FunFair Technologies network sees rapid growth

Updated May 20, 2020 | Published May 20, 2020
[7 mins read]
According to stats site funstats.xyz, the FunFair Technologies network is seeing exponential growth in terms of players and amount wagered, tying in closely with recent platform updates to improve the casino experience.

FunFair Technologies has been one of the true pioneers of blockchain gaming technology for the last few years. The company has continued to push the bar from an ambitious white paper and accompanying ICO, becoming one of the first live, functioning examples of state channel technology and a fully fledged use case of the Ethereum network.

Its rise to its date may not have been as fast as some had hoped, but then what has been in blockchain technology. However, FunFair has massively increased its output in 2020, delivering numerous updates to take its product from functioning to first class. Its partner casinos, CasinoFair, CasinoFair Japan, KingTiger.io and Crypto Casino, have reaped the benefits from FunFair's tech push, along with its player base.

FUNFAIR TECHNOLOGIES & TRANSPARENCY

A key tenet of FunFair Technologies' white paper was transparency. To date, they've stood by this and delivered a premium blockchain casino experience that boasts transparency every throughout. FunFair players know that what they see is what they get. They can trace gaming events on the Ethereum blockchain. FunFair even points them in that direction, so it's clear they're not hiding anything.

Transparency, complemented by its Guaranteed Fair technology is how FunFair believes it can change the gaming industry for the better. No longer should players be screwed over by bad acting casinos. Players should know their wagers against the house are on a level playing field with potential winnings always available. While custody of funds should always remain with the owner, not the casino.

Another example of how FunFair Technologies delivers value to its casino players is through its engagement with the community. As a platform that formed through an ICO, it knows it owes truth and transparency to its FUN token holders. But that doesn't mean it's always on the company to provide the data. And that's where funstats.xyz comes in.

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FUNSTATS.XYZ

Funstats.xyz is a community developed site that tracks and traces every FUN and ETHER transaction. Whether it's CasinoFair or Crypto Casino, players and FUN hodlers alike, of which there are over 70,000, can check in on their investment in real-time. Developed by ‘Oxidizer', a well-respected member of the FunFair Technologies community, funstats has become a key tool for players to track the platforms success. And those that have been following it lately will have seen some very encouraging results.

Network

At time of writing, funstats is tracking the four separate FunFair-powered casinos. These are flagship brand CasinoFair and its Japanese localised site, CasinoFair-JP, as well as third-party managed brands, Crypto Casino and KingTiger.io.

So, what are the headline figures? Between them they've produced more than 1.5bn FUN in wagering for the FunFair network, the equivalent of $6,000,000 at publishing. Of this revenue, the FunFair network's profit sits at 26,270,000 FUN. Funstats goes further in-depth to monitor 24 hour, 30 day and daily mean statistics for those figures, as well as number of sessions, network games, network players and network singe.

FunFair Technologies' singe – the proportion of gaming losses that are deducted after every session – has the goal of driving price pressure on the FUN token through diminishing supply. The fact that this particular data point is monitored on funstats shows the second layer of the FunFair gaming environment. Not only do players care about winning, but they also want to extract value from a rising cryptocurrency in the long term. Therefore, the current reading of 3.01m of FUN singed will be pleasing to traders, as well as those who just want to be part of a populous gambling community.

Recent success

What stands out most when looking at the recent funstats.xyz figures is the recent boom in engagement on the network. Having gone live in September 2018, the network had roughly 300 registered players six months later. Comparatively, as of the 25th April 2020, FunFair's player count sat at 2,502. And just 25 days later, we've seen a rise of over 800 to 3,366. This rapid growth in the last month has come on the back of various FunFair platform improvements which we'll touch on later. But, it's fair to say they've done their job.

This pattern has corresponded to exponential upticks in game sessions and rounds. We can reasonably deduce that players are engaging through games rather than just sign-up offers, for example. So, for those monitoring FunFair Technologies from a trading standpoint as opposed to a gaming-first focus, this will be music to their ears as they see network singe keep on its upward trend.

Games

FunFair Technologies has kept up its focus on game development in the past few quarters. Having nailed down a quality core portfolio, they've started to deliver unique titles and crypto favourites to its platform. Games such as The Getaways have gone onto become big hits with players with their video game inspiration. With this they provide a quality complement to the usual casino classics.

