Blockchain technology has already established itself as a technology with many applications in various industries. But according to FUN Token, the gaming industry can also benefit from this.
We spoke with Adrian Brink, CEO of FUN Token, an online gaming veteran with over 20 years of experience in the industry, about the future of the online gambling industry and how decentralization has to do with it.
1. Why did you decide to start a company in both gaming and cryptocurrency?
I have been in online gaming for over 20 years, starting with the lottery in 1995. When I started with cryptocurrency and blockchain, I spent a lot of time learning how to use blockchain to improve the gaming experience, and especially the safety and security of player funds.
In 2017, he launched BETR, a peer-to-peer sports betting system that encapsulates all the money management on the blockchain, and essentially removes the house from the equation.
This lasted for several years, but gradually decreased as gas taxes became more and more burdensome for Ethereum. Earlier this year, I had the opportunity to lead the Funtoken team and BETR merged with FUN. In 2022, we will release a new version of the new game system for XFUN tokens, and we are now working to bring the players responsible for casino games back into the hands of the players.
2. Are you worried about the image of the betting and gambling industry and what impact this may have on the project?
not at all. In fact, I would question the assumption that these industries have a bad image, especially on the Internet.
Online gambling is a huge industry in which many large companies play a role. The recent announcement of the $ 22 billion acquisition of Entain by Draftkings is a very clear example of this. We work mainly to entertain our users, and in the vast majority of cases, our activities are perceived as positive.
The official website mentions the launch of a token that is “more performance and less expensive than Ethereum.” Can you talk about this and that it will be “cheaper” in terms of transaction costs?
We’re excited to launch XFUN, an ERC-20 compliant token, on the Polygon blockchain. Polygon (MATIC) is similar to Ethereum (ETH), but with significant advantages in terms of transaction costs and speed. The gas taxes on Polygon are very low for simple transactions, and the blockchain has more room to scale in the future. We have also added the ability for our apps to fund user transactions, which means users do not need to have MATIC in their wallet to perform transactions. I believe that waiting for users to understand and pay gas taxes is a major obstacle for cryptocurrency to spread to the masses, and with XFUN we now have the building blocks we need in the future.
4. Tell us about the upcoming decentralized casino.
We solve the problem of decentralization in several steps. Basically, this is about reducing the element of protection in online games. In casinos or traditional online betting, players deposit money, wager or gamble, and then withdraw their money or keep it for future play. Although this money is in the hands of the operator, it is not available to the player, and the player depends on the operator’s honesty to settle when a withdrawal is requested.
Transferring money is expensive and fraudulent for the operator, so they tend to make withdrawals difficult or time consuming for players. In the first step, we will give players a mechanism to attach their XFUN wallets to the operator’s side, so that deposits and withdrawals are seamless, free and very fast. The consequence of this is that the money will be stored in the player’s non-wallet when not in use, giving the player absolute control over their money.
Several steps for decentralization will be proposed in the future, including sports betting completely outside the chain and mechanisms on the chain that will allow players to take part in the game.
5. Tell us about your roadmap and the important milestones in the project?
The most important thing for us right now is the implementation of the XFUN bridge and wallets. Activating technologies will complement the XFUN ecosystem, then we move dplay.casino from FUN to XFUN.
In the future, we will also launch another more complete casino for XFUN. Later this year, we will start adding third-party players to the ecosystem, and significantly increase the content available to our players.
Expect to add poker and sports betting to this number in the future. We will also look outside the gaming area for more synergistic partnerships – just like the ones we already have with Travala Travel.
In 2022, we will work with mechanisms that will enable more gaming operations in the chain, from peer-to-peer sports betting to casinos and practices.