What Is FUN Token? From FunFair Coin to FUNToken

Summary: FUN is an Ethereum token launched in 2017 by FunFair Technologies as the chip for its blockchain casino platform. FunFair's casino operations stopped in 2020, and in 2021 the gaming site FreeBitco.in bought most of the remaining token supply. The same token now trades as FUNToken, used for wagers and rewards on a handful of gambling sites, with a Polygon version called XFUN. It is a high-risk token tied to online gambling, so it deserves extra caution.

• FunFair coin and FUNToken are the same ERC-20 token; only the name and team changed.
• FUN is used as a betting and rewards currency on crypto gambling platforms.
• XFUN is a 1:1 companion token on Polygon with lower fees.
• Gambling tokens depend heavily on a few platforms, which adds risk beyond normal crypto volatility.

What Was FunFair?

FunFair Technologies was founded in 2017 by gaming entrepreneur Jez San with Jeremy Longley and Oliver Hopton. Its token presale raised about $26 million in a few hours, during the peak of the ICO boom.

The idea was to fix trust problems in online casinos. FunFair built licensed casino software on Ethereum where game outcomes could be checked, and used state channels, which it called Fate Channels, so players didn't wait for a block on every bet. FUN was the chip: players wagered it, casinos paid winnings in it, and operators used it to run their sites.

From FunFair Coin to FUNToken

FunFair's casino platform never reached wide adoption, and its operations wound down in late 2020 amid regulatory pressure. In February 2021, the crypto gaming site FreeBitco.in bought most of FunFair's remaining token treasury, and a new team took over the project under the name FUNToken.

The token contract never changed, so anyone still holding the original FunFair coin holds FUNToken. There was no swap or migration.

How FUN Token Works Today

• Network: FUN is an ERC-20 token on Ethereum, so moving it costs Ethereum gas.
• XFUN: a companion token on Polygon, bridged from FUN at a 1:1 rate, which makes small wagers cheaper.
• Use: wagers, rewards and in-game items on casino, dice and sports betting sites built around the token.
• Burns: the team says part of its revenue is used to buy and burn FUN, which reduces supply over time.

Unlike coins such as Bitcoin or Ether, FUN doesn't secure its own blockchain. Its value depends almost entirely on whether people use the platforms that accept it.

Risks of the Funfair Coin

Tokens tied to gambling carry risks that most crypto games share and then some. FUN's demand is concentrated in a small group of sites, so the failure of one can hit the token hard. FreeBitco.in, its biggest backer, reportedly stopped processing many withdrawals in 2025 and announced a shutdown, leaving some users unable to move their FUN.

• Legality: online gambling is restricted or banned in many countries, and crypto casinos are often unlicensed where you live.
• Custody: tokens left on a gambling site belong to the site until you withdraw them.
• Price: FUN trades far below its 2018 peak and can swing sharply on low volume.
• Wellbeing: gambling with crypto is still gambling. Set limits and step away if it stops being fun.

How to Store FUN Safely

Because FUN is a standard ERC-20 token, any Ethereum wallet can hold it. For anything beyond small amounts, move it off gambling sites and exchanges into a wallet you control. A hardware wallet such as Tangem keeps the keys offline; if you use XFUN, make sure your wallet is set to the Polygon network.

Protect your accounts too. Use unique passwords and two-factor authentication, and a VPN like IceVPN on public Wi-Fi. A VPN secures your connection but doesn't change which gambling laws apply to you, so don't use one to get around local rules.

What to Weigh Before Buying FUN

FUN is one of the oldest gambling tokens still trading, and its story shows how much these projects depend on the platforms behind them. If you're curious, start small, keep your tokens in your own wallet and check the legal position where you live. If what you really want is to spend crypto on games, there are simpler routes than a gambling token.

One of them is to browse gaming gift cards you can buy with crypto.