FunFair’s Q3 AMA & Q/A Summary from July 21st, 2020.
Q: ‘Long-awaited leaderboards’ does that mean auto leaderboards?
A: Yes!! – real time leaderboards (we have a manual solution already – which I would love to not have to run). I mentioned in the past community chat that it was a two step process, avatars first then the implementation of those avatars across the site in meaningful ways for players.
Q: With the ‘new tile functionality’ are you preparing base level for social features to be implemented in future? Like chatting, banners etc.
A: The new tile functionality includes things like live leaderboards (a big ask from the community), countdown timers for new promotions, gaming sessions/bets placed within the casino shown in real time and a conversion tile so people can calculate the price of FUN without doing mental gymnastics in their head.
Q: Are you planning on special avatars as an achievement or a prize during a competition?
A: The avatar solution was built with this in mind, i.e. specific avatars can be loaded to user accounts. I was hoping to award ships to users that won the last MoonRacer, but alas that ran out before this avatar launch. Who knows, perhaps someone may get the dreaded “red shirt” avatar! 🙂
Q: Can we get a list of allowed countries?
A: We can’t give you a list of countries we allow for compliance reasons. We currently allow over 50 countries.
Q: The tower defense-inspired game, can you tell us a little bit more about it? How do you get to gamble in it? On random tower buys? You spend 100 FUN and can build a tower for 5 waves and have to see how this pays out?
A: It’s based on the tower defense concept where of course the player shoots as many zombies as possible (the player can point their turrets but doesn’t control the shooting), they gain winnings throughout and can also buy repairs on towers and weapons to extend the play and potentially win more. It’s very different from a gambling POV to what’s out there right now and we’re excited to release it!
Q: Any update on the affiliate program? How many affiliates have been signed (across all the white labels)? How many new players have joined a FF casino due to an affiliate link? How much FUN has been paid out so far? Can we see what the new Affiliate Portal / Reporting page looks like?
A: To date we have had 207 affiliates register on the program and 1585 players have signed up through affiliate links. In regards to payout amount, unfortunately I don’t have that to hand but as you know our affiliates are paid out on wagering users. Most traffic driving from affiliates convert to playing users. Below are a few screenshots of the portal for you- all fake data before you start interrogating it! 🙂
Q: What do you mean by: “digital display opportunities ready to switch on”? Is it banners on websites or are you talking about big screens on the streets?
A: Any digital online advertising, such as retargeting users who play specific games, who have FUN in their account, Users that won big, etc etc. Better communication with our players and potential customers effectively.
Q: Same question with “licensing our content for web 2.0 operators” will the FUN token holders benefit from it? Are you planning to distribute the earnings of these deals to the token holders?
A: We are going to make sure that these (games and wallet) initiatives benefit the token economy, we are looking into various options in terms of how we can do this but don’t have details to share yet.
Q: What is the benefit of “‘wallet connect’ function” if I still have to deposit into the funfair wallet to start a session? I would like to see a connect functionality where I can play from my ledger without depositing into the FunFair Wallet.
A: Its ease of use, it makes it easier for you to transfer FUN and ETH to your wallet. Supporting ledger directly for gameplay is something we’ve looked at, but the process is quite unpleasant when signing transactions containing large amounts of data. In general we’ve found supporting 3rd party wallets for gameplay, either software or hardware, quite problematic from a user experience perspective.
Q: Generating revenue is fantastic all round. On the cautious side, I’ve seen some projects find a revenue model which doesn’t exactly benefit token holders/the token. They become driven by their new found revenue streams and tend to drift away from their coins proposed tokenomics/working towards giving their token increased utility. Is there any risk of that same thing happening here?
A: No, we see the token economy as key to creating value for the Group and token holders and are continually looking at ways we can better do this. I do not see the addition of revenue generating initiatives as being in conflict with this.
Q: In regards to licensing the FUN wallet: Has consideration been given on how to best leverage this interest in a way that would also benefit the FUN token? Perhaps companies that want to utilize the wallet tech should need to hold x amount of FUN as one of the requirements?
