Category Archives: FunFair News
Nugget’s News Update: Funfair Fundamental Analysis
Source: Nugget’s News
NEW YORK, NY – July 6, 2017 – Tech entrepreneur Jez San’s latest venture, FunFair Technologies, has raised a landmark sum from the presale of tokens that will eventually power every aspect of its blockchain-based gaming technology platform. FunFair is designed to deliver unrivalled transparency for consumers and efficiency for casino operators.
Slated to last a maximum of 15 days, FunFair’s Phase 1 Token Presale on June 22 sold out in just 4 hours, having reached its hard cap of $10M in contributions made using the Ether cryptocurrency. FunFair also received more than $15M in Bitcoin and other cryptocurrencies from individual contributors as well as institutional funds, including Kryptonite1, Block Tower Capital, and Pantera Capital.
“I’m thrilled that the blockchain community and institutional investors have so emphatically backed the team, our vision and the progress we’ve already made,” said Jez San OBE, founder and CEO. “Now it gets even more exciting as we work towards a live platform and the creation of a truly fair, transparent and player-focused gaming world.”
“FunFair is an incredibly clever Ethereum-based casino games company – decentralized, P2P, provably fair online gaming. My intuition is that Funfair is going to be huge,” noted Dan Morehead, Founder and CEO of Pantera Capital.
“Funfair will be one of the first practical applications to go live on Ethereum, and it actually solves a real problem of high casino fees and trust. It’s an Ethereum app that I could actually see my grandma using, which is pretty cool!” remarked Joey Krug, Co-Chief Investment Officer of Pantera Capital.
“FunFair has built the first production-ready state channels, powering incredibly quick games without compromising on provable security. They’re leagues ahead of other efforts. Jez is everything you could want in a project lead, and I believe FunFair will be an invaluable addition to the ecosystem,” said Charles Noyes, Analyst, Pantera Capital.
“Funfair, the team and the technology, were very impressive. Gaming is a major vertical set for disruption by smart contract technology and Funfair are by far the furthest ahead in terms of functionality and playability.”
George McDonough, CEO of Kryptonite1.
“Jez and the FunFair team are fantastic. I’ve known Jez since 2013, and it’s been a privilege to work with his team defining the token mechanics and creating the ultra-efficient, token sale contract. I’m looking forward to the next phase for FunFair!” said Peter Vessenes, Managing Director of New Alchemy.
“I’m excited to see an experienced entrepreneur like Jez San bring Blockchain technology to gambling. Gambling is an obvious use case for Blockchain tech, but hasn’t yet been implemented in a user-friendly way – I’m looking forward to seeing FunFair change that,” noted Ari Paul, Founder, Block Tower Capital
A model for future token sales
Founders Jez San, Jeremy Longley and Oliver Hopton have a proven track record of over 40 years creating innovative interactive entertainment products and have sold millions of games in the process. The team went public with their plans in early June, publishing commercial and technical white papers, news of its Token Presale and an early platform prototype with casino games playable on an Ethereum test network, using FunFair’s unique Fate Channels.
FunFair’s Token Presale took place against the backdrop of recent Initial Coin Offerings (ICOs), which have placed enormous strain on the blockchain, causing global disruption and shutting out potential investors. FunFair delivered an orderly sale with no blockchain disruption and no fraudulent interference thanks to a number of ICO innovations:
– FunFair was the first to use the Ethereum Name System (ENS) in a Token Sale, directing people to ‘funfund.eth’, in addition to providing a hexadecimal Ethereum address. This resulted in a more secure investment channel, reducing opportunity for fraudulent activity.
– New Alchemy, the advisers and managers of the FunFair Token Presale were responsible for the gas efficient, Multi-Mint Technology that enabled FunFair to accept not only Ether, but also Bitcoin, ZCash, and selected ERC20 tokens.
– FunFair is implementing a two-phase token event strategy, including a limited Phase 1 Presale enabling early adopters and investors to participate, followed by a larger Phase 2 event due later in the year.
– Combination of VIP and community outreach maximized both volume of participants and total USD raised, with over 1,500 transactions to the smart contract, evidence of the broad participation base sought by the team.
– Soft cap and further 4-hour sale period enabled all investors to participate within the short time window.
Read more about FunFair’s PreSale in this medium post by Ethereum Foundation developer Nick Johnson and advisor to FunFair “Token Sales Done Better: FunFair”.
The FUN token has already been listed on one cryptocurrency exchange including Bittrex and EtherDelta, helping to raise awareness of the project and determine a fair market value ahead of the Phase 2 Token Event in September.
According to FunFair’s roadmap, its development team will now focus on more advanced iterations of its proprietary Fate Channel technology, a larger suite of games including Roulette and Blackjack, and an Alpha release of the platform before the year’s end.
About New Alchemy
New Alchemy is the leading blockchain consulting and investment group with recognized experts and years of cryptocurrency and commerce experience. Our team blends unparalleled blockchain skill with practical business know-how to give our clients leading products and services. Contact us today at email@example.com, or for more information at https://newalchemy.io/.
About FUN Tokens
The FUN token powers every aspect of FunFair’s Ethereum-based casino platform and protocol. Players will bet using FUN, developers and affiliates will be rewarded for their participation in FUN, and operators and licencees will pay players out using FUN. FUN will also power the smart contracts that run the platform, including FunFair’s unique new Random Number Generator and Fate Channel services.
FunFair is the world’s fastest Ethereum casino platform. It’s also the first blockchain platform and protocol to make online casino games fun, fast, and fair. The company’s combined 40 years of experience building gaming and casino software means players benefit from beautiful, intuitive games that have bigger payouts and are always provably fair. Using its first-of-kind Fate Channel technology and Ethereum smart contracts, FunFair offers the ultimate casino experience – complete transparency, astonishing efficiency, and unrivalled game play. FunFair is a developer of the platform, protocol and games. The company licenses these games to operators and does not operate the games directly. Founded in 2017 by Jez San, Jeremy Longley and Oliver Hopton, FunFair is headquartered in Singapore with offices in London, Isle of Man and Malta.
