Cryptocurrencies are used worldwide because of the ease of transactions digitally, and no government agency control. The public is free to do transactions after proper verification of the same. Fun token is a kind of cryptocurrency. You will come to know about it later, before which let us understand something about FunFair. Let us discuss the various aspects related to the fun token and its uses.
Funfair- What Is It?
It is an Ethereum related platform designed especially for online gaming apps. The areas of problems like low performance, operational costs being high, and user mistrust are handled by FunFair. It makes use of blockchain technology to solve all the problems that are mentioned. In short, how do FunFair works is discussed below
- You can feasibly get users and retain them with the help of the FunFair platform. Many users hesitate to download an app for the game since it takes a tremendous amount of time. FunFair offers a flexible option to users since it enters your name, age, ID, etc., through a FunPass.
- FunFair provides fate Channels to make communication between the owner and the players an easier process. You only need to interact with the Ethereum blockchain once at the beginning and then at the end lowering the operational cost of the game.
You also come across the term Fun Token in FunFair. We will discuss it further below.
What Is Funtoken?
A Fun Token is a token designed for Ethereum platforms only. Thus an ERC-20 token; used everywhere in the FunFair platform. All the payments that occur in the FunFair are dependent on this token. For the in-game credits, how the game creators receive payment in the market domain, issues regarding licensing and receiving revenues, etc., are handled by this token. They can be considered analogous to the money paid to play. There is a fixed amount of fun tokens been created in the year 2017. The company will create these tokens no more. Due to the increasing demand for it, you can witness an increase in its price value in the coming years.
With the information mentioned above about FunFair and Fun Tokens, it would be certainly clear what they are in simple words. Using Fun Tokens is a way of running blockchain technologies for the online gaming industry with ease and less operational costs and users’ time for registration before they start playing.