FunFair Q4 Update

This article was first published on News – FunFair

This summer has certainly been an interesting one for us at FunFair – moving to 100% remote working, witnessing the explosion of DeFi (and its associated memes), navigating the consequences of the increased network congestion and gas prices as a result; and also, more recently, managing some structural and personnel changes within the business.

Nonetheless, we remain in a very strong position, with a mature core product, an experienced and very capable team, and a healthy financial runway.

This update will cover both our existing casino platform, and the two additional areas that we are now focussing on with a broader remit – our games team, and the wallet that we built to support our platform.

We have also been having a number of wider internal and external conversations – we’ve been looking at DeFi as a whole (and we’re closely watching the launch of Ethereum 2.0 phase 0) and investigating whether or not we can bring something to that space – this is still on-going; nothing to report today.

Secondly, however, I’ve been delighted to see that (finally) a number of teams/projects are stepping up to solve Ethereum 1.0’s scalability challenges.  We, at FunFair, were one of, if not the first, to provide a Layer 2 solution on the Ethereum MainNet.  It was, however, fairly specific to our particular needs – and there are exciting, and much more generic solutions on the way or even live.

We hope this will provide a great opportunity for us across our business – scaling the core platform, allowing us to develop additional types of games, and, with our existing wallet technology, we are ideally placed to make the transition to a suitable Layer 2 platform a seamless user experience.  Our existing State Channels might even become the ...

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