One of the brains behind classic Nintendo game Star Fox is launching a blockchain-based online gambling service that could leave regulators stumped – and says he has raised $200,000 from the public to launch it.

Argonaut Software founder Jez San’s Funfair project aims to put online gambling onto blockchain, the technology solution desperately searching for a problem to solve.

It has spawned a number of spin-offs, including the version that San’s latest venture is built on, Ethereum.

This caused minor headlines late last week thanks to its exchange rate crashing from $319 to 10 cents after a single trade, though it later rebounded.

San, who helped create one of the first 3D graphics chips for gaming, says this transparency is implemented in the Funfair by using “smart contracts”, which are contained within the blockchain.

Using our tech – we think it’s a selling point, we can have a fairer game – it absolutely can’t cheat,” boasted San, who moved into angel investing once traditional computer gaming lost its lustre.

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