FunFair - The world's fastest Ethereum casino platform | ICO 22/06/2017



  • About FunFair

    FunFair is a decentralised gaming platform powered by Ethereum smart contracts. Thanks to our breakthrough technology, it is the first platform to solve the big challenges that have made other blockchain casinos unplayable. Our vision is a limitless universe of transparent, secure casinos that can be easily created by anyone, anywhere, where games are fun, fast and fair. That’s why we’re called FunFair.


    FunFair - Smart Casinos

    Create your own low-cost blockchain casino quickly and reap the rewards
    of our pioneering technology. Using the Ethereum blockchain, smart
    contracts and our own never-before-seen ‘Fate Channel’ solution, we can
    offer the ultimate casino experience – complete transparency,
    astonishing efficiency and unrivaled user experiences.


    FunFair - Fast & FairGames



    Using decentralised, open-source technology and Ethereum smart contracts, we can eliminate any doubts about game fairness. But transparency isn’t enough. Users should never have to wait for their next game, nor should anyone have to shoulder the burden of blockchain transaction fees for each spin of the slot, or hand of blackjack. Our ground-breaking approach to Random Number Generation and ‘Fate Channels’ delivers the seamless experience that 21st century gamers demand.


    FunFair - PureEntertainment



    Players are at the centre of everything we do, which means fairness, speed and better payouts are just the start. Our combined 40 years of experience building gaming and casino software means we will never compromise on user experience. Our great looking, intuitive games come preloaded with the platform, showing future FunFair developers what’s possible. And so you know we mean business when it comes to delivering a product, you’ll be able to test some of our games yourself before the token creation event begins.



    FunFair InstantRewards

    Funfair’s token, FUN, is the currency of this new ecosystem. It is the fundamental method of interaction with FunFair smart contracts, ensuring every participant is rewarded for their contribution. Users will buy FUN tokens as the chips in FunFair’s online casinos. Game developers will get paid in FUN. Casino licensees will finance their operation solely with FUN, and affiliates who bring in new players will be paid in FUN. Platform service fees such as Random Number Generation will be paid in FUN, and then burnt. Participate in our upcoming token creation event and you’ll join us on the FunFair ride of your life, as we revolutionise the world of online gaming.



    FunFair Roadmap




    FunFair Token in Brief

    Our token FUN will be used for all platform actions, including betting, lending, paying out players and compensating stakeholders. FUN will only be created during a single event commencing June 22, 2017 at 14:00 UTC. FUN should become more valuable and useful over time as additional FunFair developers and operators launch casinos and new games

    • Start Date: June 22, 2017 (UTC 2017-06-22T14:00:00Z) 

    • End Date: July 7, 2017 (UTC 2017-07-07T14:00:00Z) 

    • Cap: 5 Billion Soft, 12.5 Billion Hard. 

    • Price: 100 FUN/USD 

    • Founder Stake: 37.5% 

    • Advisor Stake: 2.5% 

    • Bonus Period: Up to 150 FUN/USD


    FunFair Games Details:

    Figure 1: 3D Roulette - one of the Many Games Built on the FunFair Platform

    Combined, FunFair’s founders have a proven track record of over 40 years’ creating innovative interactive
    entertainment products and have sold millions of games in the process. We know what it takes to
    make a good casino game great and now we’ve built the world’s first blockchain-based platform that is
    capable of meeting the demands of a high-quality online gaming experience.
    Our core team comprises more than ten full-time developers and we have already completed the first
    blockchain-based 3D games using the FunFair platform in HTML5. These initial games stand as a
    fully-playable proof of concept, demonstrating the advanced capabilities of FunFair’s platform and
    serving as inspiration in order to kickstart the ecosystem ofoperators and developers around the world.
    Games built on the FunFair platform run directly in the browser on desktop and mobile devices without
    requiring an app download, completely eliminating one of the major pain-points of player onboarding.
    Here are sample images of some games under construction (we have six in our launch suite). You can
    view more images and videos of these games in action on the website. They will be offered as playable
    prototypes prior to the token event to demonstrate the technologies and capabilities of the platform,
    including the first generation Fate Channel technology will be playable in at least one of the games



    Operators: Launch A Casino in 2 Clicks

    We’re not planning on launching just one online gaming casino — we have built a platform to effortlessly
    launch thousands of online casinos, hosted by operators and organizations of all sizes, anywhere in the
    world.
    Operators and developers who license the FunFair platform have the ability to create fully-customized
    player experiences for traditional games of chance such as slots, blackjack, roulette and baccarat. We
    want to enable anyone who wishes to build, publish, host and play them — and for all parties to be
    fully assured that every game is fair and trustworthy.
    Unlike any existing online gaming platforms or services, a FunFair license allows an operator to easily
    set up and host their own casino under a private label. Individuals or organizations will be able to
    select games from a marketplace and offer standard or VIP rooms with customized in-house bonuses
    for their players.
    When the operator is ready, the platform enables them to publish a full casino suite and go live in just
    two clicks.

