Design the coolest smart contract ever

Fomo3D was a dangerous game theory that was then applied, obfuscated, and raked in a sh#tton of cold, hard cash. Users would sign up for (link removed)/ and play the game. Their greed would ensure they always spent more than they lost in an auction that Harvard Business School teaches their pupils – it’s called a ‘War of Attrition.’ When offered the chance to bid on a $20 bill with $1, people will bid on it. The problem is this: the 2nd highest bid also has to pay whenever the winner is chosen. So, when the bid is $19 and the prize is $20, someone will surely bid to make a dollar. Now, when you’re the $18 bid you might lose your $18 if you don’t bid again – paying $20 for $20. If you win, you’re down $0. If you don’t bid, and lose now, you’re down $18. What’s the person with the $19 bid do? There’s been documented cases where the bidding reached a walloping $4000 – in a display of sheer ego. The loser was caught up in the ecstasy of playing the game. That’s exactly what Fomo3D did, except the winnings were divvied up in a very smart way that wasn’t previously available to the general public: using an underlying dividend-paying or burning token (forget which) they cleverly increased the token value or delivered payments for token holders when people played the game. This caused a huge social effort by token holders – and game players – to spread FOMO about the game around the internet. This would bring in new players and – occasionally – those who would even win or lose by ego, or win or lose because of the sheer thrill of the game. Learning all of this tonight for the first time, I did a brief Google on ‘dangerous game theory’ and was actually learning about game theory for the first time in my life. Now, this shit is fun. And profitable. I read about War of Attrition. What a beautiful concept. The wikipedia article linked to a few other sources: Chicken, another dangerous game theory, has a fancy theory name – but it’s still chicken. When one veers off they lose, when both collide they both lose. We’ll examine opportunities here at a later date, but I also came across another interesting concept. The successful bidder will be designing a foolproof Ether contract to employ a different game theory at a large scale.