On behalf of all at FunFair, I hope that everyone had as Merry Christmasses and Happy New Years as they could under the circumstances.
2021 has certainly started with a bang, with a significant resurgence of interest in the crypto space in general!
We have come back from the break hitting the ground running, with some longer-term projects very near completion, and our Layer-2 project moving into full production as from the start of the year.
This update will cover our progress over the last quarter and our on-going plans for the four primary areas of our business:
- L2 Solutions: Research into new features (such as multiplayer games) which are enabled by the new variants of this technology alongside the more immediate benefits of faster, cheaper transactions
- Platform: Looking at our work on the acquisition and retention of our players alongside the research on L2 solutions to enhance the platform’s core functionality.
- Games Studio: How we’ve secured a strong foundation for our new business unit to launch its first multiplayer game in the coming months.
- Wallet: How we plan to engage with the developer community and expand the FunFair ecosystem.
Even though we’ve always been around, we’ve made a conscious decision to engage with our community more. We have some exciting journeys ahead in 2021, and hope to be able to share our progress on a more regular and direct basis.
Jeremy Longley, CEO & Founder, FunFair.
Last quarter the team highlighted features they wanted to develop alongside the team’s investigation into L2 solutions. Updates on specific deliverables can be found below.
- Rebuilding affiliates, promotions and referral pages: The development team has rebuilt several areas to improve the user experience when using the platform. This update includes the removal of promotions.casinofair.com and having all areas placed under the same casinofair domain. Thus, the popup pages currently experienced when using any of the casinos will disappear. Further, improved signup and link collection system for affiliates and a new referral program for users. Roll out of this work on the platform begins this week.
- SEO: Over the year, the dev and marketing team has invested a lot of time and effort into improving our SEO, including introducing a blog and regular/consistent content. Last quarter the dev team implemented many best-practice technical changes on the back end. This combined approach resulted in a 678% increase in exposure and a 373% in further clicks across natural search traffic compared to the same period last year for CasinoFair.
- Tag Management: The development team successfully implemented the tag management system, as requested by the marketing team. This new setup allows us to be much smarter with acquisition and retention campaigns. Whilst also providing real-time segmentation of users based on actions taken on site.
- Dormant program: An automated process has been set up over the last quarter to chase down users engaged with the brand/casino but have since not returned to play to entice them back. Multiple messaging, timeframes and landing pages are being tested, and we have now settled into a regular weekly process to ensure we minimise churn of players.
- Wallet Interface: Per the Q4 update and Q3 market investigation, the team was tasked with delivering a self-service interface for developers implementing wallets within their dApps. This interface has now been built and finalised. Allowing developers to brand/design and align the FunFair wallet with their own dApps and implement it with a few code lines.
- Wallet Documentation/additional features: Dovetailed with the new interface is a new set of documentation, sample code and features to deal with token history, exchanges, and requests. Delivering on the Q4 promise of allowing developers to “pick-up and go” when implementing the FunFair wallet.
- Distribution Agreement: The team signed a distribution agreement with EveryMatrix, giving the studio access to over 600 casino brands globally. EveryMatrix agreed to build support for multiplayer games on their platform. This deal enabled the studio to launch both single player and multiplayer games through one platform. Cutting out any red-tape by using EveryMatrix’s technology and licenses, a quick and cost-effective way to achieve distribution.
- Single Player Games: Not requiring any additional platform support, we have moved quickly in the single player game development, hitting all key milestones outside of launching. The team have ported the first game onto the EveryMatrix platform, Shamrock Treasures. This is the Shamrock Riches game which can be experienced on the FunFair platform, but with a new name, user interface and a max win of 6004x. We have tested and certified the first game for the UK, Malta (unregulated EU markets including Germany), the Baltics, Sweden, Denmark, Spain and Colombia – all relevant jurisdictions on offer through the platform. The game will also be available to Curacao operators (where games do not need to be certified), in other markets throughout South America and importantly, Asia. It will be available in over 20 languages to ensure maximum distribution. The game goes live on 19th Jan 2021, and we’re very excited to see how it performs.
- Multiplayer Games: Our multiplayer games roadmap has taken shape throughout Q4, and we have three games in development. Our first, a unique crash game, “Rocketeers, To the Moon!”, is due for release in early Q2. We hope to have the full demo’able version on the platform for operators to play in February, a huge milestone in delivering multiplayer content. There’s more information here, and a sneak peek video of the game. Our second and third releases are a multilevel wheel game and a pinball style game, both innovative and new concepts to the market, more to follow on those in Q1.
Since the Q4 update, we’ve been spending time looking into the available L2 solutions that are live, or nearly live. We investigated a fair number of these and have decided to focus our efforts on these three solutions.
