Recently, the name FomoJackpot from DABANKING project has been mentioned by many people in the cryptocurrency world and even raised considerable controversies among groups as well as forums. Some people have questions that whether FomoJackpot has tricked players or not? To answer the question, aim to help people have an overview before participating, I wrote this analysis for your reference.
OK! Let’s start!
What is FomoJackpot?
FomoJackpot is a lottery program choosing randomly among participants to find the winner. Similar to the traditional lottery game, computer lottery or more famous one - Mega Millions - with amazing prizes up to 1.6 million dollars, FomoJackpot is also a lottery program. So, what makes Fomojackpot different from others?
FomoJackpot builds a lottery program through the combination of Smart Contracts on Ethereum’s blockchain platform to create a decentralized application (Dapp) with absolute security capability. With the operating mechanism on Blockchain platform, everything is completely transparent. The source code is open and run automatically, so no one has the right to interfere with the results. Even with public contracts, people can check information of transactions and database at anytime.
FomoJackpot’s rules are set up in an intelligent way, with different changes in each participating period, generating Fomo effects at all times, thus attracting a large community of users. In addition, prize mechanism is randomly chosen, there is no one who can interfere with it and there are many attractive awards waiting users. FomoJackpot creates a playing field which is fair and transparent as well as gives people opportunities to get big rewards in an easy way.
What benefit do FomoJackpot creators get?
Have you ever wondered, game developers invented a lot of games which are free for players, so what benefit they get? I believe many people have the same question, now I will help to answer it!
Do you know e-sport has become a potential billion-dollar industry and a market with great revenue?
When playing game, players always want their character to stand out from the others and quickly have stable position and you’re willing to pay for it. Therefore, you spend your money on clothes, houses, weapons and other stuffs for your character. This is really a great revenue source bringing huge profits to game developers.
Prize Pool :50%
Instant Income: 20%
Referral income: 17%
Dividends: 10%
New product development: 3%
In the structure of dividing proceeds from ticket sales, DABANKING spend 3% on developing new products. The more participants, the more chances to create new products. And of course, their target is not only developing the game FomoJackpot but also generating an entertainment platform including many other games.
When a large community - useful source with interesting games - is built, this will be the platform which brings opportunity to get huge and stable revenue.
FomoJackpot built on Blockchain’s Dapp (Decentralized Application)
Dapps are decentralized applications, created by the combination of smart contracts that run on the Utility Blockchain. It is the decentralized mechanism that makes FomoJackpot more special than other traditional games, or Fomo 3D - a game used to be run on Blockchain platform.
Dapps using open source code can operate automatically with no intermediaries, users’ information data is encrypted and not controlled by any individuals or organizations. Unlike other traditional centralized management system, Dapps have opened up a new era when users’ benefits are always respected.
Source code is open, which allows people to check information and contribute to the development of products in a free way.
Transaction information is always transparent and can be checked at any time.
Dapps help everything become extremely public and absolutely no fraud can happen
FomoJackpot builds system on AFFILIATE Model
Affiliate Marketing is a concept that emerged from 1990s, known as a popular model for developing system and promoting products as well as services. In the MMO world (Making Money Online, this notion is not too strange.
You can understand in a simple way as follows: When there is a new participant or a product as well as a service is purchased through referral link, you will get a sum of commission from it. Affiliate brings a good passive income to people who develop the system with very low or even zero cost. Besides, Affiliate Marketing also creates a community development network which is extremely effective.
Fomo Jackpot is one of the ecosystem games of DABANKING - the platform focusing on developing many games in entertainment field. Strong community is a key factor determining the success of the project, therefore FomoJackpot has spent a part of its revenue to pay for community developer. This is considered as a step with vision. A cost of about 17% to have a community for a platform with many games is not a big deal.
17% of revenue for a strong community and long-term development, this cost is completely worthy.
In conclusion
The cost of a ticket to participate is 0.002ETH, which is not too much, FomoJackpot does not make you invest a large expense or make you deposit to join. In addition, FomoJackpot is based on Blockchain with open Smart Contracts, which is more transparent and far better than current lottery games on the market, so there is no reason not to try it! Perhaps this is an opportunity that will make your life and everyone better
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