According to rankings website Dappradar, the most popular Ethereum-based gambling site is one based on a simulated ICO exit scam that gives players the chance to capitalise on others’ greed by judging when best to do a runner with the invested funds.
Fomo3D now attracts 500 users each day, almost double the amount of second-placed Zethr. Despite seeing lower volumes of Ethereum passing through their site than Zethr, dice2win and Etheroll, the number of absolute visitors has secured Fomo3D the top spot.
“Social Experiment in Greed”
Fomo3D’s own website promote it as a “psychological social experiment in greed” where the game replicates an ICO which drums up hype around its project which subsequently dries up.
Players use Ethereum to purchase access to private keys with the funds, in turn, contributing to the prize pot or “ICO fund.” Whilst there are rounds with smaller prizes within the game, if there are no purchases for 24 hours, the last buyer gets to “exit scam” and pocket all prior contributions.
Today’s running contract is currently worth 21799.4713 ETH – or about $6.5 million at today’s depressed Ethereum valuation.
The game has also inspired imitation versions, such as LastWinner, which are thought to be outright scams – instead of the last player pocketing the winners, all contributions are simply hoovered up and sent to an anonymous Ether address.