Gambling apps more profitable than CryptoKitties as blockchain moneymaker

The success of CryptoKitties is mind-boggling. Upwards of tens of thousands of dollars have been spent on the blockchain-based version of card swapping, with one digital kitty going for more than $60,000. However, the real money to be made on the blockchain is through the introduction of gambling apps.

Fomo3D recently saw five times more users begin to use the app than currently seen by CryptoKitties—and that was just in 24 hours. Fomo3D is a gambling app that allows players to try and take other players’ money through a fictional initial coin offering (ICO). Since it was first launched last month, $40 million has been sent to the application.

Fomo3D isn’t alone. According to a recent report by DappRadar, the blockchain app tracking website, gambling is second of all distributed apps in terms of money received—the top spot is held by cryptocurrency exchanges.

Token sales for gambling-related enterprises have continued to increase, as seen by Dragon Coin and another ICO, which collectively raised almost $1 billion. As indicated by Autonomous Research, a total of 21 gambling projects have attracted $300 million via ICOs.