Casino and social gaming with ethereum smart contracts.
UK with legal entities in Singapore, Malta, Gibraltar and Guernsey.
Ethereum ERC20 token protocol.
22 June 2017, 4-hour duration.
$26 million in bitcoin, ether, zcash and 20 different ERC20 tokens.
17 billion FUN tokens created.
21% sold to investors
79% retained by fundraisers.
Market cap – ICO amount raised per token sold * total number of tokens
Market cap – first listed Jul 2017
Market cap – Feb 2019
RIO since ICO
Per year: -53%
RIO since first listed
Per year: -48%
The FUN token is an app-coin and will be used for all aspects of the platform including betting, fees, rewards, affiliate payments, et cetera.
FunFair is an early stage project with only prototypes and alphas to show at the moment.
FunFair appears to have an elite team of veteran developers and executives with relevant experience. They appear to be developing interesting technology.
It is not clear if users will find betting on their final product with FUN tokens compelling or not.
Ad hoc changes to monetary policy
The fact that FunFair created too many tokens and then changed their fund-raising plans and then changed their monetary policy and burnt a significant portion of tokens is concerning. It suggests ad hoc planning and they have not provided a good reason why the tokens should have been burnt.
This was a change in monetary policy which will make people weary of holding the token as an investment.