People want to feel part of a group and to feel like they belong, which leads to a fear of losing their chance to be part of a group. When playing video games, people don’t want to feel like they’re losing their chance to be part of a group, which leads to video game addiction. When people associate their social identity with the video games they play, they worry that if they don’t play enough, they’ll be ostracized from the gaming community, which leads to a fear of losing their chance to be a committed member of a community.
In video games, FOMO is also used to describe similar anxiety caused by not being able to obtain in-game items or complete activities that are only available for a limited time (such as a battle pass). This is particularly common in multiplayer video games, where these items are cosmetic in nature but reflect the player's skill to other players in the game and can serve as a marker of social status within the gaming community; where failure to obtain limited cosmetic items can lead to social exclusion.
invest
Fear of missing out plays a big role in the cryptocurrency investment market. As more and more investors make huge amounts of money through cryptocurrencies, people may develop a fear of missing out (FOMO) as they look forward to the next coin that can make them rich quickly.
This phenomenon has led to the rise of “pump and dump” scams, where investors use the fear of missing out (FOMO) to drive up the price of cryptocurrencies and sell for a profit, while lower-level traders are unable to see the profit. This has also led to the use of robots in cryptocurrency trading, as the high volatility of the cryptocurrency market can cause profits to change quickly in twenty seconds. Pump and dumps are a legal gray area in cryptocurrency, so it is not illegal for influencers to use FOMO to manipulate individuals.
Investors do not want to miss out on potential stock gains because the market is currently in an uptrend as of February 2024. Because the market was previously at a low, people are afraid of missing out on the opportunity to make huge gains through stocks that are driving the market. Fear of missing out in investing does not apply evenly to different types of stocks, or even different brands in the conduit china same industry. For example, there is a difference between fear of missing out on Burberry and Prada stock, with Prada stock being seen as a better value and people being more likely to worry about missing out on the opportunity to buy that particular stock.