During this keynote discussion Lloyd Purser, COO of FunFair Technologies delves deep into the importance of innovating the typical casino games
Starting out in 2017, Funfair has been pioneering the development of blockchain tech to deliver a world of decentralised entertainment through its Games, labs, and venture activities. The main idea behind the brand is change. Lloyd Purser, COO of FunFair Technologies discusses this with our engaged delegates during SiGMA Europe.
Single-player online gambling experiences that are passive do not cut it. Interactive games are not only anticipated but also essential. FunFair creates games that allow the bettors to choose what they want to gamble on, provide a sense of community, and interesting but simple play. Purser highlights the fact that it is about time that we try something different from the usual casino games we are used to. Platforms, features, marketing, games: all the same.
Watch the full keynote here:
When it comes to the game portfolio we see hundreds of gaming studios producing thousands of the same games on a yearly basis with the differentiation between these games being very little. Casinos are churning out the same content and the value of that content to the player is becoming more short-term than ever.
What we need is a new wave of multiplayer and more innovative content. The question we should all be asking is how to acquire new players or cross-sell players from other verticals into the casino-type games using a different style of content.
FunFair had a big community of crypto investors that had worked with them. The biggest question they all asked was when they will be doing crash games.
Crash games are pretty simple. In these games, a stake is multiplied by a line that keeps climbing up and up until it crashes. You are free to payout whenever you wish, even automatically, within this time period. You keep your profits if you payout before the random crash; otherwise, you lose your whole stake until the following round.
This is a multiplayer game where you easily see what everyone else is doing. It also has chat features and functions making conversation with other players easier. The original Bitcoin gambling game Bustabit is also a game consisting of an increasing curve that can crash anytime. Purser goes on to explain that this is a community-driven game where players not only bet with their money but can also stake the bankroll. All of the stakes for the bankroll are done by the players as well, with players able to earn money from staking themselves making this a true community game.
The staggering idea behind this game is that 850,000 Bitcoins have been gambled on this game since February 2018 as $14.5 billion on the average price of Bitcoin since that time.
The total number of USD that’s been gambled on this game since its inception is about $20 billion.
“Yes, it’s non KYC, it’s illegal and it’s global, but the mechanic here works the community element of this game that people want to play works and these are different players to average casino players.”
Purser says that these are the types of players that we want to try and bring into the regulated gambling market rather than be playing unregulated games. “We listened to our community, and we thought, we should take these mechanics, look at what we can do with the regulated gaming. We believe there are certain foundations to these games that are community-driven, they’re social and require active decision-making.”
This game automatically actively engages players, unlike slots where you can just set auto spin and let it play simply by waiting for the bonus.
Funfair hosted a streaming event where they witnessed streamers who were supposed to wrap up the event but kept playing, this shows how strong these types of multiplayer games can be in driving a community and driving excitement.
This game has a really straightforward concept and that’s what we’re looking for a simple game that is exciting and truly engaging. This is a different style of player that we’re trying to engage.
What FunFair is hoping to do is to bring new players like those from sports betting, to the casino industry, and really be able to drive new revenue streams by doing something different as they believe that games are better played together.
Asia Awards 2022:
The Asia Awards will be held during the first edition of SiGMA Asia. Alongside premier networking opportunities, the gala event brings together luminaries in the industry for an evening of recognition and celebration of achievement, attracting a guest list of over 300 esteemed individuals to its inaugural debut. Give recognition where it’s due by nominating someone whose work has created a positive impact on the industry. You can join us and witness the most intriguing and creative projects changing the face of the sphere. Book a seat at the Asia Awards by sending your request here.