What is Funfair?

Funfair uses the ethereum technology to provide blockchain solutions for the gaming industry. Their emphasis is on providing transparency, cost-effectiveness, and fairness in the gaming space.

These are virtues that broadly lack in the industry. The team behind this project comprises of individuals with a proven track record in the entertainment space and a combined 40 years solid experience in creating and selling gaming solutions.

Together they have placed the gaming industry on the ethereum blockchain. Funfair has created the first series of 3D games as proof of concept and as a model that other developers can emulate.

The games built on the Funfair platform run directly on the browser; this means that a user will not require downloading any app to game. Player onboarding usually arises when this is not taken into consideration.

Ultimately, the plan is not for Funfair to create all the games, but to inspire thousands of online casinos to be launched on its platform.

This platform has the options for creating fully customizable games as well as the traditional ones such as roulette, blackjack, baccarat and slots. Operators using this platform can set up and host their private label casinos with customized standard and VIP rooms.

Once created, it takes just two clicks to publish the full casino suite in a live environment. These are some of the unique features of Funfair:

1. Developer Friendly

This platform is created with game developers in mind. It uses a simple coding language and the platform has even gone ahead to develop model games from which other developers can emulate.

2. ENS-Ready

FunFair allows investors to create gaming-related .eth domains such as blackjack.eth.

3. Instant and frictionless Gaming

Frictionless gaming is an elusive feature in many blockchain based gaming solutions. It is quite frustrating to have to wait for transactions to confirm or for multiple blocks to be mined. Funfair platform allows for instant transactions to be made due to the technology behind it. We shall look at this in depth later. But this affords the user a frictionless gaming experience.

4. Signup and KYC

“Every 100ms of Latency Costs Amazon 1% of Profit.” It is with this in mind that Funfair has created a time-saving solution where the customer sign up process takes less than half a minute. Very little information is required from the customer.

5. Putting Social First

Gaming is a social experience and the FunFair platform has been designed with this in mind. They have created an interactive platform and an affiliate program where operators can grant affiliate revenue to social players to incentivize them to invite friends.

6. HTML Only

The browser-based gaming platform utilizes HTML5 on both mobile devices and desktop computers. This provides a rich 3D experience that is highly polished and has a great user experience.

7. Funfair Token – FUN

The FUN token is what drives the Funfair platform. It is used for: purchasing in-game credits for playing the casino games, paying game creators and paying licensing fees. FUN can also be staked for returns. All FUN token was created in the genesis block and no subsequent tokens will ever be created.

It is expected that the value of FUN will increase as the customer base for games running on the FunFair platform grows. However, this should not result in FunFair-licensed casino games becoming more expensive to play.

What Problem Does Funfair Solve?

By 2015, global gaming revenues were about $400 billion with Asia dominating the space.  About 10% of these revenues were generated in the online space.

As much as this is not huge, many would- be gamers have been deterred from online gaming due to the lack of transparency and fairness in the system. There have been recent cases of manipulation resulting in daylight defrauding of gamers.

This industry has been plagued with two key issues; lack of trust and unsustainable competition.

1. The Trust Issue

Online gaming has been predominantly dominated by monopolies which offer no transparency or fairness to the unsuspecting gambler. This has been a deterrent for many would be gamers. This has led to the large-scale preference of brick and mortar casinos which have some form of regulation. Inefficiency in the system further pushes the cost of gaming higher and higher.

Specifically, the Funfair blockchain based platform enables provably fair and streamlined currency deposit and withdrawals. It is not plagued by the declining speeds and increasing transaction costs that have affected other blockchain based casinos.

 Current Competition is Unsustainable

Current statistics indicate that transaction costs across ethereum based platforms range between $1 to play a single hand of blackjack and $.75 to place a bet on dice games.

Staking an individual bet ranges between $1-$10. At these rates, the transaction costs can overwhelm the value of the bet making it unfeasible to bet on small amounts.

This is further complicated by the volatility of ETH prices. With these increasing costs of transactions, more and more would be gamers are turned away from the industry.

An appropriate solution would address the cost of transacting on the ethereum blockchain and the fluctuating price of the transacting currency.

The blockchain is a trustless, transparent and decentralized system that can unlock the true potential of this industry.

Funfair is based on the ethereum blockchain and this is the basis for a trustless gaming system. Games built on this platform are provably fair, transparent and publicly auditable. With luck still a prerequisite of gaming, players start off with odds not oddly stacked against them.

How does Funfair Solve the problem?

Funfair is an ethereum based platform and carries in it all the intrinsic features of the ethereum network; a decentralized, transparent and trustless network.

Unfortunately, the ethereum network is prone to congestion leading to increased transaction times and consequent high fees charged to users.

This, in the long run, is not sustainable. Funfair has created different technologies to circumvent these problems which we shall be looking at below.