A: As mentioned in the above, we don’t have details yet. On the wallet though we are not charging the first handful of customers for their 1st 6 months, so we can work out the best way to monetise the product, that will include how we benefit the token economy. Also don’t forget the FunFair platform will benefit anyway from the wallet being used by third parties through the integration of better fiat to crypto providers at better rates.
Q: The majority of players are still on CasinoFair.com – any feedback from CryptoCasino or KingTiger on how their business is going? Are they going to make further investments in promotions, etc? What is their marketing plan? How about a joint AMA sometime between FF and all the white labels?
A: We know that both CC and KT have their own approach to the market- focusing on larger players, or acquisition through affiliate marketing which is a slow burn. They also have some issues in accelerating those deals to higher levels as player values on traditional casinos are generally higher (something we’re looking to address). Recently CC have taken steps to begin retention marketing which is ideal as they are now talking to their customers more regularly and KT have also been quite excited by the new avatars and more specifically the benefits that will bring to other aspects of the platform.
Q: What is the current status of licensing the platform to Isle of Man operators (now that the vulnerable player protections are there, coupled with the Token-Based Software Supplier license you achieved last year)? When will the first non-white label casino likely launch?
A: We continue to work on leads in the IOM with operators there, COVID-19 has not helped with some of the leads we were closest to. Some put a lot of their innovation on hold going back to Feb this year. We continue dialogue, I cannot disclose any more information or dates on potential operator launch.
Q: Who would be best to send in an outline of a game concept?
A: There’s a few folks on the games team, but if anyone has a serious concept they’d like to propose, then getting in touch with Oliver may be a good first step. Of course, they could always inquire publicly and we’d follow up too.
Q: Can we get an update on the number of months left of the runway, based on current BTC / ETH prices and burn rate?
A: We are currently at about 2 years runway in fiat and crypto.
Q: How is FUN staking planned to work? What is the expected APR?
A: As always, we spend time researching how to solve the difficult problem of trustless staking within the FunFair platform, as yet we don’t have a solution, but we continue to investigate it and emerging blockchain technologies which might help us get there.
As for APR – staking into a casino will not be without risk, it is possible for players to win after all! I don’t think it’s time to start calculating potential returns for staking at this point, it will depend on the volume of wagering going through the casino, the overall casino RTP (return to player), the total amount of tokens staked and don’t forget the operator who probably would like to make some money. On top of this there are also regulatory concerns we need to be mindful of around this.
Q: What is the approval process for 3rd party game developers who want to write for the FF platform? What is the business model between the dev, FF and the casino operator?
A: We have not fully defined it yet, but we’ll have to get a view and approve in advance any potential games to go on the platform as they are not without cost to us (integration and QA costs for example) and also should be a good fit. Whether that’s a working game or an idea, concept. The business model is a revenue share, the game developer will take a % of the revenue and as with affiliates this happens at the smart contract level in real time.
Q: Will the Game Dev Docs be publicly available, so people can build games 1st and get submission approval afterwards? & Best Guestimate on delivery date Start/Middle/End Q3?
A: Docs will be made publicly available yes, but we’ll still need to approve games so the approval would need to be done in advance of building a game.
Q: How will FairCheck be improved? Will it be possible to truly verify the blockchain-based fairness of a given game session?
A: We are making improvements to how we surface Guaranteed Fair throughout the product including on the opening and closing sequences of sessions, making FairChecker clearer, updating our FAQs and also doing more marketing around it.
Q: Will each white label / operator have the ability to add / reject a given game to their lobby or do all have the same selection?
A: Operators can already choose which games they want to have available on their casinos.
Q: You had previously mentioned you might get your own Isle of Man operator license (and then do white labels like you have done with the TTM BV entity and the Curacao license) – is that still the plan? Timeframe?
A: Once we sign up an operator it could make sense to get a B2C license in the IOM.
Q: What do you believe how long it will take to integrate the new KYC provider? A time frame would be nice.
A: We’ve started working on it this week, assuming the integration all goes well will be released in the not too distant future, but we cannot talk about specific dates at this stage.
Q: Why not provide the option of paying gas client side if the player understands and is willing to pay it? Instead of having the casino shutting down when gas prices are high?
A: We have made some changes to further mitigate this today which should mean it’s no longer an issue, we are now paying gas whatever the price but with higher limits on minimum FUN brought into a game session .
