FunFair (FUN): Blockchain Solutions for Gaming
FunFair is one of a range of blockchain projects that is trying to create a decentralised casino gaming and betting ecosystem. They want to shake up the online gaming and regular casino gaming industry with a supposedly more transparent and fairer product. They also want to develop a solution that is faster than those of other blockchain casinos.
FunFair was built on top of the Ethereum blockchain and uses smart contract technology to power the games. This means that the payoffs and odds on particular games are publicly auditable and are immutably placed on the blockchain. FunFair also makes use of "Fate Channels" where gameplay takes place off-chain. They hope that this will be able to increase the speed of the games.
The native token in the FunFair is the ERC20 standard FUN token. This will be used as the utility token in the ecosystem. Network participants can use FUN to place bets, buy in game credits and pay affiliates. They are also trying to develop 3D games in order to make the experience more immersive.
FunFair was established in 2017 and has offices in London, Gibraltar and Malta. It is comprised of team members who have a long history in the online casino gaming space. The FUN tokens were issued in a public ICO that took place in June of 2017. They were able to raise $26m in just under 4 hours.
The Tokens hit the exchanges in July 2017 and the price followed the rest of the market. There is decent volume for FUN tokens across a range of exchanges. This makes them more liquid and less volatile than comparable altcoins with similar market caps.