First off, a big thank you to those that contributed early or attended our AMA. We have run a few of these, but I believe this is the first time it went on much longer than the allotted hour.
To provide a bit more structure, and some grammar edits, we have categorised all the questions into five sections to make for easier reading.
Those sections being:
Some questions didn’t naturally fit within one or the other, so if you asked a question and can’t find the response, have a look around in the other areas below.
Q1: A lot of tokens are starting to go to a buyback solution instead of burn/singe, is FunFair considering this?
Lloyd: We’re not considering it at the moment as the legal situation is unclear relating to securities, that’s not to say we wouldn’t consider it if it was clearer though.
Q2: Are there any new initiatives to consciously engage the community? I’m super excited about experimenting with game ideas openly.
Oliver: The short answer is yes. In fact, there was a discussion about this internally late last year and actually drove the decision-making process in making the L2 games open and collaborative.
However, we want to discuss more with the community in all areas and are working on a plan to get more info to our users about what we are delivering, be that better release notes or a specific detailed update each week.
Q3: What’s the current headcount of FF (all divisions/subs)?
Tom: About 30 in total.
Q4: I have been a FunFair supporter and token holder since 2017. Could you shed some light on the commercial growth being projected and what is in the pipeline to make funfair games available to masses?
Fred: We have been working on many improvements to the platform, and all of the work has been done to improve the usability of crypto for larger audiences that may be less knowledgeable about crypto. There’s still work to be done, but as we mature our product, we believe that we can increase our potential market.
Q5: What needs to happen for FUN to be on Coinbase? Or in other words, as I’m sure FunFair would love to be on Coinbase— has there been any communication between FunFair and Coinbase?
Lloyd: We have had numerous conversations with Coinbase in the USA and a number of other regulated exchanges in territories where online gambling is not explicitly regulated (like Liquid in Japan for example), and they have not yet approved a FUN as its utility is for gambling. As the regulatory landscape of online gambling changes, we hope their position will change as well.
Q6: What’s your vision for Funfair?
Tom: “A world of fair decentralised gaming” That has been the vision all along. At the core of that, I believe is what Jez always said. Solve problems through technology.
Q7: How many years of operating capital do FunFair have left?
Jeremy: In our update yesterday we said it was 6 years – looks like it’s a little higher today 🙂
Q8: Are there any plans of branching out the project to other parts of the industry or other industries? I know that CSC has had difficulties over the past year and was curious if there were any holes FF could fill.
Jeremy: Well – during the crypto winter, we were pretty tightly focussed on our core product. Thankfully now we’re back in a position to be more open-minded. We have had several conversations in many areas – obviously, most of these are commercially sensitive. We certainly don’t have anything close to being able to talk about.
But at least we can broaden our horizons if we want to. Including being able to fully fund our internal research products while also maintaining our core platform!
Q9: How are you guys coping under the current conditions, work-wise and personal.
Fred: Yes, we are all as well as we can be. We have been cautious in ensuring all the team is well and sane and have been used to remote working for a long time. So everyone can deal with it atm. Also, I make an effort to see a smile from everyone everyday!
Oliver: It’s not too bad. We always did a fair bit of remote working anyway. I know some people are keen to get back into the office, though.
Q10: Will Funfair be adding themselves to the Coinbase asset hub (so people can read about FUN even if not trade it).Realise this is a recent development, but worth doing IMO!
Tom: Hey, I didn’t know about this – will check it out! (and I don’t see any reason we wouldn’t do it). Just been added to the teams’ to-do list, will be given a delivery date/action plan in tomorrow’s meeting.
Q11: What KPI’s does the team look at when measuring success for the company? The short term 12-24 mo and long term 24+?
Jez: Long term is easier to answer. Cash flow positive, lots of users, and multiple casinos using the tech. Short term, it’s going to be growing the users, improving the tech to make it relevant, and finding the niche that crypto game players want to play.
Medium-term we are considering and will investigate other uses for the fun token. We used to have KPI milestones to reach, but those went out the window when the gas price became prohibitively expensive, which is why L2 is so important. Hence, we stop having economic disincentives to growing the number of users.
Tom: That depends on the business unit; for example, I want to get the wallet being used by 10 developers this quarter. FunFair games are focused on launching on operators and games being delivered. And the platform has a retention/churn and traffic KPIs.
Q12: This quarter, Oli built a tool for stats. Are there any plans to mimic the individual player statistics from funstats? Or making the tool more official? Every time I have to go through chat history to find the link. Will be nice to highlight the uptick of users as gas problems are mitigated.
Tom: We are looking for a place to host the tool separately, as you are correct, it is a bit of a mouthful, to say the least. For anyone interested it is found here –
I am likely to have this hosted on the FunFair site, which we are looking to rebuild in the coming weeks to serve users better in looking to understand what FunFair technologies delivers.
Q13: Are there any intentions to use the streaming platform Twitch.TV as part of a marketing campaign push to acquire new players? Either through sponsoring existing streamers or by hosting a CasinoFair stream?
Tom: We looked at this last year, and there are two options with twitch. Buying someone else’s audience or building your own. The last quote I had from a twitch streamer went almost 6 figures high, which is why we felt that starting smaller with our own streams in discord was the best way to get to grips with streaming.
There is a plan to expand this onto twitch, but we know that you need regular streaming for this to gather an audience. So the answer is yes, we have considered it, and we are starting small and looking to expand as we get to grips with the services and will move to their platform in time.
Q14: If not twitch for now, what other strategies are there to make FunFair awareness reach more people?
