Growth in the Blockchain-based Gaming Industry Boosted FunFair Prices

Many DApps, decentralized applications, and games based on blockchain are designed with casino-style features and role-playing games that allow players to use cryptocurrencies to gamble.

FunFair is essentially a blockchain-based, turnkey, white-label casino and the platform aims to provide services with zero setup fees and no monthly minimums.

The FUN token is the fuel behind every feature on the FunFair platform. Players use the platform to place bets. Moreover, winning payouts get collected in the same way. These tokens compensate game developers, pay commissions and services to affiliates outside and inside the game.

Since January 28, the token has risen 183%. The number of users, the amount staked on the platform, and the on-chain transfer volume support the movement of growth.

It is worth noting that FunFair as such is not a casino. Therefore you only have a trial version (sample) on your website. However, they provide links to two actual use cases that work with their technology.

In June 2017, the ICO raised USD 26 million for 21.3% of all FUN tokens. Founders and advisers kept 14.4%, while the FunFair Foundation retained the remaining 64.3%. Since then, the foundation decided to burn more than 6 billion tokens, reducing the maximum supply to 11 billion.

The team aims to offer transparency to avoid cheating from both casino operators and players. FunFair can eliminate the required trusted third party by using peer-to-peer technology and smart contracts.

The platform hosts classic games like virtual slots and Blackjack and FanFair Technologies and third parties are actively developing new games. The system is entirely browser-based that uses the HTML5 and WebGL standards to offer a smooth mobile experience.

Check-out Financebrokerage’s Comprehensive Review on Fundiza

Multiplayer games and layer two scaling

In October 2020, FunFair formed a new business unit to explore multiplayer games. A distribution agreement took place with EveryMatrix’s remote gaming server, which 600 casino brands worldwide use. Shamrock Treasures was the first game released with this technology and is currently available to third parties and approved by regulators.

The funFair has also integrated layer two solutions to reduce gas fees, and its FunFair Wallet is now xDAI compliant. Besides, the L2 option will serve as the foundation for the upcoming multiplayer game release.

Daily active users skyrocket

According to the FunFair blog, participation in gambling has increased by 255% compared to the previous quarter. The number of players grew by 140%.

Additionally, various payment options like Uniswap, Changelly, and Moonpay have been integrated into the FunFair Wallet.