Cryptocurrency casino FunFair Technologies has raised $26m in only four hours after token sale.
FunFair’s Phase 1 Token Presale started on June 22nd and was initially set to last for a maximum of 15 days, but closed after hitting its $10m hard cap of Ether cryptocurrency contributions.
The company also raised $15m in Bitcoin and other cryptocurrencies from individual contributors and contributions from investment firms including BlockTower Capital, Kryptonite1 and Pantera Capital.
FunFair is an Ethereum powered casino platform that offers its games to operators so they can create their own online casinos. FunFair offers complete transparency and no blockchain transaction fees, alongside high payouts and fair play across its portfolio of games.
Pantera Capital co-chief investment officer Joey Krug said, “Funfair will be one of the first practical applications to go live on Ethereum, and it actually solves a real problem of high casino fees and trust.”
Following this sale, the company will look to improve its technology and increase the number of games available including, Blackjack and Roulette. The company is set for a platform Alpha release later in the year.
The company plans to launch the second phase of its FUN token sale in September.
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