The initial focus will be on xDai, which we’ve added support for in our wallet and back-end services as some of you have noticed from our release notes.
We are a game development company at our core, so we have decided the best way to gain experience with the various L2 platforms is by building one or more games on each. We have decided that we will build games that would be difficult, or impossible for us to build directly on L1 or within the constraints of our Fate Channel technology which is fundamentally a single-player experience.
Our initial focus will be on multiplayer games, incorporating chat and other social features targeting a broader audience than traditional casino games. We also desire to add features we have been unable to deliver in a trustless way on our core platform, such as progressive jackpots.
We will be developing these games differently from our casino platform, with more regular releases, less focus on polish, and more feedback from the community taken into the next iteration.
These games are experiments which may or may not become commercial products. They will be free to play and available to all without any KYC requirements or geographic restrictions.
We have several game ideas lined up, and we look forward to sharing the first of these with you over the coming weeks.
The platform continues to grow since the issues experienced with gas prices midway through last year. Thanks to the focus on existing players, the introduction of progressive jackpots, real-time leaderboards, and retention programs we have seen an increase across all metrics comparing the beginning of Q4 with the start of Q1
- Wagering has increased by 255%
- The number of players has increased by 140%
- The session count has increased by 220%
As provided in the review above, updates to the UI will be apparent as the back end work over the past quarter is released, and more automation is delivered.
In addition to these releases, the dev team will be delivering a widget for the front page to showcase the jackpot total in real-time. Users will immediately identify the amount in the pot on the homepage and encourage them to play within the casino. This has proved popular with our players, with the introduction of the progressive pot alone increasing users by 53%.
Over Q1, work on the platform’s front end will slow with the team turning their attention to the L2 solutions.
The team is excited to see an early multiplayer element and a true community progressive jackpot powered by L2 solutions—both of which we see as game-changing elements to improve the FunFair platform.
While issues such as gas prices still affect the entire ecosystem, the team are very pleased that the work in Q4 investigating these longer-term solutions have formed a plan for 2021. Ensuring we are ready to scale up when the ecosystem and technology allow us, which seems closer than ever.
While new solutions are being delivered, the marketing team will continue to focus on retention of users via the successful and proven marketing strategies of 2020. Notably;
- MoonRacer X and XI: These promotions are consistently evolving as new functionality becomes available, such as real-time leaderboards, avatars, and understanding how players interact with the promotion itself. MoonRacer 9 saw an increase of 378% in wagering during the event compared to prior. MoonRacer X is a departure from the previous MoonRacer and will reward our players for returning to play regularly. These events now run bi-monthly.
- Acquisition campaign: The new tag management system enables a true retargeting approach that has been unavailable to us previously. The team will experiment over the course of the quarter, identifying different strategies, sites and data pools to maximise our cost per acquisition.
- Streaming: Our first live stream was held last year, hosted by community members Raph, JJA and Fabio. While it was the inaugural event for FunFair, it was a great success and will be run quarterly. It provides community members who cannot play due to geo-restrictions the ability to experience and win FUN, whilst simultaneously showcasing the FunFair platform and games. If you want to read up about our last event, you can find more details here.
- SEO Next Steps: The team is very pleased with the progress being made last year. Initially, the FunFair platform was seen as a single page by search engines, and thanks to dev work and content creation, we have a much deeper site being indexed by Google. To continue the exposure and growth, the team has performed analysis on keyword clusters and groups to identify where the best opportunities now lie for CasinoFair to create content to maximise our exposure. A key KPI for the team is to hit 678% growth in exposure again this year.
Marketing is continuing to monitor players and adjust newsletter/social/affiliate and other retention channels in line with performance and will optimise as they have been.
Following our analysis in Q3 and the focus on early-stage projects, the development team has built out our self-service platform for delivery at the end of January.
Having the FunFair wallet in as many users’ hands as possible to expand the FUN ecosystem is our main goal for this project. To achieve this, working with developers for implementation of our wallet is our route to market.
The work delivered by the development team has created a truly customisable experience for developers wanting to make the wallet look and feel native within their own dApps. Our main competitors in this space being Fortmatic, Tor.us and Portis as they are following a similar strategy of a B2B focus.
The FunFair wallet delivers on all key features to achieve parity in what is becoming a competitive market place, such as supporting all mobile browsers, truly non-custodial, exportable, allowing purchasing of tokens in the app, etc. Our new wallet specific site will be released at the end of January, providing a full breakdown.
However, there are three areas that we believe make our wallet stand out from the competition.
- Price: Developers can implement this wallet in their dApps free of charge. To help with adoption, getting the wallet into developers’ hands is key. This initial price point will remove blockers to our goal. Monetisation will follow as the product matures.
