Fareplay (FARE)

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Overview

What is Fareplay?

Fareplay is a decentralized, on-chain crypto casino built for a world where games, odds, and payouts live entirely on the blockchain. Instead of depositing to a website, you connect a wallet and place wagers as on-chain transactions. Randomness is provable using Chainlink VRF, and the project’s native asset, the FARE token, is designed for a “mint on wins, burn on losses” model that mirrors how casino math works. In simple terms: the Fareplay blockchain approach brings transparency to gaming while aligning token mechanics with gameplay itself. (fareplay.io)

Key idea in one line

FARE isn’t just another chip; it’s a programmable game piece. Wins mint new FARE, losses burn FARE, and the house edge aims to make burning exceed minting over time. This design ties the eventual FARE price to real play activity, not just speculation. (fareprotocol.io)

Where Fareplay sits in Web3

Fareplay lives at the intersection of DeFi, NFTs, and gaming. It borrows DeFi building blocks (non-custodial wallets, smart contracts), uses NFT-style campaign badges/quests via platforms like Galxe, and offers provably fair games. That blend—Fareplay DeFi, NFTs, gaming—is what makes the project stand out for on-chain entertainment. (app.galxe.com)

History & Team

Origins and milestones

• 2023: The team published the “mint and burn” vision and the plan to run an interim USDC casino to build activity ahead of token launch. The model: mint FARE for wins and burn FARE for losses so the supply elastically adjusts with play. (fareplay.medium.com)
• 2023: FARE Protocol, the underlying architecture that powers probability contracts and the FAREVault, raised a $6.2 million seed round led by Goat Capital (associated with Twitch cofounder Justin Kan) and C Squared Ventures, with participation from 6th Man Ventures, Arrington Capital, Eniac Ventures, Morningstar Ventures, Spark Digital Capital, Quantstamp, and DWeb3. The team indicated an Arbitrum (Ethereum L2) launch for the ecosystem. (finance.yahoo.com)
• 2024: Season 1 of Fareplay Points rolled out, rewarding on-chain USDC gameplay and referrals ahead of the FARE TGE. (fareplay.medium.com)
• 2025: Fareplay joined a Galxe “Earndrop” campaign with a TGE-qualification quest, signaling progress toward the token generation event. (outposts.io)

Team and founder

Public appearances and founder interviews identify “Eren” as the founder of Fareplay, including a Blocmates podcast episode focused on the TGE and the decentralized casino model. The project otherwise keeps a lean, product-first profile, characteristic of crypto-native teams that ship early and iterate. (listennotes.com)

Technology & How It Works

The Fareplay blockchain stack

Fareplay is built on smart contracts and uses probability contracts provided by FARE Protocol. Developers can deploy games permissionlessly using the FAREVault contract. The system is designed so that over many plays, expected value is negative for players—what a casino calls the “house edge”—and the token economy reflects that edge through mint/burn logic. (fareprotocol.io)

Verifiable randomness with Chainlink VRF

To make outcomes provably fair, games rely on Chainlink VRF. VRF generates tamper-proof random numbers and provides on-chain proofs that anyone can verify—important for dice, coin flips, and similar games. This is the industry-standard method for trust-minimized randomness across Web3 gaming. (chain.link)

Current gameplay flow

Before FARE launches widely, users can play with USDC and earn “FARE Points,” which are designed to convert into an airdrop once the token is live. The platform keeps every wager on-chain and does not take custody. Points also accrue through referrals, quests, and leaderboards, helping bootstrap early usage. (fareplay.io)

Network and deployment

Public communications around the ecosystem reference Arbitrum (an Ethereum Layer 2) for launch because it offers lower fees and fast settlement while inheriting Ethereum security. That makes it a natural home for an on-chain casino that processes many transactions. (finance.yahoo.com)

Tokenomics & Utility

Elastic supply: mint on wins, burn on losses

Fareplay tokenomics are simple to understand:

• If a player wins a FARE-denominated bet, the smart contracts mint the player’s winnings.
• If a player loses, the wagered FARE gets burned.
  Because the house edge is negative expected value for players, burn should probabilistically exceed mint over time, making FARE a deflationary asset in aggregate. This is the essence of Fareplay tokenomics. (fareprotocol.io)

Why this design matters

The mechanism links eventual FARE price dynamics to real usage. More play means more minting and burning; the net effect depends on game volume and the edge. In theory, as long as burn outpaces mint, total supply trends down, reinforcing the conceptual role of FARE holders as “the house.” (fareprotocol.io)

Utility inside the ecosystem

• Unit of play: FARE is designed to become the native chip for on-chain games.
• Alignment: Token holders benefit from deflationary pressure when the network of games sees sustained play.
• Builder platform: Third-party developers can build FARE-native games using FAREVault, expanding the catalog and utility surface area over time. (fareprotocol.io)

Points and airdrops

Until the FARE token goes live, Fareplay issues FARE Points for activity. These points are designed to convert into FARE via airdrop after TGE. The Kills/Deaths/Assists points system balances wins, losses, and referrals to spread allocation beyond just whales. (fareplay.medium.com)

Ecosystem & Use Cases

Core use cases today

• Provably fair on-chain casino games: dice, coin flips, and similar probability games with visible odds and verifiable randomness.
• Non-custodial gaming: you keep assets in your wallet; every bet and payout occurs through smart contracts.
• Loyalty and quests: quests and “OAT/NFT” campaign badges through platforms like Galxe, which help onboard users and track engagement on-chain. (fareplay.io)

