FUN Token has an exciting future ahead. With new technology thanks to the BETR transaction, and less restrictions on the potential product landscape, we will establish FUN as the BTC in the gaming token landscape.
The new custodians of the FUN Token bring two very important pieces to the puzzle – free cash flow from existing operations which provides funding to develop the ecosystem, and more importantly a huge and growing player database. With over 40M registered users and 1M new monthly unique visitors the power of this player base can not be under-estimated.
A first test of the potential conversion was the launch of the freebitco.in premium members program where customers were invited to invest in a minimum of 2500 FUN tokens directly on the site. In less than 2 months they have attracted purchases from around 110,000 users of over 106 BTC ($6M) worth of FUN. To put this in perspective, the total ownership of FUN prior to Freebitco.in involvement was around 80K users after 4 years of ongoing marketing.
Going forwards we will deal with a number of issues that have hampered the growth of FUN, and these measures, combined with targeted marketing to the huge Freebitco.in user-base promise to deliver an increase in activity that will be unparalleled in this sector.
Existing product development and extension
- Continue to nurture and grow our user base focusing on embedding loyalty and growing specific geographies.
- Continue to run FUN investor marketing activities such as trading competitions.
- Actively encourage other gaming operators to take advantage of our token ecosystem and player base and offer their opportunities to the network. By encouraging 3rd party opportunities, we will increase usage of the token.
Token development
- Launch a NewToken on a sidechain which is more performant and less expensive than Ethereum. This token will only be available through a 1:1 bridge mechanism with FUN. Users will have to escrow their FUN in order to acquire the new token, reducing the trading supply which will ultimately increase demand.
- We will burn a percentage of all nett gaming win from our own operations on a monthly basis reducing the circulating supply of FUN Token.
New product development
- A new casino and other gaming opportunities on FUN designed to be simple and easy for end users.
- On-chain peer-to-peer gaming including casino, sports betting and poker on the NewToken – enabling frictionless and fast operation.
- Move beyond the current gaming opportunities to embrace other games such as social gaming and possibly other forms of gaming outside the gambling space.
Nothing happens overnight, and it will take some time to put the above in place. The team is growing as we speak and everyone is super psyched to achieve the goals above. We will release news of progress as it happens, as well as a complete roadmap soon on the funtoken.io website.