FUN Token.io this week announced that it will acquire all technology developed for BETR and key personnel will join the new FUN Token team. Heralding a new era for FUN Token, BETR CEO Adriaan Brink will assume the role of CEO of FUN Token.io and will grow the team and spearhead the new drive to grow opportunities for FUN, building the future of decentralised gaming.
Brink has a wealth of experience in the online gaming industry, starting in 1995 with lotteries and progressing through all gaming verticals over the past 25 years. He co-founded Earthport (now Visa Direct) in 1999 and his payments experience combined with gaming make him the ideal person to take FUN Token.io to the next level.
Bitcoin’s price surge has supported a spike in online gambling innovation with cryptocurrencies based on blockchain technology. Taking advantage of this buoyant market, FUN Token.io’s token FUN, which is currently listed on leading exchanges like Binance, Hit BTC, and OKEx, is creating utility through mass adoption using decentralized technology in the rapidly growing crypto-based gaming industry.
FUN is already being utilised by one of the leading BTC gaming websites, Free Bitco.in. With more than 40 million users, Free Bitco.in this month released a loyalty rewards programme underpinned by the FUN token, driving utility for FUN across the Free Bitco.in platform.
This loyalty reward initiative creates advantages for users starting with cashback in BTC, free spins as well as daily interest on holding FUN. The loyalty programme has already created a ‘buzz’ in the crypto industry with over 100,000 new holders of FUN hosted on the Free Bitco.in platform.
An interview with Brink, CEO of FUN Token.io
In a recent text interview with Adriaan Brink, newly appointed CEO of FUN Token, I tried to uncover FUN’s future place in the crypto gaming market.
Hi, thanks for joining me for a talk. How, in your opinion, has blockchain technology already transformed the online gaming industry? And on the other hand, what are the flaws of using crypto in online casinos?
Cryptocurrency has been accepted at many online casinos and sportsbooks for several years now. Although online gaming with crypto is shunned in some of the more regulated territories due to the perceived risk of money laundering and lack of clarity on the source of funds, there are many territories across the world where gaming communities have taken advantage of the security and convenience of crypto in gaming. The constant evolution of blockchain technology and the decentralisation opportunities it offers will ensure that we can continue to deliver better products for the players and reduce player risk. FUN Token.io now has the technical capability and know-how to drive real innovation in this space.
How would you characterise the crypto gambling sector nowadays - who are its leading players, and what is the planned roadmap of its future development?
There is a lot of activity in the sector. We see more and more existing online operators taking the plunge and accepting crypto payments through gateways such as MoonPay and Coinify. The number of crypto-only gaming operators continues to grow, although most have some way to go before they will be on par with the large existing online operators.
From BETR to FUN, what attracted you to this project, and how has the transition been so far?
We have always been reasonably close to FUN and we’ve collaborated from time to time on technology ideas. With interest from Free Bitco I saw an opportunity in their massive player base to introduce them to technology that we’ve developed, which will fast track changes to make the ecosystem less hampered by the gas fee issues on Ethereum and to introduce more gaming options.
Do you see cryptocurrency gambling becoming bigger than traditional gambling in the future? Where does FUN fit in this vision?
That would be a big statement as online gambling is already such a massive market. Ultimately I would expect more and more to move to the crypto sphere, but it has and will take time. Core to this will be simplifying the user experience.
The FUN token already has utility on Free Bitco. Which markets do you want to focus on, and what is the potential in the FUN token utility?
We will introduce a raft of new gaming opportunities, peer-to-peer in some cases, and look at building out into the colossal multi-player casual gaming space.
Recent news of BETR acquisition has excited the FUN token community. Can you tell us what we will likely see from the FUN Token.io platform and what it will look like for FUN holders?
The initial focus is on dealing with the Ethereum gas issues. We will be implementing side-chain and, to some degree, off-chain components to mitigate this, which rendered the first generation of both Funfair (FUN’s original gaming platform) and BETR (an online crypto sportsbook) untenable (gas prices for chain-based betting went from sub $1 to nearly $500!). We will make a significant announcement on this front very soon.
Sports betting is a crucial feature of many gaming platforms. It accounts for a considerable amount of revenue in the current market. Will you create a similar experience for the FUN Token community?
Absolutely! BETR has a wealth of knowledge and experience in this space and, of course, a fully functioning sportsbook. Once we have dealt with the gas issues, we will re-launch peer-to-peer sports betting on all popular sports and esports, including great in-game odds.
How do you envisage a different experience for players from other cryptocurrency casinos?
As far as possible, we will focus on progress towards a frictionless user experience. In the future, we will also enable all operators in the marketplace to become part of our community.
Free Bitco allows FUN holders to receive interest and other perks by keeping the token on the platform. Do you have any plans to expand the role of the FUN token?
Freebitco launched the FUN token to its premium membership relatively recently and has already seen significant interest, with over 100K users purchasing FUN in pre-sales off-chain so that they can take advantage of the premium membership loyalty perks. It is worth mentioning that Free Bitco FUN token holders now outnumber the on-chain users, and uptake is continuing at a rapid rate.
What can we expect from FUN in the next 12 months?
Speed through new sidechain technology, reduced friction in the user experience, and the most essential, significant increase in content and ways to use the token. It is an exciting time ahead!