FunFair (FUN): Online Gambling Backed by Ethereum Smart Contracts

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FunFair coin logo

FunFair is an online casino gambling platform that capitalizes on the power of blockchain technology to achieve fast real-time bets through high quality 3D gaming. It is essentially a marriage between successful digital casino games built on Ethereum-based technology to create fast, safe, and cost-effective online play.

In addition to instant and fair play for users, the platform enables operators to publish online casinos using FunFair’s patent-pending software.

All platform actions are carried out through the $FUN token, a unique cryptocurrency which has similar function to casino chips.

For reference, check out the official FunFair website here: https://funfair.io/

How’s FunFair Changing the Online Gambling Industry?

Latency in blockchain-based games has been a source of frustration for gamers for years. Because multiple actions must happen (ideally, simultaneously) when a user initiates an action — such as rolling the dice — games are often slow, costly, and computer resource intensive.

FunFair has finally fixed this complex problem.

The platform’s technology makes instant play possible. Not only are games fast and responsive, but they are also built using HTML5 and WebGL standards to deliver high quality 3D graphics on both desktop and mobile devices.

FunFair technology also outplays traditional Ethereum blockchain systems by opening a State Channel throughout the duration of a gaming session. This patent-pending advancement is called a Fate Channel, capable of handling hundreds of individual game outcomes at a time.

Fate Channels are meant to improve both the speed of play and fairness. Able to ensure random number generation, the technology produces “fated” but unpredictable sequences and results. This re-iterates the developers’ motto of fun, fast and fair online gaming.

Another game-changer worth noting is that FunFair is 10X cheaper per bet than its competitors. By lowering transaction costs, the platform increases player winnings as well as profits for casino operators.

Technology Review: Why is FunFair Superior?

FunFair uses several techniques that give it a leg up on most, if not all, online gaming platforms.

1) Serverless Ethereum Smart Contracts:

By eliminating third party institutions, FunFair operates a decentralized system that provides secure and inexpensive transactions and maintenance. Without middlemen, the platform can run without a server while ensuring protection for users and lowering overhead costs for operators.

2) Smart Low-Cost Gaming:

A bankless design also means lower fees and transaction costs. The blockchain stores transactions without going through a centralized authority. And with Fate Channels and smart contracts in play, users enjoy unprecedented transparency, efficiency and flexibility.

3) Lightning Speed Play:

FunFair has cracked the code of interactive online entertainment. On one side, games are built using HTML5 for exceptional graphic quality. On the other, the platform speeds up the pace of gameplay to instantaneous. Play a game on their live demo, it’s awesome!

4) Fate is Fair

The Fate Channel is a provably fair system that eradicates common problems of random number generation in gaming. By creating smart contracts between player and operator, FunFair eliminates the slowness, high costs and vulnerability that are all too common with traditional casino random number generators (RNGs).

5) Playing with $FUN Tokens

All bets, wagers and payments on the FunFair platform are made with $FUN tokens. Players can use tokens to buy in-game credits, play and get paid with $FUN. Game makers, as well as affiliates are also compensated with this convenient and branded currency.

6) Innovative 3D Games

With combined experience of 40 years creating and selling entertainment products, the founders of FunFair develop innovative, blockchain-based 3D games for the platform. Games do not require an app to download.

Though the team currently has ten full-time developers, the platform aims to grow their network around the world. Players get access to casino games like slots, blackjack, roulette and many more.

Showcase of the $26 million dollar FunFair ICO featured on TheBitcoinStrip.com

FunFair ICO: $26 Million Dollar Coin Raise

FunFair’s phase 1 of their ICO on June 22nd 2017 ended in the platform raising $26 million, exceeding their hard cap by $1 million. Founding developers generated 1.7 billion FUN tokens which will be able to be exchanged for multiple fiat currencies.

At the end this event, the platform created three times the amount of additional FUN tokens sold. These will be offered in phase 2 in a Dutch auction scheduled to take place in November 2017. Tokens not sold will be available on a pro rata basis to phase 1 holders.

An additional 66 tokens were created for every 100 created through the presale. These were allocated to the platform’s founders, angel investors and developers and are to be released over 18 months.

