Place/Date: - February 26th, 2021 at 3:12 pm UTC · 4 min read
FreeBitco.in, one of the biggest Bitcoin iGaming websites in the world, has acquired the majority of FunFair’s remaining cold storage of FUN tokens, the native cryptocurrency of the FunFair gaming ecosystem. The cold storage holds 4.45 billion FUN Tokens and FreeBitco.in has acquired 3.75 billion tokens.
Through this acquisition, FreeBitco.in plans to invest in the token’s long-term development.
A statement by FreeBitco.in said:
“Since 2013, FreeBitco.in’s goal has always been to provide online gaming enthusiasts with a frictionless, transparent, and truly fair experience. There’s no better fit than the FUN token to help us significantly enhance our efforts.”
Since 2017, FunFair Technologies has been striving to deliver a guaranteed fair, decentralized gaming experience to the mass market through blockchain technology utilizing the FUN token.
A statement released by FunFair said:
“Despite several industry firsts and significant milestones in proving that use case, it has recently become apparent that FreeBitco.in has developed a different and superior use case for the FUN token.”
This announcement refers to FreeBitco.in’s Premium Membership Program; a feature that incentivizes FreeBitco.in users to buy and hold FUN tokens for significant benefits. This activity has driven considerable volume into the token economy without the burden of significant on-chain transactions.
The statement continued:
“There’s no doubt that FreeBitco.in’s customers are currently generating the bulk of FUN token commercial activity rather than FunFair’s customers.”
“With this in mind and for the token economy to maintain its recent success, FunFair has agreed to sell the majority of their FUN token holdings to FreeBitco.in.”
FUN is an ERC20 token listed on major exchanges Binance, BitFinex, HitBTC, Changelly, and OKEx, as well as decentralized exchanges like Uniswap.
FreeBitco.in aspires to grow the FUN token as an independent entity through a series of upcoming projects.
“Our sole objective, as of now, is to work to increase FUN’s utility and value. We’re thoroughly committed to its long-term growth.”
Accordingly, FreeBitco.in is preparing to undertake the following initiatives:
Note: This is not a partnership between the two organizations, namely FreeBitco.in and FunFair Technologies. The aforementioned acquisition and venture 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 Bitcoin’s utility and facilitate its adoption. However, it has grown by leaps and bounds since then.
Powered by a fully automated, proprietary tech-stack, FreeBitco.in features a simple but powerful HI-LO Dice Game supplemented by contests, rewards, jackpots, and a popular Lamborghini giveaway.
With 41 million users, 52 million monthly visits, and a $600 million-per-annum wagering volume, its influence on the Bitcoin community is significant.