FunFair is a decentralized gambling platform, placing casinos on the Ethereum blockchain. The platform is a secure and transparent online gaming alternative. Funfair is a centralized company which started in Singapore in 2017.
They currently have offices in Malta, London, Gibraltar, Dublin, and Guernsey. In this Funfair Price Prediction article, we are going to analyze everything about the project to help you determine whether or not it’s a good investment for you.
FunFair Historical Price Analysis
FunFair uses FUN tokens; FUN is an ERC20 token which relies on the Ethereum blockchain for all backend infrastructure. The FunFair ICO took place in June 2017, and they managed to raise $26 million in 4 hours.
FUN tokens were issued at around $0.07 per token. Buoyed by the impressive price action of bitcoin at that time, the whole cryptocurrency industry experienced unprecedented growth in value by late 2017 and early 2018, with many altcoin prices skyrocketing.
This is the same time FunFair saw its token value reaching an all-time high of $0.19106 USD on January 08, 2018.
This all-time high also marks the beginning of FunFair Token’s rapid devaluation as the whole cryptocurrency market entered what many describe as the longest bear cycle in its storied history.
Immediately after FunFair’s parabolic growth was a free-fall of its token value, which saw its price falling way below ICO prices. This price trend continued in most of 2018, entering 2019. In 2019 the price of FUN remained flat, trading horizontally with no significant price action.
On March 13, 2020, Funfair saw its price dipping to $0.00105 USD, the lowest it ever had.
Current Price, Market Cap, & Supply Details
FunFair Future Price Forecast Prediction
The year 2020 is an important year for cryptocurrencies in general. It marks the year when bitcoin will experience its third halving event (cutting the production rate of bitcoin), which usually signals the beginning of a new bull cycle for cryptocurrencies in general.
The last bitcoin halving event occurred 4 years ago, a year before the 2017-2018 bull market run. With Crypto markets seems to have already hit bottom, it seems that the time is ripe for altcoins like FunFair to make their upside price actions.
There is significant upside potential for FunFair, which has recently experienced its all-time low just two months ago.
The combination of the generally improving market sentiment, renewed cryptocurrency interest outside of the industry, the increasing regulatory clarity in many jurisdictions, and the impending Ethereum protocol upgrade to make it more scalable may serve as the catalyst to turn the FunFair’s fortune around.
Historically, the crypto market has always taken its cue in bitcoin’s price action, and we believe this remains true and the foreseeable future. This is the reason why our short term and long term forecast is generally bullish.
Short Term Forecast
Long Term Forecast
** This price prediction is based on the data collected from various sources meant strictly for educational purposes only and shot not be taken as investment advice. Users should do their own research before investing **
FunFair Price Prediction 2020
The year 2020 is a significant year for the whole cryptocurrency industry. It is the year of the third bitcoin halving which usually signals the start of a new bull market cycle.
Bitcoin is expected to make some significant upside price movements after this event and altcoins like FunFair are expected to follow suit.
The correlation of bitcoin price movements with altcoins is a widely known phenomenon, we expect the momentum of these price movements and its effects to continue 1-2 years down the road.
The price of FunFair found its all-time low early this year but we believe that from here on out we will see higher highs going into the year 2021.
Funfair could reach the price of $0.01394 USD by the end of 2020 and will continue to gather positive momentum one year after bitcoin the halving event.
FunFair Price Prediction 2022
The expected positive energy of the whole cryptocurrency industry in the subsequent months will help renew the interest of the general public. This may usher in a new generation of crypto users who will help fuel the crypto bull run that was initially triggered by the bitcoin halving event of 2020.
This is on top of the increasing acceptance of cryptocurrencies and more regulatory clarity will further increase the value of this emerging asset class. We expect that Ethereum 2.0 would have been released by then addressing the scalability problem that has been plaguing the Ethereum ecosystem which FunFair is part of.
Improving fundamentals and macro-economic changes in the industry it is trying to disrupt could help FunFair reach a new all-time high price of $0.201 USD by the year 2022.
However, this new all-time high is expected to be short-lived as we are expecting some profit-taking. Nonetheless, we don’t expect to see the price of Funfair to drop below ICO prices anymore.
FunFair Price Prediction 2025
Five years down the road we expect the industry to reach a level of maturity that would give it a better chance of achieving mass adoption. Regulatory clarity would have been reached and many of the scalability problems would have been solved.
The prevalence of cryptocurrencies and blockchain technology-based services and products and familiarity of the masses to this tech would have broken down the barrier to entry.
