Online gambling is a huge entertainment industry and blockchain technology is the next natural step in its evolution.

Blockchain technology has already established itself as a technology with numerous cross-industry applications. But according to FUN Token, the gaming industry can also benefit from it.

We spoke to Adrian Brink, CEO of FUN Token, an online gaming veteran with over 20 years in the industry, about the future of the online gaming industry and what decentralization has to do with it.

1. Why did you decide to start a business in both gaming and cryptocurrency space?

I’ve been playing online games for over 20 years, starting with the lottery in 1995. When I first started studying cryptography and blockchain, I spent a lot of time figuring out how blockchain could be used to improve the gaming experience and especially security improve safekeeping of player funds.

In 2017, I launched BETR, a peer-to-peer sports betting system that encapsulated all money processing on the blockchain, essentially taking “house” out of the equation.

It worked for a few years but gradually declined as Ethereum gas fees became more and more onerous. Earlier this year I had the opportunity to lead the Funtoken team and BETR teamed up with FUN. We will release a new staking edition for the new XFUN token in 2022 and are currently working to put control of casino games back in the hands of players.

2. Are you concerned about the image of the betting and gambling industry and how this might affect the project?

Not at all. In fact, I would question the assumption that these industries have a bad image, especially online.

Online gambling is a huge industry involving many very large companies – the recent announcement of a $22 billion bid to acquire Entain by Draftkings is a very prominent example. We are first and foremost committed to entertaining our users, and in the vast majority of cases activity is viewed as positive.

3. The official website mentions the launch of a token, “more productive and less expensive than Ethereum”. Can you elaborate on this and how it would be “less expensive” in terms of transaction costs?

We are excited to launch XFUN, an ERC-20 compliant token, on the Polygon blockchain. Polygon (MATIC) is similar to Ethereum (ETH) but has significant advantages in terms of cost and transaction speed. Polygon’s gas fees are very cheap for simple transactions, and the blockchain has much more room to scale in the future. We’ve also added the ability to fund user transactions to our applications, meaning users don’t need to have MATIC in their wallets to complete a transaction. I believe the expectation that users will understand and pay for gas is a major impediment to the spread of crypto to the masses, and with XFUN we now have the building blocks we need to move forward.

4. Tell us about the upcoming decentralized casino.

We solve decentralization in several stages. At its core, it is about reducing the custody element in online gambling. In a traditional online bookmaker or casino, players deposit money, then wager or play and then either withdraw their money or play it in the future. Although these funds are in the hands of the operator, they are not available to the player and the player is relying on the good faith processing of the operator when requesting a withdrawal.

The process of transferring funds is costly for the operator and exposes them to fraud, making withdrawals difficult or time-consuming for players. In the first phase, we will provide players with a mechanism to link their XFUN wallets to the operator’s website, making deposits and withdrawals seamless, free and ultra-fast. The result of this will be that the funds will be stored in the player’s own non-custodial wallet when not in use, giving the player absolute control over their funds.

Further decentralization steps will be taken in the future, including full online sports betting and on-net mechanisms for player betting.

5. Tell us about your roadmap and important project milestones?

The most important thing for us now is to deploy the XFUN bridge and wallets. These supporting technologies will complete the XFUN ecosystem and then we will move from FUN to XFUN.

In the future we will also have a w

Source: CoinTelegraph