. As much as these players are reasonably skeptic regarding its adoption and as such kind of hesitant to change, the cutting-edge innovation surrounding the project ought to in the end win them over.

As an innovative 3D online gaming platform implementing both blockchain technology as well as Ethereum smart contracts, the project is likely to fulfill its promise of becoming the future of online gaming. With a verifiably fair system, significantly reduced costs, higher speeds, reliability, and a whole lot of fun, FunFair might just be the venture to be a part of prior to blockchain really exploding into mainstream adoption.

Funfair Rating

Tech - 8.6
Economics - 8.3
Team - 8.6
Community - 9.3
Product - 8.6

8.7

Overall

User Rating: 4.25 ( 2 votes)

About Emmanuel Sindani

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