FUN is an Ethereum-based specialized digital currency for gambling. FunFair Technologies originated in 2017 and was founded by Jez San, a British entrepreneur. Initially, the company overlooked the concept of the FUN token, however, nowadays the cryptocurrency has become its own entity known as FUNToken. The FUNToken project is led by Adriaan Brink and Peter Stenslunde.
Since FUNToken is based on the Ethereum blockchain, users can fully utilize the smart contract technology. FUNToken’s own online casino, dPlay, initially, relied solely on FUN and did not accept any other assets. It is also completely anonymous and the only thing users need to do to start playing is have an Ethernet wallet. One could argue that digital money is ideal for gaming, as smart contract technology allows the customer to be confident in the integrity of the organization being used for gambling. The FUNToken platform also aims to tackle the issues that have surfaced in the online gambling industry, especially the lack of transparency and transaction accountability. FUN holders can also earn rewards such as cashback and additional interest on savings.
In 2021 FUNToken introduced a new asset into its ecosystem, XFUN. XFUN is a Layer-2 token based on the Polygon network. It has replaced the FUN token as the fuel of the dPlay casino, however, it also enhanced the usability of FUN.