- Themeable: The FunFair wallet feels as natural as possible for any developer implementing the wallet. We believe the wallets customisable options are the most advanced in the market and all editable from within the self-service interface.
- Payments: The team has integrated several payment options such as Uniswap, Changelly and MoonPay. Further, unique to our solution, developers can choose what level of global KYC they would like to implement, if any at all. No other wallet in this market offers this feature, and will be implemented into the wallet later this quarter.
This quarter the team will take the wallet to select developers in the market as an open beta, to gather feedback from developers to iterate and improve in preparation for commercial launch.
Marketing has already begun with market position and messaging finalised and an agreement to begin accessing developer communities such as the ones found on Dappradar.
As not a B2C product, we are laser-focused on developer communities and forums to get the word out.
Currently being investigated are best practices to have developers test and trial the wallet within their dApps to move quickly in this space. Incentivisation for developers is also being considered among other marketing opportunities.
Following the teams’ excellent progress in Q4, and with our single-player game going live next week, our focus is now to ensure our multiplayer games’ successful delivery into the online gaming market.
We will continue to work on the slots we have in the roadmap. Still, the immediate priority is to get our first multiplayer game, Rocketeers, To the Moon!, fully developed, sold into the largest operators globally, certified for all key markets and live at the start of Q2 2021. This is the key milestone we have set for ourselves.
We’re releasing content on two brands, FunFair Technologies for our more traditional slot and instant win content, and FunFair Games for our more innovative multiplayer to single outcome content.
The approach we’re taking is important for the positioning of the multiplayer brand, as we’re showcasing FunFair Games as a challenger to the industry. Doing something new and exciting to drive a new type of player that traditional casinos have found difficult to attract and retain.
The release order for the development of our multiplayer games is as below.
- Rocketeers, To The Moon! – Q2 2021
- Multilevel Wheel Game (Name TBC) – Q2 2021
- Pinball Style Game (Name TBC) – Q3 2021
We have several further multiplayer game concepts in the pipeline, all innovative and not realised in the casino space. Once we have delivered on our current priorities, our focus will shift to these new concepts.
All multiplayer games are built to allow porting back to the FunFair platform once the technology allows us to function via the FUN token.
The release order for our single player games on the EveryMatrix platform is as below.
- Shamrock Treasures (Live 19th Jan)
- Cyberhunter 2080 (Q2 2021)
- Bounty On The High Seas (Q2 2021)
We’ve chosen Cyberhunter and Bounty on the High Seas due to their global appeal, quality and differing features like multiple bonus rounds and cascading reels.
As with all of our RGS slot games, the key changes we need to make are to build them for “mobile portrait first” which takes the lion’s share of gameplay. As well as these UI changes for portrait we also have the opportunity to amend the math models, increasing the max win multipliers and volatility.
Sales and Marketing activity which began last quarter focused exclusively on FunFair Games/multiplayer games. Exposure at (digital only) events and several PR releases across industry-specific magazines has been met with keen interest from several operators. Further, multiplayer to single outcome games have proved to be very popular within the industry.
Marketing efforts will increase once the game is ready to demo on the EveryMatrix platform in a true multiplayer capacity. We expect the development team will deliver the demo in early February.
Once completed, we can engage with operators regarding distribution, release planning and exposure within their casinos. This gives operators around 6-8 weeks to prepare for the launch, which is a normal lead time for premium games.
The recent BTC and ETH gains and volume to the Crypto markets have increased our treasury to over six years worth of runway, two years of which has been secured in fiat to allow us to maximise our crypto position with sound financial planning.
Operational costs in the business have stabilised, and there are currently no office costs for the UK office because of working from home requirements due to COVID.
Q4 for FunFair has been an exciting end to a year that for most has been anything but.
The time was well spent setting up FunFair Games for success in 2021, with the right partners, games and promotion. Ensuring the foundation is secure for immediate revenue generation and long term building of multiplayer content for the FunFair platform.
The wallet has had significant resources placed in the self-service platform. We are looking forward to sharing this with developers to gather feedback and create a true gateway to crypto for emerging dApps and expanding the FunFair ecosystem.
Finally, the research into many L2 solutions has provided insight and exciting new opportunities that we want to share and develop with the community this year to benefit the platform and FunFair technologies ecosystem.
We’re looking forward to 2021 and making some announcements very shortly in regards to both the L2 game concepts and of course, Rocketeers to the Moon!
This year FunFair Technologies will continue to expand its technical capabilities and offer more opportunities for customers to interact with our products, combined with a healthy runway to make the business succeed.
Stay tuned to our discord or telegram communities for more updates as we look forward to a productive quarter.