Fortunately, funstats.xyz allows us to track these games in-depth. We can see performance in terms of wagering, number of sessions, total rounds and crucial to those big crypto wins, return to player. Similarly, you can break these down into a time period and by individual casino.

So, what can we see? Well, Baccarat and Blackjack VIP stand at the top of the wagering charts with over 270m in FUN taken. Fun Dice comes in just behind and shows that crypto titles are proving popular amongst more traditional genres. In fact, Fun Dice tops the total sessions and rounds played. This shows that quickfire, instant win games have a value for casinos, crypto or not.

How to win at FunFair Technologies casinos?

And I'm guessing you want to know what games you should play to win the most crypto? The FunFair Technologies network currently has Keno Kong with an RTP of 1.173, which means across CasinoFair, KingTiger.io and Crypto Casino, players have the edge over the house and a significant one at that. Alice Cooper: School's Out has had various teething issues and comes in second with an RTP of 1.013.

The games you may want to avoid? FunFair Technologies' network winner is its first scratchcard based on its Fate of Thrones slot, with an RTP of 0.737, with recent minesweeper game The Great Cheese Heist just above on 0.83.

Players

Funstats doesn't just show you FunFair Technologies casino stats and facts. It also scrapes the data from the blockchain for player data. Don't worry, your identity can't be seen unless you've shared your public key. Saying that, we've had a lot of fun trawling through the crypto whales and FUN high rollers. Five players have contributed over 90,000,000 FUN in wagering, with one even hitting 150,000,000 FUN.

Others have been less keen to bet big but have been consistent visitors to FunFair Technologies' casino partners. The top playing customer has enacted 815 game sessions, losing almost two million FUN in the process. Potential casino partners would see this player as a prime example of their core player with an RTP of 0.956. On the other hand, one player has lucked out across 16 games sessions with an RTP of 20.969, winning 640,000 FUN from 31,850 FUN wagered.

PLATFORM

We've seen the figures and noted the growth FunFair has seen in recent weeks but what's changed in 2020? FunFair Technologies has gone from picking up a handful players a week to pulling in hundreds but why? Well, tt has gone about destroying all onboarding friction to make the platform as user-friendly as possible. It has done this by various means, all with significant success.

Blockchain for the masses

Firstly, it launched its own wallet which means you can play at any FunFair casino on any device with just one registration. This enhanced UI has made accessing games easier and improved the UX no end.

It then cut exchanges out of the picture with its MoonPay partnership. No longer do you need to leave the site to buy FUN as you can buy it for cash on-site. No more middle men and much less friction. Simultaneously, it removed the paying of awkward gas fees in Ether (ETH) by putting them onto the house. The FunFair Technologies network now assumes all ETH fees to open game sessions, giving players more value.

FunFair Technologies has also ramped up the maximum payout of its instant win and slots games to unprecedented levels. No longer do you need to keep re-opening game sessions to sink the house on a lucky streak. Instead, you can now win millions in FUN on just one slot stake. To complement this, partners such as CasinoFair have also introduced more generous bonus campaigns and promotions, such as its Moon Racer series.

TRANSPARENCY

It's clear that FunFair Technologies is a unique project. To have sites such as funstats.xyz tracking its every move is new to a private sector like casino gaming. Some more traditional operators may not like how this would play out for them, but FunFair use it as a tool for good. It gives players more peace of mind. It shows the community that the network is going somewhere. And from a B2B standpoint, it could well appeal to potential new partners who want a slice of the crypto action.

Whether it'll catch on in such depth across other blockchain casinos remains to be seen, but we like what we see. FunFair Technologies continues to go from strength to strength with its recent platform developments, and funstats.xyz does a fantastic job in showing us.

Written by Samwise
It is said that CGN’s live-in editor Sam was once a fan of the Lord of the Rings saga, but with the growing popularity of the ‘Samwise’ nickname with virtually no resemblance to the character (OK, maybe the feet), his support for their cause has started to wane. Keeping things ticking over at CGN HQ, you’ll find our resident hobbit making home brew and raving about Taco Bell.
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FunFair Technologies network sees rapid growth
Updated May 20, 2020 | Published May 20, 2020

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