Tom: Twitch is on the plan, but we are taking it slow (not wanting to spend almost 6 figures on a known streamer). That said, marketing this quarter will be focused on pushing the games studio via PR and other industry formats. The consistent retention strategies for the platform and engaging with developer communities for the wallet. However keep an eye out in Q1 for new funfair technologies assets, sites, and perhaps a promo or two!
Q15: Are you guys still confident that ETH 2.0 – whenever it actually rolls out-could potentially catapult FUN forward—from an efficiency standpoint?
Tom: If ETH 2.0 delivers on its many promises, we are confident the platform will benefit from the efficiencies we can gain. Of course, we are following the developments very closely here.
Jez: L2 will happen much faster than Ethereum 2. We’re optimistic (no pun intended) that it’ll provide the speed and gas cost reduction that we need and other benefits like enabling multiplayer games and progressive jackpots etc. As for Eth2 confidence, well, many people are confident that Eth2 is happening, albeit a long-term option. There’s over 2.5m eth tied up in the eth2 staking contract.
Q16: When whitepaper v3? Feels like devs/whitelabels aren’t the focus. Whitelabel can’t advertise with this gas, tokenomics do need a revamp.
Tom: I want to focus on updating a bunch of diagrams and easy to digest information so anyone can pick up and understand the project. We absolutely have not lost focus on the whitelabels – however, it is tough to sell a platform affected by gas prices as we have been. Lloyd literally had a conversation yesterday with someone from South Africa who was interested in the platform. But “for when gas prices are acceptable.”
Q19: I understand poker isn’t on the roadmap, but can you please explain why?
Fred: Poker is a very different proposition than Casino Slots, Instants and some of the MP games we are building. We have decided to not pursue Poker for now, and we will review as and when appropriate. Keep also in mind that many of us have worked in online Poker, so it’s not unknown to us at all.
Q20: With the partnership with EveryMatrix games and Shamrock Treasures coming to online and regular casinos, will the FF logo be on display for this/marketing?
Lloyd: If it’s a multiplayer game it will be the FunFair Games logo if it’s a single-player game it will be the FunFair Technologies logo. Shamrock Treasures is released on the FunFair Technologies brand.
Q21: You mention chat and social features being enabled for multiplayer games. Will these also be enabled for single-player games/trollbox for people to communicate when playing a slot for example?
Fred: As we mentioned in our Q1 update, we are adding these features to our L2 solutions for now, but we always looked at social features for our Casino platforms and will add them as they make sense
Q22: What benefit do these partnerships have to FUN token holders? The EveryMatrix one, for example.
Fred: We’ve outlined in the past the EveryMatrix deal enables us to release games (multi and single-player) into the traditional online casino market and monetise those assets. At the same time, we work on the FunFair platform to support a wider range of games.
So we can monetise our single-player assets and build multiplayer games that we can use on the FunFair platform when it supports them. The token’s benefit is related to improvements to the game portfolio and building stronger and revenue-generating relationships with large operators.
Q23: All multiplayer games are built to allow porting back to the FunFair platform once the technology allows us to function via the FUN token… so multiplayer games won’t be playable by FUN?
Lloyd: They won’t utilise FUN while on the EveryMatrix platform because it’s mainly FIAT distribution. But when we get the games on the FunFair Platform, they will use the FUN token.
Q24: The wallet will be shortly released as a product any app developer can integrate with. They will be able to configure their integration to use whatever ERC-20 tokens they like. The wallet is branded as the FunFair Wallet and contains another FunFair branding. As you would expect, DApp developers will not need to use the FUN token.?
Fred: No, on the first stage we don’t expect that there’s any reason for the Dapp developers to use FUN tokens. But, the goal is to increase our wallet usage and hopefully reach a wider audience of users and DApps. I believe there are many potential avenues for generating revenue from the wallet and adding services for FUN. Having more users on the FunFair wallet also means easier onboarding on to our Casino Platforms.
Q25: How will the FUN token be used within an xDai environment?
Oliver: We’re going to build some standalone games on each L2 mentioned, not part of the current casino platform, starting with one on xDAI. These should be seen very much as experiments, to see what we can do with each L2 that we can’t currently do on Ethereum, or using our Fate Channels technology. The most significant difference is that we’re going to build some multiplayer games.
We have a desire to make these experiments available to all, which means that they need to be free to play, i.e. not require users to pay to enter. They probably won’t pay out FUN to start, but they could well do at some point.
If we decide to commercialise any of our L2 experiments, they will absolutely use the FUN token!
We don’t currently have plans to port the current casino platform to L2, though this could happen depending on our experiments’ outcome.
Q26: How long might those experiments take? Months or years?
Fred: Development has already started on it, so we are trying to get the 1st game out pretty soon. As we do it and learn how these L2 work, we will see the next steps. Also, we already released support for xDAI on the wallet.
Q27: How will I be able to play the xDAI L2 game?
Fred: Once it’s available we’ll let you know where you can access it.
Oliver: You can, of course, play all our casino games and use our wallet on the rinkeby testnet wherever you are based, you can find it at, https://showcase.funfair.io/
Q28: Regarding multiplayer games and the current low numbers of players, have you thought about times where a user would want to join a game and find that there is only, let’s say 1 / 4 ready, how would that impact the multiplayer game?
Jez: Multiplayer games are potentially more popular, so looking at our current number of users, and the high gas costs involved in starting and stopping games, isn’t representative of what it might be when multiplayer games are available, at a very low cost and high speed for opening the closing games.
Oliver: The multiplayer games will be free to play and unrestricted so we’re hoping we can get a decent player base going.