1. Fate channels

This is a state channel created on the ethereum blockchain that runs for the duration of a gaming session. It supports the communication between the client and the server. It operates separately from the main blockchain but still carries the properties of the main blockchain. How this works is this; during a gambling session all the transactions are recorded separately on an escrow. At the end of the game the funds are released through a smart contract and the chain connects back to the main chain. All the transactions happening during a game are doing so on a customized side chain. By having these transactions on a side chain, Funfair is able to speed up the process of verifying transactions and the cost consequently goes lower.

These improvements on the Funfair technology enable it to achieve its core objective which is to be a provably fair, decentralized, fast and flexible gaming platform. Gaming costs need to be cost effective to allow sustainable gaming experiences for users as a single gaming session can include hundred of bets.

2. Serverless Operations

FunFair is a serverless, employeeless and peer to peer platform that is resilient and cheap to maintain. This is attractive to gaming operators as this drives down the overhead costs significantly. As we all know, costs eventually are passed on to the player and the cost of making bets in this case is pushed further up.

What makes Funfair better than its competitors?

1. Decentralization

Fun Fair is an open source platform that is completely decentralized. In addition to this, Funfair incorporates Fate channels technology to ensure that games are provably fair, transparent and cost-effective.

2. Great User Experience

Speed has been a great deterrent for many would be online gamers. Having to wait for block confirmations makes the experience frustrating for players in the least. High costs of transactions per bet further worsen the user experience.

With the Funfair serveless system and use of fate channels all these concerns are a thing of the past.

3.   FunFair License

With the Funfair licence, casino operators can set up their own customizable casino suites. Players can have a wide variety of games to choose from with the full benefits afforded by the Funfair platform. Operators can also launch traditional games such as blackjack, slots, and roulette on the platform. Other superior features of this platform include:

• High quality 3D games built in HTML5
• Ability to publish online casinos for operators in just two clicks
• 10 times cheaper per bet than other platforms (gas costs)
• Completely server less and decentralized platform
• Uses an open architecture that can be shared by other developers

How can Funfair be categorized?

Funfair is a gambling platform, it is also an exchange platform that allows for the development and execution of smart contracts. It is also a cryptocurrency- FUN

Funfair and Security?

Funfair shows a clear cut commitment to enhancing security and transparency in its architecture. Being based on the ethereum blockchain, it carries all the cryptographically sound security features inherent in the ethereum blockchain.

Funfair is a transparent and auditable network. More than this, they employ the use of State channels to further ensure the security of transactions. With state channels, the bulk of transactions during a game are completely off- chain.

Only the opening and closing transactions on the fate channel are broadcast on-chain. The side chains use strong cryptography to validate transactions which cannot be refuted. Funfair combines state channels and reverse hash chains to ensure the fairness of games. These methods make cheating almost impossible. Should one party detect cheating, the transaction is run on- chain for verification, with the main-chain acting as a mediator of sorts. This system ensures the validity of transactions prevents double spending and creates security.

Examples of Funfair use cases / applications.

Funfair has many potential applications in the gaming industry. These are a few examples of how some companies are already using the Funfair platform.

1. Online gaming

Many would be gamers have been deterred from online gaming because of the lack of fairness and transparency in the system. Others have also been to self conscious to openly visit brick and mortar casinos. Abigail is an example of a gamer who tried out online gaming on the Funfair platform and is now hooked because of how fair and transparent the network is. Very little personal information is required and players do not even have to download the app. It is easy to play directly from any smart phone also and the transaction costs are negligible.

2. Publisher with a Big Readership

Bionic Publishing is another customer of Funfair. They have been able to create a fully-customized casino designed to appeal to Bionic

readers specifically. They also plan on rolling out annual gaming events, celebrity and sports endorsements, and co-marketing tie-ins in the future.

3. The Nonprofit

Courageous Critters is a nonprofit organization that finds homes for unwanted cats and dogs. Recently, they decided to try out an online fundraiser centered on licensing a casino experience through the FunFair blockchain platform. Their model is a pet-themed online casino based on ethereum smart contracts. This has not only created a stable revenue stream for the non- profit but it has also brought together seasoned players and new supporters for the program.

Placing the gaming industry on the blockchain was definitely a step in the right direction for this high-value industry. This tackles the issue of transparency and decentralization spot on! What Funfair has done is to come in and seal the remaining loopholes in this system using state of the art Fate channels. With this, the issue of prolonged block confirmation times and unpredictable transactions costs are addressed, making the system fairly foolproof. It’s no guarantee whether Funfair will have large-scale adoption in the casino market, time will tell. But should the market warm up to them considerably, gamers will be the ultimate beneficiaries; with transaction costs at the bare minimum and the games being provably fair, the odds will not be stacked against them.

What is SingularDTV?

