Last Updated on September 10, 2024 by Olga
We recently had the pleasure of interviewing the FunToken team to discuss their journey, current challenges, and exciting plans for the future. As one of the original Ethereum projects that came to life during the 2017 ICO boom, FunToken is now evolving under new leadership. With a focus on Web3 gaming and DeFi, FunToken is poised to make significant strides in the industry.
In this interview, the FunToken team shares their thoughts on the project’s unique aspects, how they navigate market volatility, and the steps they are taking to increase liquidity for $FUN. They also highlight the importance of their partnerships, including collaboration with CoinRabbit, and the role of their diverse team in driving success.
1. How did the idea of creating Fun Token come about, and what is the main concept behind the project?
So FunToken is an OG Ethereum Project that initially came to light during the 2017 ICO craze. We as a leadership team have only come on board in the past six months to take over the project and give it a new strategic direction and impetus.
Fun Token is currently transitioning into a gaming studio with the first couple of games on the way. Namely a raffle to keep our community engaged whilst we release our NFT based games and our main product which will be our Fun HUB gaming browser. Which aims to be a one stop shop for Web3 Gaming (Both ours and others)
2. What makes Fun Token unique compared to other cryptocurrencies?
Honestly, age and stability. We are hoping to give it very strong fundamentals with our move into the Web3 Gaming and De-Fi Sectors. Also as it stands Fun Token and Fun Hub are now the Gaming arm of a large group of companies involved in everything from Web3 GambleFi to Traditional Media and everything in between.
3. What are the key achievements of the project so far?
A total refresh of the brand identity, a mountain of partnerships both realized and in the works and a couple of games in development. Not to mention, an entire new platform that should be released by the end of the year which we are all very excited about!
4. What challenges have you faced in creating and promoting Fun Token?
A couple of different challenges! Namely, market volatility, as with every Web3 project, is making the past couple of months an interesting time! That and regulatory uncertainty are a headache industry wide I imagine.
5. What initiatives are being taken to popularize Fun Token among a broader audience?
We have been making a huge push to connect with our existing community and make them aware of the changes and new strategic directions through our newsletter, AMA’s such as this, and quite a number of X spaces both our own and others. We are also actively engaging with new partner communities to increase awareness of the project. We are also making a lot of effort in all of these communication methods to involve the community both new and old via feedback and a collaborative process.
Our partnerships also help us expand and reach new communities, such as our partnership with CoinRabbit, which we are very pleased to be working with. They have imparted a lot of native knowledge and subtle differences that only an OG would have.
6. What steps are you taking to increase the liquidity of $FUN?
We have conducted a 360 review of the token, everything from supported networks, use cases, listings, etc. We are in the process of consolidating listings, and networks to deploy all of the liquidity we have to the listings and networks that our users actually use. This should come out as a big net positive to our users over the next couple of months.
Our Partnership with ChangeNow for example is also an important factor for our liquidity as it gives our users the option to shift into and out of fun token through a very wide range of tokens that would literally cost millions of dollars if we were to set up liquidity pools in the traditional manner.
7. What unique partnerships or collaborations are planned for the near future?
We are in the process of announcing some major new partnerships over the next couple of months but I wouldn’t want to steal the marketing team’s thunder!!!
8. How do you keep the team motivated in a highly competitive cryptocurrency market?
Our team is a unique mix of backgrounds, ethnicities, locations, and personalities. It helps that every one of us looks at things through a slightly different lens, having said that, it is a highly collaborative environment, which makes it FUN (Pun Intended!) and a pleasure to go to work. The magic mix and environment are the motivator!
9. What is your daily routine like, and how do you balance your work on the project with your personal life?
The biggest challenge with alot of Web3 is the distributed nature of our Industry. Hence the dreaded issue with time zones. I have been up to take meetings at 2am that ended past 3! It has its positives and negatives the flexibility is great but the nature of the work means there are no set working hours and hence you have to strive to introduce the balance yourself.
My daily routine usually starts at around 8am with breakfast, coffee, crypto news, and a look at the markets, that would be followed by emails, getting a read on our communities and partners and meetings (internal and external) with a little bit of research and strategic planning thrown in. I aim to be done for the day at 6 but sometimes the day will extend all the way to 11pm. Hence I try to fit in a gym or swim session everyday wherever the schedule permits. So pretty analogues to how most employees at any company operate I would think.
10. What has been the most unusual or interesting experience you’ve had while working on the project?
Definitely our first couple of spaces. I was shocked at the scale of community attendance. Thankfully I only realised how many people were listening well after the space was over. I’m generally a confident public speaker and have been doing it at conferences, board meetings, lectures, etc. for years but seeing 100K+ just hits different!
11. How do you handle pressure and stress in high-level positions?
Over time you develop coping mechanisms. I have been in C-Suite positions at various companies for the better part of the last 10 years. Over time you learn to try not to take it home with you. Experience also teaches you that most problems are solvable and its not the end of the world, hence you stay calmer, which makes it easier to solve problems. Last but not least, exercise!!! The best stress relief of all!
12. What role does the team play in your success, and what qualities do you consider key for the team?
Diversity, and a collaborative environment where discussion is easy!!!
13. What is the most important quality for a leader in the crypto industry?
Transparency and communication. Both to build trust with stakeholders, as the distributed nature of the industry makes it easier to hide for bad actors.
