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 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 contributors to participate, followed by a larger Phase 2 event due later in the year.
- Soft cap and further 4-hour sale period enabled all contributors 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”.
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.