2019 – Q3 Review
As usual at the end of each quarter, we, the FunFair team, want to recap on what we’ve been up to over the last three months, and it’s certainly been an industrious Q3, reaching yet more significant milestones, perhaps some of our biggest yet considering their pioneering nature and move towards bringing blockchain to the masses.
So, in the following blog post you’ll find a breakdown of what’s been launched and what’s been in development behind the scenes for each department. We hope you find it informative and as ever, we’ll update on the coming quarter’s goals as soon as possible early next week.
One of our biggest projects since launch, the FunFair Wallet and platform updates were launched on both showcase and live to our white label partners at CasinoFair and Crypto Casino over the last couple of weeks. These have required a lot of work and here’s some more information on the two projects.
The FunFair Wallet launched without a hitch last week, and we’ve been very satisfied with its reception to date; we had nearly 100 new wallets opened in the first week alone. As Jez laid out in his blog post last month, tools that can assist with adoption across the blockchain sector should be prioritised and that’s exactly what we’ve been doing in order to drive a new audience to our game changing gambling platform.
Onboarding has been our main focus for months now and the FunFair Wallet, incepted late last year and in development since Q2, is the fruit of these labours. We’d like to congratulate the team behind the wallet on its successful launch as well as thanking you, the community, who have been consistently supportive along the way.
We’ve always looked at the bigger picture in the context of mass adoption
and we’re thrilled to launch such a pioneering element of our gaming ecosystem. We’re one of the first to go down this in-house, bespoke wallet approach for our own ecosystem and we’re excited to see the reaction we get in person when we demonstrate it at Devcon5 in a couple of weeks.
The FunFair Wallet will mean onboarding friction will be greatly reduced, leading to far less drop off on the sign-up funnel and sooner rather than later, we expect to see more players at our partner casinos. These players will see much simpler security and password back-up choices and a generally much improved casino experience.
Most significantly, and unique to ourselves and the FunFair ecosystem, the FunFair Wallet will be usable on any device and any browser, opening up our games and casino partners to thousands of potential new players around the world. No longer is there a need for clunky third party plug-ins or apps. We’re dragging blockchain kicking and screaming to the world and we’re cautiously optimistic about what lies around the corner.
Second Generation Platform
As we’ve stated in previous updates, we’ve been busy building out a new platform UI and integrating an improved CMS system in the back-end, which has many interdependencies with the wallet launch. And as with the wallet, this too is live!
White label partners will now have access to a much improved CMS which will allow them to control the content they want to display on banners and around games in real-time. This enables them to optimise their performance through more varied and targeted promotions and campaigns that resonate with their player base. This, we expect, will lead to stronger brand loyalty and customer segmentation, ensuring marketing cuts through and improves faster over time.
CasinoFair has also had a reskin on the back of this UI update. Visitors to the site will now see a much more vibrant, audience-focused brand look and feel which will both resonate with players and entice more to the platform. It’s fresh, forward-looking and, we think, offers a far more immersive, exciting casino experience for all.
In addition to these two major projects, we’ve also started considerable development work on the platform back-end to ensure we remain and become more compliant with licence requirements and industry standards.
Q3 saw us launch the first virtual sports title anywhere on the blockchain with Raceday: Horses. This added yet another game genre to our ever-growing portfolio and, with the inclusion of community-named and -inspired horses, it’s been well received! Keep your eyes peeled for further industry first virtuals titles in the coming months.
We have also created a VIP variant of Baccarat featuring higher betting limits and higher FUN wins, following our previous Blackjack VIP title which continues to attract significant turnover. The VIP segment is one we’ll continue to focus on over upcoming game releases.
We’d also like to put on record that we have paused game releases in recent weeks due to the heavy lifting that’s been going on with upgrading our platform. That doesn’t mean we have stopped making games, though; our games team wouldn’t stand for that!
Many titles are currently in the concept, prototype and development phases and we will share some of these with you very soon.