For developers

Because FARE Protocol provides the probability contracts and FAREVault, builders can launch their own games without managing a bankroll. This reduces operational overhead for studios that want to plug into a shared token economy and leverage the same, standard randomness pipeline. (fareprotocol.io)

Beyond casinos: Fareplay DeFi, NFTs, gaming

• DeFi: users transact directly from wallets, and the token model is engineered at the contract level.
• NFTs: campaign OATs and event NFTs can reward discovery and loyalty, making on-chain identity and achievements portable across apps.
• Gaming: combining VRF with low-fee L2 execution enables many quick plays, a must for a smooth casino UX. (app.galxe.com)

Advantages & Challenges

Advantages

• On-chain transparency: wagers, outcomes, and randomness proofs are all verifiable. (fareplay.io)
• Self-custody: no centralized deposit; you control funds end to end. (fareplay.io)
• Token-model alignment: the mint/burn design aligns FARE supply with the house edge, creating a native economic sink/source tied to play. (fareprotocol.io)
• Builder platform: FAREVault lets developers deploy games permissionlessly, potentially compounding network effects. (fareprotocol.io)

Challenges

• Token not yet broadly live: the project has run a points phase and TGE quests; widespread token availability follows its token generation roadmap. (fareplay.medium.com)
• Competitive landscape: many Web3 casinos and on-chain games compete for attention; execution and partnerships will matter.
• Throughput and UX: even on L2s, gas and wallet UX can affect casual players; continual UX work is key.
• Ecosystem dependence: the model benefits most when many games and builders plug into FAREVault.

Where to Buy & Wallets

Where to buy FARE

If you’re wondering where to buy FARE, keep an eye on official Fareplay channels and the Fareplay app for the contract address and listing details when the TGE concludes. Communications in 2025 included a Galxe Earndrop campaign with a TGE quest; that’s the best signal to monitor for the go-live sequence. Once live, FARE would likely trade on Arbitrum-based DEXs and possibly centralized exchanges depending on integrations. Always verify the contract via official links before swapping. (outposts.io)

Wallet setup basics

• Use an EVM-compatible wallet (e.g., MetaMask, Rabby, Coinbase Wallet) and add the Arbitrum network.
• Bridge ETH to Arbitrum for gas and trading; the official Arbitrum bridge docs walk through the process step by step. (docs.arbitrum.io)
• After TGE, import the verified FARE contract to your wallet to see balances and transact on the Fareplay blockchain stack.

Storage options

• Software wallets for frequent play and questing.
• Hardware wallets (via MetaMask or similar connectors) for long-term storage once the token is transferable on Arbitrum. Arbitrum works with standard Ethereum addresses, so hardware + EVM wallets generally integrate smoothly. (docs.arbitrum.io)

Regulatory & Compliance

Fareplay regulatory status

Fareplay operates as a non-custodial, on-chain casino application. The official website and app emphasize self-custody and verifiable randomness but do not advertise a traditional online gambling license. Regulatory treatment of blockchain casinos varies across jurisdictions and can depend on where users or operators are located, how access is gated, and whether fiat ramps or KYC modules are integrated. As of the latest public materials, Fareplay presents itself as a crypto-native, smart-contract platform rather than a licensed, custodial casino operator. (fareplay.io)

Fareplay halal and Shariah considerations

Crypto investors sometimes ask whether FARE is shariah compliant. There is no public Shariah certification for Fareplay or the FARE token on the project’s official channels. Because the core activity is gambling, many Islamic finance frameworks categorize such activity under maysir (gambling), which is generally prohibited in Shariah-compliant finance. Users specifically seeking a Fareplay halal designation should note that maysir is a foundational prohibition in Islamic finance literature and that no formal fatwa or certification for Fareplay has been announced as of October 2025. (fareplay.io)

Data handling and fairness

Game outcomes use Chainlink VRF, which provides cryptographic proofs and on-chain verification, a practice aligned with transparency expectations in regulated environments, though it is a technical control rather than a jurisdictional license. (chain.link)

Future Outlook

What to watch

• TGE and distribution: Galxe’s Earndrop partner post (March 2025) flagged a TGE quest. When the token is live, Fareplay tokenomics will move from “points-to-airdrop” to real-time mint/burn dynamics. (outposts.io)
• Builder growth: More third-party games deployed on FAREVault can deepen utility and daily on-chain activity. (fareprotocol.io)
• Arbitrum ecosystem tailwinds: Lower fees and a large developer base make Arbitrum a strong venue for rapid-fire gaming. Expect user experience upgrades as wallets and bridges continue to improve. (finance.yahoo.com)

Long-term thesis

If the network effect of games, quests, and loyalty loops compounds, FARE’s elastic supply could become a distinctive economic layer for on-chain gaming. In that scenario, the FARE price would reflect not only market sentiment but also aggregate gameplay and the probabilistic burn that comes with it.

Summary

Fareplay brings casinos onto the blockchain with self-custody, verifiable randomness, and a token model that mirrors real-world house math. The FARE token is designed to mint on wins and burn on losses, making “burn > mint” the core of Fareplay tokenomics. Backed by a 2023 seed round and building toward a token generation event, the project has used USDC gameplay and FARE Points to bootstrap early adoption. For users, the pitch is clear: games and odds you can audit on-chain; for builders, a permissionless platform to launch games that plug into the same token economy. While there’s no public Shariah certification and regulatory treatment varies by jurisdiction, the technical foundations—FAREVault, on-chain wagers, and Chainlink VRF—set a transparent baseline for DeFi-era gaming. Watch this space as the team moves from points and quests to a full FARE-powered ecosystem on Arbitrum. (finance.yahoo.com)