On top of this, 2025 would be a year after another bitcoin halving event which sets the crypto market to its periodic bull market cycle.
Another parabolic increase in crypto prices is possible with high-quality projects like FunFair increasing significantly. We believe in this bull cycle, and FunFair could reach the amount of $0.3283 USD per token.
Is FunFair a Good Investment?
At current price levels FunFair might prove to be an excellent investment for investors looking for underappreciated high potential projects.
The current price of FunFair certainly does not reflect the quality of the project as well as its potential value in the future. In light of the current COVID-19 pandemic, the gaming industry is more likely to shift to online gaming, and readily available infrastructure like FunFair could prove to be valuable in this transition.
Cryptocurrencies will play a vital role in this shift as a replacement for cash transactions.
We believe that FunFair has bottomed out and is currently hugely undervalued. It is also one of few the blockchain projects in the industry that might actually gain from the current pandemic that has halted global economies around the world.
As more brick and mortar casinos come into grips with the “new norm,” they will surely be looking into new ways how to continue their business.
Online casinos are their natural evolutionary step. The use of cryptocurrencies and blockchain technology will ensure the availability of a “virtual” public infrastructure similar in function to cash, private and secure.
How to Buy FunFair?
Those who are interested in holding this digital asset can choose among these exchanges. However, most users will not be able to buy FunFair tokens directly with fiat.
They will have to buy BTC or Ethereum first using fiat onramps in these exchanges like SIMPLEX then trade it in the exchange to get FUN.
A more direct way of buying FUN with fiat is using instant cryptocurrency exchanges like ShapeShift, Changelly, and ChangeNow. Buyers will be able to use fiat to purchase FunFair through the use of their Bank cards.
These exchanges also support other cryptocurrencies as payment options, with many of the popular digital assets accepted. Among the different options to buy FUN, instant cryptocurrency exchanges are generally considered the easiest one to carry out.
FUN can also be procured through decentralized exchanges (DEX) such as Uniswap and ForkDelta. Please be reminded that DEXs require the operation of non-custodial wallets, which might be too complicated for new users.
These two DEXs are Ethereum-based DEXs, which means only Ethereum-based tokens are the only supported cryptocurrencies for transactions. Fiat payments are not supported.
Alternative Way to Buy FunFair Coins
More Information About FunFair
What is FunFair?
The FunFair project is intended for casino operators, game developers, players, and affiliates. The FunFair platform can be used by casino operators and game developers to create a fully customizable player experience on the blockchain for gambling games such as blackjack, slots, baccarat, roulette, and more.
Operators can get a FunFair license quickly and get a white label casino with a relatively little upfront cost. Traditionally online casinos had to contend with an infrastructure arms race during peak and off-peak periods and as players onboarded.
This infrastructure also laid idle during off-peak periods, not generating revenue. FunFair resolves this issue by using the Ethereum blockchain as the network and server infrastructure.
Ethereums decentralized infrastructure setup, server bandwidth, and fewer chargebacks make this the perfect structure for the modern online casino.
While chargebacks protect the consumer in certain situations, in the case of the FunFair casino platform, the players’ funds remain in their wallets and only pay per bet.
Winnings are immediately transferred back into the wallet once an outcome has been predicted. A large number of risks are reduced for the player and the casino using these methods.
FunFair co-founder Jez San has been involved in online gambling since 1982. He has founded numerous online gaming sites and startups. He has over 40 years of experience in the gambling industry. Additional co-founders include Jeremy Longley and Oliver Hopton.
The FunFair team has 32 members and 7 advisors with diverse backgrounds, including software developers, game designers, blockchain experts, and marketers.
The Team is well rounded and has relevant experience within the gaming and gambling industry to deliver. Additionally, FunFair has data, privacy, and cybersecurity lawyer. This creates confidence as there is some consumer protection in mind.
Their Q1 2020 update highlights their vision and progress.
FunFair uses fate channels to reduce mistrust between casinos and players. Fate channels are blockchain-based, random number generators that can be reviewed and audited by the player.
The use of fate channels puts certainty and confidence in the numbers generated and used by the games of chance.
Their development has also focused on speed using HTML5 frontend, WebGL technology, and bringing unique 3D casino games to the blockchain.
FunFair casinos work on both mobile devices and desktop computers. The speed of gameplay has always been an issue with online gambling for the casino and the player.
Their roadmap is impressive, and listing releases month after month. One concern relates to player authentication. Trulioo and Yoti are used for KYC, which in most cases will burn your Ethereum anonymous identity and would also show all your transactions and all your ERC20 token history if a person or group managed to get hold of this data.