    1.Developer Friendly

    FunFair’s platform is designed by game developers, with game developers in mind. The games already
    built demonstrate the superiority of the FunFair platform. No other platform has to date been able to
    offer instant, cost-effective real-money gaming to players and developers.

    2. ENS-Ready

    FunFair investors have already acquired several gaming-related .eth domains, including blackjack.eth,
    for FunFair operators’ and affiliates’ exclusive use. Full details on how to access these domains will be
    published in Q3 2017.


    Instant, Frictionless Gaming

    To date, developers have not been able to create blockchain-based games that are worth playing.
    Nobody wants to sit for a minute (or longer) while the dice roll waits for multiple blocks to be mined
    before it can report the result back to the player. Yet this is the state of blockchain gaming today. None
    of our competitors have addressed this shortcoming — not because they don’t recognize the issue, but
    because it’s a very complex problem that nobody has solved — until now. FunFair’s patent-pending
    technology does the hard work of making truly instant blockchain games available to everyone. This is
    what will win the market.

    1.Signup and KYC

    Self-sovereign identity technology from industry leaders including Consensys Civic and New Alchemy
    is coming to market later this year. Where possible we are planning to support these technologies to
    allow safe, private single-click sign-ups that take less than a second. We believe that every second of
    customer time saved during sign-up will double participation1.

    2.Putting Social First

    The FunFair platform has been designed from the ground up to encourage viral uptake. All casino
    games are designed for easy invites and sharing so that users can create virtual groups and play with
    their friends. Additionally, post- launch, functionality will be integrated which allows operators to
    grant affiliate revenue sharing to social players.

    3.HTML Only

    We’ve created a browser-based online gaming platform that utilizes the HTML5 and WebGL standards
    on both mobile devices and desktop computers to provide the rich 3D graphics to deliver a highly
    polished fast and responsive user experience that players of app-based games are used to
    .



    10x Cheaper Betting

    The sluggishness of legacy blockchain-based games isn’t their only limitation: Even if players were
    patient enough to play fewer than 30 bets per hour, they wouldn’t be prepared to pay the price. Not
    only can high transaction costs wipe out winnings for players, they can also severely impact earnings
    for operators.

     1.Current Competition is Unsustainable

    We have been actively tracking gas costs across multiple Ethereum blockchain-based casinos presently
    operating. Transaction costs to play a single hand of blackjack can exceed $1.00 and dice games can
    exceed $.75 per bet on average.
    A typical preferred individual bet stake is in the $1-$10 range — this is how the majority of real-money
    bets are staked globally. At these sizes, transactions fees can overwhelm the size of the bet.
    Even when a player wishes to make larger bets in the $20 range, the transaction costs can still
    overwhelm the house edge — in total an average 12% cost between house edge and fees. For this
    reason, only players willing to stake amounts greater than $50 generally play these games. Lowering
    gas costs is only a temporary solution because as ETH prices rise, fee costs will make bets such as this
    uneconomical once more.
    As part of our market research we contacted Encore Las Vegas, a high-end casino operator, to determine
    what percentage of their machines are used for high dollar bets. Encore’s representatives estimated
    that there were “definitely five” $50+ slots out of 1,000 machines in the entire casino (as of June 6,
    2017.) It is apparent to us that high-stake bets in excess of $50 will not become commonplace in
    typical use-case situations.




    2.Fate Channels: A Long-Term Solution



    Online games should be cost-effective, affording repeat gameplay without adding unsustainable
    transaction costs. Because ETH prices may continue to rise, pushing up gas costs in the process,
    we needed to devise a solution that provides bets at less than 1/100th of the current industry cost.
    Typical competitor costs today can exceed 10% per bet for players — our goal is 0.1%.
    We believe that we have created a long-term solution for transaction cost problems with a unique
    patent-pending implementation of State Channel technology, developed specifically for online gaming.
    We call this technology Fate Channels.
    A Fate Channel is a State Channel opened for the duration of a gaming session, supporting custom
    gaming messages between the FunFair client and server. The only transactions on the blockchain occur
    at the beginning and end of the gaming session. Because a gaming session is instant and can include
    hundreds of bets, our costs are an order of magnitude lower than our competitors.
    A complete description of Fate Channels, our Random Number Generation Scheme and the Technology
    Roadmap can be downloaded in the White Paper section at funfair.io.

    Serverless Operations

    FunFair has been engineered to be as attractive to online gaming operators as it is to players, eliminating
    server racks and stifling overhead costs of the traditional online gaming systems (that can run into
    millions of dollars to deploy). Our existing technology allows licensees much lower overhead costs for
    running a casino.
    By the time FunFair launches its v4 Fate Channel implementation the system will be entirely serverless.
    A completely serverless, employeeless peer-to-peer casino is vastly more resilient and significantly
    cheaper to operate than one which must deal with banking institutions, data center hosting costs and payroll management. We firmly believe our technology will be transformative for the online gaming industry.

    Links:

    Website

    Team

    White Paper Commercial

    White Paper Technical

    Blog

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