The rise of GameFi has boosted the appeal of Initial Game Offering (IGO) among crypto investors. Tokens or NFTs for a blockchain game can be pre-purchased with IGO at an early stage of development.
What Is An Initial Game Offering (IGO)?
Users of Seedify can enjoy the same blockchain gaming experience as ICOs, IEOs, and IDOs. Seedify is a platform for launching initial token offers for blockchain games. As a result, IGO enables blockchain gaming project owners to take advantage of these benefits while also enabling investors to connect directly with and engage in the project.
The IGO’s mission is to raise money for the game’s further development, marketing, and distribution. These investments are made at an early stage, and there is no guarantee that the project will succeed or be completed.
Because of the growing popularity of blockchain-based gaming, IGOs are taking off. More than a million people regularly play games like Axie Infinity, Crypto Blades, and Alien Worlds. Over $1.1 billion has been sold thus far in 2021 for Axie Infinity. IGO launchpads like
- Gamestarter, and others.
In addition to yield farms and NFTs-based platforms, Enjinstarter also offers DeFi platforms and DeFi-based platforms for unique IGO projects. Developers can create communities and launch marketing campaigns for their games using Enjin’s Jumpnet platform.
How does an IGO work?
Blockchain gaming projects can raise money through an offering called an “Initial Game Offering” (IGO). An Initial Game Offering (IGO) is similar to an ICO in that it offers early access to the game’s in-game assets in exchange for funding the game’s development from an early stage. Characters, skins, weapons, and other materials are routinely provided by IGO. A large majority of the time, these are not optional third-party tools.
Some current IGO launchpads include Binance NFT, BSCPad, TrustSwap, and EnjinStarter. Investing in an IGO can be done in a variety of ways, but most launchpads need investors to buy the platform’s native token in order to participate. For example, in order to engage in IGOs on Binance NFT, investors must have a particular quantity of BNB in their Binance Wallet.
Tokens must be locked in a pool for a specified period of time once they have been acquired by participants. You’ll get the token or NFT based on how much you’ve locked, depending on the algorithm used to distribute it to you.
Using a subscription method, Binance NFT ensures that all participants have an equal chance of receiving the IGO’s NFT assets. Before trading in their purchased game token or NFT, players may be asked to retain it for a certain period of time or stake it.
How does IGO, ICO differ from IEO and IDO?
In the crypto realm, there are a variety of ways to raise money. Initial Coin Offering (ICO), Initial Exchange Offering (IEO) and Initial DEX Offering (IDO) are three popular ICOs. These forms of crowdsourcing have some commonalities, but also some major differences.
Tips for participating in IGOs
IGOs, like any other investment, come with no assurances as to whether or not they will be lucrative. You should always do your own research and weigh the pros and disadvantages of any IGO before deciding to join one.
Check the game’s website or social media for a development strategy or timeframe. Also, verify whether any well-known financial backers or partners are involved.
Conclusion: Final Thoughts!
IGOs are a great way to make money, but you’ll need to invest a significant amount of money in launchpad tokens to get started. Nonetheless, even with a much lower investment, you can still generate moderate income in a bullish market.
There are many advantages to investing in early-stage gaming initiatives (especially at the upper levels, where your investment is more considerable), including the possibility for growth and diversification. After all, even if the stock market crashes, people will not stop playing games.