A third of the raised funds was allocated to developing games and system protocol. Another third is assigned to business development and marketing, and the rest used to support licensed and interested third parties.

The currency’s value is likely set to increase in future as adoption increases among gamers, developers, affiliates and operators.

The FunFair Executive Team

FunFair’s founders and executive team consists of veteran programmers, developers and cryptographers. Key members include:

1) Jeremy “Jez” San, CEO

Jez San, now CEO of FunFair, founded one of the first British games development companies, Argonaut in 1982. His creation led to the development of a string of highly successful games such as Harry Potter, StarFox and Croc. He is also a noted pioneer of 3D graphic games, creating one of the earliest 3D games StarGlider.

Headshot featuring Jez San
Jez San, Founder & CEO, FunFair Technologies

Jez’s experience in 3D computer graphics led him to co-invent the first custom chip ever used in a game system. This chip rendered Super FX graphics and was used in a RISC processor by Nintendo.

Throughout his career, Jez has lent his expertise to high profile developers in the gaming world, some of whom include Ninja Theory, Origin8 and PKR.com. He played a significant role in developing 3D gaming technology for a top online poker room.

For his contribution to game services, Jez was made an Officer of the Most Excellent Order of the British Empire in 2002. He has also invested in artificial intelligence pioneering technology DeepMind Technologies and cryptocurrency Kraken. Jez continues to support the industry as an angel investor.

To learn more about Jez San and his background, checkout his Wikipedia page: https://en.wikipedia.org/wiki/Jez_San

Headshot featuring Jeremy Longley the CTO of FunFair Technologies
Jeremy Longley, CTO

2) Jeremy Longley, CTO

Jeremy Longley is a leading expert and co-founder of PKR.com.

He founded the online gaming site alongside Jez Sans in 2005, which went on to win multiple awards as a top 3D game environment.

In his 15-year career, Jeremy has developed a range of 2D and 3D casino games.

He also led a team to develop innovative HTML5 and Android products, cashier systems, account management features, and third party system integrations. Jeremy currently serves as CTO of FunFair.

3) Dr. Timo Hanke, Technical Advisor

Dr. Timo Hanke is the technical advisor of FunFair. During 15 years of research in computer algebra, mathematics and number theory, he has served as Chief Cryptographer of CoinTerra Inc. Dr. Hanke has acquired immense experience in cryptocurrencies such as Bitcoin and has published articles in scientific journals of prestigious institutions around the world.

How and Why to Invest in FunFair?

FunFair is a gem hidden in plain sight, seriously. It is a worthy investment considering the platform solves many long-standing, complex gaming problems. In addition to having a gaming prototype which is both functional and fantastic, its management team is highly experienced and are proven experts in their field.

Involving developers, affiliates and players is a smart monetization and marketing model. There is also high potential for the platform to power other businesses as it is a tech company at heart. Although the current token price is around $0.02 at the time this review was posted, it would be wise to invest as it is likely to increase which would produce significant returns for investors.

Investing in $FUN tokens is easy through Bittrex.com making it accessible for investors, especially those located in the USA who regularly purchase alt coins on Bittrex, currently.

What's on the timeline for FunFair in 2017
FunFair’s 2017 Roadmap

The FunFair platform demo is set to take place at Devcon3 in November 2017. The Alpha Release Q4 2017 platform testing, as well game release Craps and Video Poker MVP will also follow.

It’s important to recognize that unveiling FunFair publicly at Devcon3 will create a lot of interest and attention which may cause the price of $FUN tokens to rise as investors recognize the potential. If you’re interested in investing in FunFair, the sooner you do will likely yeild the greatest returns given their roadmap.

Get in touch and stay updated with FunFair token events and news by joining their Facebook group, following on Twitter, and finding more FUN information on Reddit.

FunFair seems to be living up to its public expectation as the “future of online gambling”. An innovative platform driven by pioneers of 3D gaming, Ethereum and smart contract minded players, developers and operators finally have a system that delivers instant play, fair game odds, low costs, higher profits, reliable efficiency and most important… plenty of FUN, and maybe some PROFIT if you’re an investor or player!

Disclosure: Author of this post holds $FUN tokens at the time this review was published.