SingularDTV is a blockchain company that offers solutions in entertainment technology. Their business model is a tokenized ecosystem that links entertainers with their consumers while bypassing the numerous intermediaries that include recording labels and talent management companies.

This ecosystem comprises of musicians, artists, filmmakers and other artisan performers, their fan base, and SingularDTV.

By placing the entertainment industry on the blockchain, SingularDTV creates a peer to peer, transparent and decentralized platform that eliminates the traditional funding barriers and distribution intermediaries.

Their goal is to create a decentralized entertainment industry and transform how we produce and consume entertainment.

SingularDTV offices are based in Zurich, New York, San Juan, Los Angeles, Tokyo and Hong Kong.

The original founders are Zach LeBeau (CEO) and Kim Jackson (President of Entertainment). They were later joined by Joseph Lubin, co-creator of Ethereum and Arie Levy Cohen, formerly of Morgan Stanley. This makes a quite experienced team.

SingularDTV operates under a CODE governance structure which is a crowd-funded entity. In this model, equity is shared between token holders but they neither take part in the decision-making process nor the development of the platform.

The CODE has two components; one is centralized while the other is decentralized. The decentralized part of the CODE is based on the Ethereum blockchain as an executable Smart contract.

The token (SNGLS) represents the intellectual property accrued from the projects run by SingularDTV. The centralized aspect, on the other hand, represents company structures which are responsible for the management of funds and projects run by SingularDTV.

They also have a suite of applications that are already running on the platform. The brand defining application, which is in the first wave of a series of applications that will be deployed, is Tokit.

The first wave is primarily concerned with the development and funding of projects, the second wave includes applications that are auxiliary to the first wave while the last wave includes applications concerned with the distribution of these entertainment projects globally.

What Is Tokit SingularDTV?

Launched in November of 2017, this revolutionary application forms the core of SingularDTV projects. It is the platform that allows other projects to be developed and launched on SingularDTV. Tokit allows users to create and customize projects and grow their audiences from scratch. Once complete, the projects are moved to a different application for distribution. Ethervision is the application that is concerned with the distributor functions of SingularDTV.

How Does Tokit Work?

This platform allows the different parties to create, launch and manage intellectual property in a transparent and decentralized way. It operates on a token system. While it has its own native token, users can also create their own tokens on the platform which represent the intellectual properties of their projects.

Tokit is also a crowdfunding platform. The Tokit launchpad allows users to create and launch their own digital tokens. However, the Tokit launchpad uses a different fundraising model that is committed to exchanging value.

When investors contribute money for a project, they are given tokens which represent intellectual property value in exchange, this generates revenue stream that is linked to the creator’s intellectual property.

Tokit is the platform where users can launch their projects, the Tokit launchpad is a crowdfunding platform where users can fundraise for their projects.

SingularDTV allows artists to interact with their fans in a symbiotic fashion that excludes intermediaries. This relationship allows artists to receive full economic value for their creative work and earn from it over a long period of time.

The fans get to select which projects to support and which to shoot down, when they rally behind a project the value of that project increases commensurately and this in turn creates a steady flow of income from that project.

The tokens in this system represent the intellectual property of the artist. Fans can use their tokens to pay for content on the platform. In addition, when fans spread word around about a certain project and they get others on board, the value of the token goes up.

Fans holding that token will benefit as the value of that token goes up. In other words, the more the community grows, the  more each fan stands to gain.

What problem does SingularDTV solve?

The case of artist- record label relationship gone sour keeps repeating itself time and again. This can inhibit the creative potential of artists and even cause them to leave the industry for “greener pastures” elsewhere.

The cancer of this industry is the presence of exploitative gatekeepers who not only determine what content gets to the fans but also at what frequency and rates. The artist is relegated to the sidelines as the middleman takes center stage.

This means that the artist has absolutely no reins over the revenue stream from their intellectual property. The system created by intermediaries’ works in this way:

Exploitative contracts with record labels

These are deals that are signed between artists and record labels or management companies. The record label will usually spot untapped talent and approach the artist to sign a promotional deal with them. The artist being eager to get whatever help they can usually gets enticed by a seemingly lucrative financial bonus or a surreptitious deal. So they jump at the offer.

After this, the artist basically becomes the underdog of the record label with absolutely no control over their intellectual property.

The record label will take over the life of the artist in a bid to recoup all the money spent on the artist. They will be pushed harder and harder to produce more and more.

Worse still, they earn less in comparison to the revenue generated by their hard work. In most cases, the artist succumbs after years of hard work with nothing to show for it, as the record label laughs all the way to the bank. And the story keeps repeating itself time and again.

SingularDTV exists to address this exploitation and allow both the artists and their fans to reap maximum rewards.

They have created a system that has done away with the need for record labels, management companies and other intermediaries who handle the management and distribution of intellectual property.

They have created a suite of applications to handle each step of the process and connect the artist directly to their community of supporters.

