Through a series of companies, FreeBitco.in seeks to promote the adoption and mass use of FUN Token in the iGaming and Gaming spaces.
FreeBitco.in, one of the largest Bitcoin iGaming websites in the world, acquired the majority of FunFair’s remaining cold storage of FUN tokens, the native cryptocurrency of the FunFair gaming ecosystem. The cold room contains 4.45 billion FUN tokens and FreeBitco.in acquired 3.75 billion tokens.
Through this acquisition, FreeBitco.in plans to invest in the long-term development of the token.
“Since 2013, FreeBitco.in’s goal has always been to provide online gaming enthusiasts with a frictionless, seamless and truly fair experience,” said a statement from FreeBitco.in. “There is no better fit than the FUN token to help us dramatically improve our efforts.”
The FUN token
Since 2017, FunFair Technologies has strived to provide a guaranteed decentralized and fair gaming experience to the mass market through blockchain technology using the FUN token.
“Despite several industry firsts and milestones in demonstrating this use case, it recently became clear that FreeBitco.in has developed a different and superior use case for the FUN token,” said a statement released by FunFair.
This ad refers to FreeBitco.in’s Premium Membership Program; a feature that prompts FreeBitco.in users to buy and hold FUN tokens for significant benefits. This activity has resulted in considerable volume in the token economy without the burden of large chain transactions.
“There is no doubt that the clients of FreeBitco.in currently generate the bulk of the FUN token business rather than the clients of FunFair,” continued the statement.
“With this in mind and in order for the token economy to maintain its recent success, FunFair has agreed to sell the majority of its FUN token holdings to FreeBitco.in.”
FUN is an ERC20 token listed on the major exchanges Binance, BitFinex, HitBTC, Changelly, and OKEx, as well as decentralized exchanges like Uniswap.
FreeBitco.in’s vision for FUN
FreeBitco.in aspires to develop the FUN token as an independent entity through a series of upcoming projects.
“Our only goal, from now on, is to work to increase the utility and value of FUN,” says FreeBitco.in. “We are firmly committed to its long-term growth.”
Accordingly, FreeBitco.in is preparing to undertake the following initiatives:
- Strategic burning of tokens: FreeBitco.in plans to invest a substantial portion of its bottom line in the strategic acquisition and burning of FUN tokens to increase their value over time.
- Improved liquidity: FreeBitco.in works to increase FUN’s liquidity in all markets, thereby making it easily accessible and tradable. This is evidenced by a cumulative inflow of $ 3 million into the FUN / ETH and FUN / USDC trading pairs on Uniswap recently, with other exchanges expected to follow.
- New blockchain: Based on the Ethereum blockchain, FUN prides itself on being fast, open and secure. However, the growth of DeFi on Ethereum has been pushing gas prices up for many months, making the adoption of FUN too expensive for users. FreeBitco.in is actively exploring opportunities to port the FUN Token to a new, faster and cheaper blockchain.
- Dedicated portfolio: FreeBitco.in is working on creating a dedicated wallet for FUN users that can work seamlessly between different iGaming platforms. The wallet would also help users convert their FUN tokens into multiple crypto and fiat currencies.
- Proactive development: FreeBitco.in brings together a development team to create innovative consumer-facing apps based on the FUN token, creating more use cases, boosting utility and driving adoption.
- Create effective partnerships: FreeBitco.in seeks to build productive partnerships and affiliations with other iGaming entities to promote the identity of FUN as a transactional currency in online gaming.
Note: This is not a partnership between the two organizations, namely FreeBitco.in and FunFair Technologies. The aforementioned acquisition and business is at the sole discretion of FreeBitco.in.
Founded in 2013, FreeBitco.in is one of the largest crypto-gaming websites and the seventh largest online casino in the world (Source: SimilarWeb). FreeBitco.in was created to promote the usefulness of Bitcoin and facilitate its adoption. However, it has grown in leaps and bounds since then.
Powered by a proprietary fully automated technology stack, FreeBitco.in offers a simple yet powerful HI-LO dice game complemented by contests, rewards, jackpots and a popular Lamborghini giveaway.
With 41 million users, 52 million monthly visits and a betting volume of $ 600 million per year, its influence on the Bitcoin community is significant.
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