The New Controversial Game ‘FOMO 3D’ Could Cause More Problems for Ethereum

The New Controversial Game ‘FOMO 3D’ Could Cause More Problems for Ethereum

Blockchain News
July 24, 2018 by Ian Moore
1471
  A new Ponzi-like game is plaguing Ethereum network, creating risks for the whole ecosystem. The game called FOMO 3D (Fear of missed opportunity) offers to buy a “key” (key’s price is growing constantly), which is a sort of a token. The purchased key adds 30 sec to a timer limited by 24 hours. If
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A new Ponzi-like game is plaguing Ethereum network, creating risks for the whole ecosystem.

The game called FOMO 3D (Fear of missed opportunity) offers to buy a “key” (key’s price is growing constantly), which is a sort of a token. The purchased key adds 30 sec to a timer limited by 24 hours. If the timer goes to zero, the user with the last purchased key receives the jackpot (currently 28,000 ETH). Part of the price paid for newcomers goes to those players who bought a key earlier.

You can purchase a key for 0.005 ether, but the price is growing, while the chances to win the prize are diminishing. The only reason to buy it is for dividends, which makes it very much alike classic Ponzi scheme.

The game apparently gained popularity recently after being advertised on 4chan and despite the obvious fact that nobody will really ever win the pot, that doesn’t propel many users from trying.

Currently, FOMO 3D generates about 25,000 transactions on the Ethereum network, which means it may become the next “CryptoKitties” and spam the network.

The Ethereum community has noted their concerns about potentials of the game to be used to spam the network.

“I’m almost certain that all of these types of games will become exploited during a hard fork or some other network issue.”  writes a Reddit user.

ETH/USD has seen a growth of 2% in the past 24 hours, currently sitting at the $478 levels. The top altcoin follows bitcoin which has gained over 6% in the past 24 hours and is testing levels of $8,000 for the first time since May 23.

 


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