How does SingularDTV Solve the problem?

SingularDTV takes back power from the hands of the middlemen and hands it over, back to the artist.

Songwriters and musicians who launch their music on SingularDTV’s platform have full control over their music and the revenue that it generates.

Fundraising for a project on the Tokit platform tokenizes the intellectual property and their fans can support any piece of work that they choose to and consequently it increases in value.

This also creates a feedback mechanism by which the artist can hear back from their fans and respond with what the fans like.

Currently, record labels have fully taken over the image of the artist so much so that even tweets, social media posts and even public appearances are stage managed. There is no genuine connection between artists and their fans. SingularDTV has created a dozen applications to address this problem.

TOKIT

As mentioned above, Tokit is a dynamic application that allows users to create their projects on the blockchain. Tokit.io launched in November 9, 2017 and has managed to generate a lot of revenue so far through some of its groundbreaking projects some of which include films and songs.

By allowing them to launch their projects on the blockchain which is a decentralized platform, the role of intermediaries is eliminated.

Through the Tokit launch pad, artists can fundraise and tokenize their intellectual property, giving them full control over the project and the revenue stream it generates.

SINGULARX

SingularDTV has a decentralized exchange known as SingularX. It is on this exchange that tokens created through Tokit can be traded. So far, tokens exchanged on the platform include ETH, SNGLS, SNGX, and CENNZ. With more and more projects being launched on Tokit this exchange is set to get busier and more engaged. SingularX is a partnership with Studio Centrality, which is a blockchain company based in New Zealand.

SingularDTV utilizes Web3 technology to transform the entertainment industry landscape. It equips artists with the power to create, fundraise and manage their intellectual properties while bypassing the middleman (agencies, distributors and record labels). In the long run this will create a sustainable entertainment scene where artists and creators of art get their days due as they rightfully deserve.

What makes SingularDTV better than its competitors?

SingularDTV competitors include all the traditional companies that manage the entertainment industry. Netflix is one good example. Unlike Netflix, SingularDTV is highly scalable and adaptable.

For example, SingularDTV will allow African artists to create and launch African music while it will allow Chinese artists to create and launch Chinese content on the same blockchain.

Netflix on the hand has limitations when it comes to adaptability, which in turn affects its scaling potential.

SingularDTV is also able to circumvent government regulations specific to the country of registration. It is a decentralized and borderless platform that is not held back by traditional rules that cripple the growth of the entertainment industry.

SingularDTV has also created a model where entertainment content can be tokenized. By tokenizing say a film, it can be sustained in the long run by the community of supporters who buy its token.

Fans will need to buy the token to watch the film or buy tickets to watch consequent episodes or to download it, the more the fan base grows the more revenues will be generated and this will create sustainability for that project. Fans can also earn from the film by holding onto their tokens as they appreciate in value.  SingularDTV will be focusing various projects around this model in the future.

How can SingularDTV be categorized?

SingularDTV is a digital entertainment blockchain platform; it is also a decentralized exchange with its own unique cryptocurrencies.

SingularDTV’s vision on security?

Security is paramount for any blockchain project. As much as the blockchain itself has inherent security features, incidences such as the DAO attack have made it necessary to impose extra diligence in reinforcing security on the blockchain.

So aside from cryptographical techniques, SingularDTV is secured further by an auditing mechanism called The Guard. This ensures that all transactions are legitimate and that the Smart contract system has no flaws.

SingularDTV further offers a 30BTC bug bounty.

Examples of SingularDTV use cases / applications.

SingularDTV will have a use case similar to what Netflix and Youtube are doing now. It will give consumers the ability to select content that appeals to them and by listening to it; they will be increasing the value of its token.

Fortunately, with this model, the whole process will be decentralized and transparent giving maximum benefits to the artists and their fans. Tokit is the first application to be launched on the platform. It allows users to create projects on the platform which can then be published in a live environment through Ethervision.

The Tokit launchpad is a platform that allows users to fundraise for their projects and create tokens for the intellectual properties.

There is also a codex that deals in research and design of the tokenized ecosystem. SingularDTV has a legal repository that regulates the projects created in the ecosystem. So far, Tokit is the most popular.

A company called Gramatik has tokenized on the Tokit platform. Tokit is also launching a documentary film called “The Trust Machine” by award-winning filmmaker Alex Winter.

This film is about the history of blockchain technology and how it has eveolved over time across the globe.

Happy worker is another narrative that will be created on the Tokit platform that will be directed by Duwayne Dunham and executive-produced by David Lynch

SingularDTV is a one of its kind blockchain project that is set to transform the entertainment landscape in many ways. With a rock solid team behind it that is moving fast, it hopes to streamline the production and distribution of artistic content and redirect back the revenue streams to the artists. At the end of the day, they are the rise and fall of the industry.