Tech entrepreneur Jez San’s latest venture, FunFair Technologies, has raised a landmark sum from the presale of tokens that will eventually power every aspect of its blockchain-based gaming technology platform. FunFair is designed to deliver unrivalled transparency for consumers and efficiency for casino operators.
Slated to last a maximum of 15 days, FunFair’s Phase 1 Token Presale on June 22 sold out in just 4 hours, having reached its hard cap of $10M in contributions made using the Ether cryptocurrency. FunFair also received more than M in Bitcoin and other cryptocurrencies from individual contributors as well as institutional funds, including Kryptonite1, Block Tower Capital, and Pantera Capital.
“I’m thrilled that the blockchain community and institutional funds have so emphatically backed the team, our vision and the progress we’ve already made,” said Jez San OBE, founder and CEO. “Now it gets even more exciting as we work towards a live platform and the creation of a truly fair, transparent and player-focused gaming world.”
“FunFair is an incredibly clever Ethereum-based casino games company – decentralized, P2P, provably fair online gaming. My intuition is that Funfair is going to be huge,” noted Dan Morehead, Founder and CEO of Pantera Capital.
“Funfair will be one of the first practical applications to go live on Ethereum, and it actually solves a real problem of high casino fees and trust. It’s an Ethereum app that I could actually see my grandma using, which is pretty cool!” remarked Joey Krug, Co-Chief Investment Officer of Pantera Capital.
“FunFair has built the first production-ready state channels, powering incredibly quick games without compromising on provable security. They’re leagues ahead of other efforts. Jez is everything you could want in a project lead, and I believe FunFair will be an invaluable addition to the ecosystem,” said Charles Noyes, Analyst, Pantera Capital.
“Funfair, the team and the technology, were very impressive. Gaming is a major vertical set for disruption by smart contract technology and Funfair are by far the furthest ahead in terms of functionality and playability.” George McDonough, CEO of Kryptonite1.
“I’m excited to see an experienced entrepreneur like Jez San bring Blockchain technology to gambling. Gambling is an obvious use case for Blockchain tech, but hasn’t yet been implemented in a user-friendly way – I’m looking forward to seeing FunFair change that,” noted Ari Paul, Founder, Block Tower Capital.
“Jez and the FunFair team are fantastic. I’ve known Jez since 2013, and it’s been a privilege to work with his team defining the token mechanics and creating the ultra-efficient, token sale contract. I’m looking forward to the next phase for FunFair!” said Peter Vessenes, Managing Director of New Alchemy.