B2C Marketing & Operations
Across B2C marketing, we focused on our existing customer base and offered exciting promotions like Moon Racer and Millionaire Maker. In doing so, we hit an all time high in wagering of nearly 200m FUN in July and had a major turnover weekend a couple of weeks back which saw 192,000,000 FUN turned over.
From an acquisition point of view, we launched the on-chain element of our affiliate program and have continued to sign up affiliates and referrers in both the gaming and crypto spheres, while also pushing our referral program. We now have over 75 individual affiliates and referrers live and continue to grow the programs through onboarding iteration, better communication and more exposure.
Having on-chain affiliates guarantees real-time payments on all bets placed by those partners have referred and this significantly raises the bar for affiliate relationships going forward. It has raised a few eyebrows at industry events but all in a positive way having proven and now gone live with this groundbreaking solution.
We have generally held off on media spend as we waited for the introduction of the new wallet. However, since launch we have upped this with the new sign-up offer and creative across a number of networks. We have registered more customers in the last week than we did in the last two months combined and we’re bullish on the future from an acquisition point of view.
We’re also investigating further social activity through influencers and micro-incentivisation campaigns, while SEO continues to be worked on in-line with site improvements.
As mentioned above, with the initial success of acquisition marketing over recent days, we are very positive heading into Q4 and beyond.
B2B Marketing and Commercial
The start of Q3 saw FunFair attend the C-level gaming conference WGES in Barcelona. We have been present at this show for the last few years as it has grown and it consistently delivers excellent opportunities to present our business case to senior decision makers at other organisations within our industry.
This year saw a few specific opportunities to talk through our offering, including a round table on the first day which was lively and informative, a panel slot which Jez San OBE shared with BettorBetting’s Adriaan Brink, and Lloyd Purser presented a while label case study to the engaged audience on the second day.
The week following saw FunFair and CasinoFair share a platform at iGB Live! In Barcelona. The double team effort presented FunFair to the B2B share of the audience as we sought new commercial partners and potential white label and operator deals, while for the very first time, CasinoFair showcased its Affiliate Program to the floor.
Backed up with some video advertising around the show, CasinoFair made some waves with their affiliate technology offering instant payments, no hidden fees and access to a vast new audience. There was an element of education to those who didn’t understand how this could be possible, but on explanation of the simplicity of partnership, backed up by our cutting-edge blockchain technology, the general consensus seemed to be that this was the future of affiliate deals.
July also saw us announce our second external white label partnership with London-based digital media agency, M25 Media. With specialisms in affiliate management and digital marketing, M25 is well set to be a successful casino brand on launch (details on which to be announced shortly) and will provide yet another identity to present to our growing player base.
We’ve engaged with M25 on the first steps of integrating the brand onto our platform and its marketing assets are being finalised as we speak. We can’t confirm a launch date just yet but we expect to deliver our third casino partner in Q4 this year.
Recently, we announced our approval for the Token Based Software Supplier Licence from the Isle of Man Gambling Supervision Commission. Being the first to receive this B2B licence gives us extreme pride and will allow us further collaboration and exposure with the Commission’s other licensees.
We’ve already attended various networking events at the dependency, prior to and since being awarded the licence, which have given us further optimism about what it will mean to our business going forwards.
The team continues to bring in the best in the business Joe Roe and Corwin Moyne have joined the development team in Ireland. On the commercial and marketing side, Michael O’Connor joins us as our Group Financial Controller and Giorgiana Sologon has come in as Management Accountant, while David Pedrini is our latest hire as Social and Community Manager.
Various new development staff have also been onboarded in our Dublin team who have been particularly beneficial bringing new ideas to the wallet and new platform projects.
FunFair Wallet, second generation platform, Isle of Man licence, new white label and blockchain gaming firsts, all in one quarter. We think that reads pretty well. It’s been a landmark quarter and we’d like to thank all our community once again on your support and feedback, and be sure that we won’t be stopping their.
Next quarter’s preview will be released shortly, and now we have the big ticket items done, you can expect many more smaller projects to come that will continue to hone the platform and make our gaming offering the best it can be.
The FunFair Team