Using FunFair will wreck the anonymity offered by blockchains but no more so than registering with a regulated exchange that asks for KYC data and funding the exchange from your primary wallet.
FunFair chose to build their platform on Ethereum. Ethereum smart contracts are decentralized and secure. They can be audited by either party, giving the player additional insight into the transparency and fairness of the games played.
FunFair uses FUN tokens for everything from betting to paying developers for FunFair games. All incoming and outgoing transactions on the FunFair platform are paid in FUN, and affiliates are also paid in FUN.
FunFair has developed its platform on the Ethereum blockchain, which does provide incredible distributed decentralized backend infrastructure. This choice has allowed the FunFair team to focus exclusively on its platform development.
Unfortunately, the Ethereum network has unresolved scalability problems. The Ethereum team is hard at work solving this problem, and many of the proposed solutions could work.
The major problem is that time might not be on their side, due to the crypto markets large and fast price swings to the upside.
The rise of DeFi could also exacerbate this problem quickly. People are willing to prioritize financial transactions over everything else on a blockchain network.
The Ethereum network could stop functioning as intended, forcing users to pay the fees associated with congestion. Bitcoins’ network is the perfect example of prioritized blockchain finance.
FunFair is an ERC20 token and can be deposited into wallets that support Ethereum assets, MyEtherWallet could be a good choice if the amount deposited is less than the cost of a hardware wallet.
Our preferred choice of wallets is either Ledger or Trezor. Hardware wallets offer far more security than traditional exchange wallets.
Funfairs partners include Spike Games, who are providers and developers of online games with twenty years of experience in the gaming business.
Big Wave Gaming developed and released Cho Han, which will be of particular interest in Japan, where this dice game has been a classic for centuries.
Rake the Rake has joined the affiliate program and has access to hundreds of thousands of potential players. CasinoFair and Crypto Casino both use the FunFair platform and are live.
Regulations and regulators
FunFair is a tier-one licensed B2B blockchain casino platform. Tier-one simply means the games are proven fair. Unlike other industries, laws don’t need to be passed for crypto gambling as the current framework works.
Most gambling sites and regulators already deal with foreign exchange, cryptocurrencies serve the same function and act as a foreign exchange transaction for gambling.
Gambling regulators’ primary interests are underage gambling, gambling addiction, fair gameplay, and casinos paying players. FunFair ticks all these boxes.
FunFair is up against numerous Canino’s, online casinos, dapps, and gaming platforms in the blockchain space. They are a blockchain market leader, currently with a reliable and usable product. The global gambling industry is valued at $500 billion.
Crypto Market Competitors
The FUN token is highly depressed, selling at their lowest levels, well below the inception price. This could be seen as a buying opportunity, but the market price needs to turn around.
FunFair’s mission of creating a fun, fair, and transparent gambling platform is well on its way. The project is signing up partners and further developing their gaming platform, considering players’ input.
A massive consideration with this project is, of the total $25 million raised, $10 million was in Ethereum, and $16 million was in Bitcoin, which was received from individuals and institutions.
Since the June 2017 ICO of FunFair, Ethereum has lost 46% of its value, Bitcoin has gained 186% of its value, and Funfair has lost 95% of its value.
This is a startling percentage, but in the world of crypto, this is not out of the ordinary. Many cryptocurrencies have lost 95% of their value and still rallied back to their all-time high values.
Proceeded to then gain hundreds and in some cases thousands of percent on their all-time high values
Notable investors in FunFair include Pantera Capital, KR1, Asymmetry Asset Management, BlockTower Capital, HyperChain Capital, Myriad Capital Management, Mutual Coin Capital, The Hive Index, and Astronaut Capital.
Our conservative FunFair price prediction, if cryptocurrency gambling, can capture 1% of the global gambling markets $500 billion. $5 billion would be up for grabs in a highly competitive crypto gambling sub-sector.
FunFair could easily take 20 – 40% of the market if they are still in development. With a total market cap of $1-2 Billion, we could see each coin return to $0.06 – $0.12. If cryptocurrencies experience a major bull run, the price could be much much higher.
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Jesus Cedeño is a certified doctor turned cryptocurrency expert, writer, and investor who lives in New York City. Jesús specializes in cryptocurrency product reviews, tutorials & technical analysis. Follow him on LinkedIn to stay up to date on his latest work on blockchain, decentralization and crypto investments.