For more information, visit www.funfair.io,
Empower yourself. Learn and discover. Have fun. Empower yourself by learning more about FunFair.io – an online games technology and development company. Discover how this company is revolutionizing the online gaming industry. Get involved in the upcoming FunFair ICO (or token creation event). Have FUN!
What is FunFair.io creating?
Bankless. Competitive. Cheaper. Cost-effective. Easy. Decentralized. Disruptive. Fast. Fair. Flexible. Friendly. Fun. Global. Innovative. Quality. Safe. Savings. Seamless. Trustless. All words that describe the online gaming platform and games that are being developed by FunFair.io. This browser-based casino platform, the fastest of its kind on the Ethereum network, will enable next generation smart blockchain gaming on a global scale.
Ethereum Smart Contracts and DApps – No Private Servers
The decentralized FunFair gaming platform makes it possible to create server-less, real-time casino games. This is a result of the innovative utilization of Ethereum smart contracts and DApps (decentralized applications).
Games run entirely within smart contracts. This makes bankless and trustless transactions possible. In addition, the smart contracts and DApps share responsibility on a level that makes seamless online gaming possible. They are asynchronous. They do not operate at fixed time intervals.
The aim is to deliver a fast, flexible and fun gaming experience where it is not required of the player to be concerned with details.
HMTL5 and WebGL Standards – No Flash Required
Games on the FunFair platform can run on any HTML5 enabled browser that is WebGL (Web Graphics Library) compatible. Unlike with most other games, no Flash is required to render 2D and 3D graphics. This makes it possible to play real-time casino games of the highest quality on the widest set of devices, including mobile devices.
It is not difficult to imagine the economies of scale this will generate. Combine this with the low costs associated with a decentralized platform of this nature – no hosting fees, just gas fees. Bets placed via this Ethereum-based technology platform is ten times cheaper per bet than bets placed elsewhere.
This will enable the passing on of savings to players in the form of higher payouts.
Random Number Generators – Provably Fair
Private secret servers in black box code make it extremely difficult to prove the fairness of outputs. This leaves the door wide open to abuse.
FunFair addresses the problem with the use of innovative, in-house developed random number generators (“Fate Channels”) and smart contracts. This makes smart blockchain gaming provably fair – something that brings much needed fairness and transparency to the table. You get to play real-time casino games like never before!
There is no doubt that this brings another disruptive, game changing aspect to the table.
Fun Games – No More Boring “Pick a Number” Blockchain Games
FunFair.io intends to change the status quo when it comes to boring “pick a number” blockchain games that are plaguing the industry.
The platform they are developing will support multi-state games (e.g. Blackjack) as well as games where states exist between individual rounds (e.g. Craps). In addition, the 3D games they build in HTML5 boast high quality 3D graphics. It makes it fun to play casino games!
The best part is that they have already made substantial progress in developing proof of concept blockchain games such as the ones shown in the video below. These casino games are running on test blockchains and are not live yet. However, it is clear to see that progress is being made. Scroll down on this page to see a road map of what they have planned.
Take the games for a spin here!
Developer Friendly – Open Architecture
The open architecture of the FunFair platform makes it extremely developer friendly. It keeps game developers happy. The results are already showing in the progress made this far – the only platform up-to-date that offers “instant, cost-effective real-money gaming to players and developers” (Funfair.io Commercial White Paper).
Operator Friendly – Live in 2 Clicks
The platform is also extremely operator friendly. It will take 2 clicks to publish a full casino suite.
Furthermore, FunFair license holders – those who hold FUN tokens – will have the opportunity to host casinos under their own private labels. A marketplace will be available where they can select the games of their choice, including the ability to select standard or VIP rooms. They will also have the ability to choose their own in-house bonuses for players and more.
When is the FunFair ICO?
The FunFair ICO or token creation event will kick off on June 22, 2017 at 1400 GMT (or shortly afterwards). FUN tokens are the ‘fuel’ required to power all aspects of the FUN platform – it comes with perks and bragging rights!
IMPORTANT: Don’t confuse FUN with FUNCoin (FUNC).
You don’t want to miss out on this event, since it will be the ideal opportunity to acquire FUN tokens at ICO prices. You also get to support the development of a next generation online gaming platform by making a contribution during the FunFair ICO.
In addition, you will be able to use the FUN tokens to play games on the FUN platform, sell it at a potential profit or hold it in order to participate as an affiliate or licensee in the future (e.g. host your own private label casino).
Get more information pertaining to the FunFair ICO or token creation event here.
The FunFair Team – Proven Track Record – 40 Years+ Industry Experience
The founding members, including Jez San (Founder, CEO), have a proven track record of more than 40 years in the gaming industry. They know how to create high quality, fun, interactive, easy to play games that sell well. The core team consists of more than ten full-time developers. Learn more about the team here.
We’ve barely scratched the surface here. Do your own due diligence. Be the champion of your own destiny. Experience smart blockchain gaming like never before.
Crowdsale FAQs: http://www.funfair.io/crowdsale
Token Event FAQ: https://www.funfair.io/token-event/
Commerical Whitepaper: https://www.funfair.io/wp-content/uploads/2017/06/FunFair-Commercial-White-Paper.pdf
Technical Whitepaper: https://www.funfair.io/wp-content/uploads/2017/06/FunFair-Technical-White-Paper.pdf
Promo Reel: https://www.youtube.com/watch?v=Gb3RrTy40yI
Working Demo: https://showcase.funfair.io/