We’re extremely resistant to going back to users paying to open game sessions as gas is such a confusing concept and the user experience when you make a bad choice is awful.
Q: Could game devs offer a period of exclusivity to certain casinos (in exchange for a higher fee, for example)?
A: That is indeed a possibility.
Q: Any more specific timeframe for having the new KYC provider for the Japanese market be up and running? What’s the difference between the new role being hired and Kazuma-san’s current role?
A: KYC question just covered, kicking off now no timeline is set on it yet. We’re sad to say that Kazuma is leaving the business, he is going back to Japan and cannot work on FunFair business there unfortunately as it’s not allowed. We’ve been looking for a replacement who is conversant in both marketing and operations.
Q: What are the capabilities of “… a new cloud-based data system which we’re bringing in shortly.” What kind of new functionality might that bring?
A: This system allows us to create data storage for specific game session events and as such it’s pretty flexible. One of our first usages will be the leaderboards but the system allows many other solutions as for example, access to specific games based on eligibility criteria (wagering and others), games with side information that is consistent across all the players.
With this system we can create new game mechanics that don’t interfere with the blockchain and aren’t part of the game maths and can be shared across multiple players.
Q: Could this be used to power progressive jackpots?
A: In some form maybe, though it’s hard to see how that would be provably fair.
That’s not what we’re building it for. However, we might look at different styles of jackpots based on the cloud system.
Q: Hi, I’m using Google Alerts for searching news/articles on a daily basis. One of my keywords is “FunFair FUN” and for the last couple of months I didn’t get a single FF related article. I’m tracking other projects too and I’ve got mentions of those projects almost every day. How can you explain this since almost every part of your updates is that “we’re working on the marketing”? What kind of marketing are you doing?
A: There have been some articles as we also have google alerts on FunFair. But in saying that I’d agree that we have been quieter than usual in Q2 and will be pushing much harder in Q3 with our social and content marketing agenda.
Q: Being a world class roulette player and me being a token holder who lives in a FunFair casino restricted region… I imagine there is a trustless way to agree to terms and where I can give Fabio the funds and have him play for me, and profit is shared. Is this legal, possible and easy to code up a smart contract for?
A: I think we’ll leave private arrangements between you and Fabio to yourselves. 🙂
Q: Any particular reason behind the drought of game releases? Part of the ‘documentation for third-party developers’?
A: We have announced the release of a new game next week and we have been working on new titles and will keep working on new games but we want to have the time to experiment with new concepts and new mechanics. Some of these take longer to concept, prototype and adjust, so we are trying to balance the roadmap accordingly.
Q: You both asked about side chains/optimistic rollup, L2.
A: We already have a battle tested L2 scaling solution with our FateChannel technology. As always, we’ve been keeping up with developments in the blockchain space to see if there are any opportunities for us to improve the platform.
Q: Has there been any investigation on whether FUN can be used as a governance token?
A: We are currently looking into further decentralization of the platform but this is a big project and requires significant legal as well as technical input. We still have some way to go on this project and as such we are not in a position to share anything about it but will do when we are clearer on the options that are open and appealing to us.
Q: Since the FF FateChannel technology continues to be one of the true functioning State Channel implementations out there have you thought of licensing THAT to other projects? Is it generic enough?
A: I doubt we’d license it, it’s the kind of thing that would probably only get interest if it was open source/free. The current version is not generic enough, we do have a near completed V2 version that probably is, but the reality is that state channels are complex to implement so I’m not sure how much value it would bring.
Jeremy did post a few blogs about this a while ago: https://funfair.io/a-reference-implementation-of-state-channel-contracts/
Q: Here’s an overall question – customer acquisition has certainly improved over Q2 through the promotions, etc. – what are the remaining blockers you see to really ‘take the brakes off’ on getting the DAU to 500+ (besides dealing with the gas situation)?
A: Gas is definitely a big issue right now, and will be a blocker in the immediate. However where I see a lot of wins is re-engaging with customers who signed up but didn’t play or haven’t been in the casino for a while now. Our regular players know there have been loads of changes to the platform and I want to re-engage with these users who may have missed the fiat onramps, death to gas (for players) and the range of new games. These are low hanging fruit and we need to execute upon.