Over 18 months since it’s release, Arbitrum is getting the attention many of its supporters have been looking for: the high-speed, low-fee, Layer-2 Ethereum rollup network has overtaken Binance Smart Chain (BSC) in terms of daily volume. After performing neck-and-neck for much of 2023, it would appear that Arbitrum has peeled off a decent percentage of the popular centralized-decentralized network’s userbase. In other words, BSC users are feeling the fear of missing out (FOMO) on Arbitrum, which couldn’t come at a better time for the developers of the token PoSH4D (P4D) and its game component, FOMO3D: Arbitrum.
Despite quietly launching PoSH4D (P4D) on February 21st, word of the token’s release—and anticipation of the upcoming game—spread like a virus among the Arbitrum community, driving the marketcap of P4D to $350k within the first 24 hours. Why such a demand for a token with so little fanfare? Well, the project is a direct homage to the original Ethereum game FOMO3D, and if trends continue and the team can continue to deliver on their promises (so far they’ve touted their staking platform for token-holders), FOMO3D Arbitrum could become the biggest Web3 game of 2023.
“Time is a Flat Circle”
The original FOMO3D was released in mid-2018, during a downturn in the cryptocurrency market: Bitcoin’s price had plunged by a third from the beginning of the year, selloffs worsened in the face of massive exchange hacks, rampant initial coin offering (ICO) scams, and rumors of incoming government regulations. However, while many in the community were overcome with doom and gloom, developers of Team JUST couldn’t help but laugh at the absurdity. FOMO3D was created as a satirical game based on the cutthroat environment that marked the 2018 “crypto winter:” the game billed itself as an “exit scam”–much like the aforementioned ICO schemes–where players purchased “private keys”–a reference to the hacked wallets that ruined several crypto exchanges that year. The game was a massive success, and the winner of the first round walked away with 10k ETH, (now valued at $17 million dollars). Given the tumultuous last year for the crypto market, it should come as no surprise that, half a decade later, in another uncertain market, the game’s themes still resonate with developers and investors alike.
“DeFi, DeFi Never Changes”
“There’s so many examples: Do Kwon and Terra Luna, bridge hacks like Ronin and Wormhole, and of course SBF [Sam Bankman-Fried] and FTX,” said a spokesman for FOMO3D Arbitrum, rattling off the names of some the worst offenders in crypto of 2022 like a list of MVP athletes. “Hopefully the crypto winter put a freeze on newcomers trying to fleece the space, but in the meantime, we just want to get people’s blood pumping again, and we think Arbitrum is the perfect place for a project like this.” The spokesman opined, referring to the rollup’s adjacency to the gargantuan amounts of liquidity held on Ethereum, as well as the low cost and high speed of transactions.
“Doing a revival of FOMO3D on Ethereum is impossible nowadays: even with the Merge upgrade, gas costs still regularly hit $80 per transaction and transactions can take minutes to go through, you can’t run a blockchain game like that.” Though the game is no longer on Ethereum, the developers did include a nod to the upgrades to the network, “the original was called ‘proof of weak hands,’ a play off the acronym for proof-of-work; as a nod to Ethereum moving to proof-of-stake, our revival is ‘proof of strong hands.’ Besides, if you’re still holding crypto after last year, you’ve gotta have strong hands, just how strong our community’s hands are will have to wait until the game comes out this weekend.”
P4D CA: 0xEFc43Cf79f406D62960e34d3a62c729a0EEbEC4b
P4D Chart: https://dexscreener.com/arbitrum/0xf4037ae51505d3c1f8f03f2916cd52136f0968b3
P4D Staking/FOMO3D dApp preview: https://dapp.fomo3darb.com/
This press release was originally published on this site