Because Gamefi is still a young platform, new games are being released on a daily basis. The best way to become involved with these new releases is to take part in Launchpad’s Initial game offering
Launchpad platforms are often used to coordinate Initial game offerings. Locking the platform’s native token for a certain amount of time is a common requirement for launchpad investments. Tokens or non-fungible tokens (NFTs) may be available to players before the game’s release, depending on the project. Decentralized exchanges and NFT markets may be able to trade tokens and NFTs obtained through IGOs outside of the gaming environment.
With the rise of blockchain gaming, IGOs are becoming the next big thing in the crypto space. Thousands of daily active users play games such as Axie Infinity (AXS), CryptoBlades (SKILL), and Alien Worlds (TLM). Axie Infinity is presently the market leader, having generated over $1.1 billion USD in revenue so far in 2021. While Axie Infinity has announced an initial coin offering (ICO) for $AXS on the Binance Launchpad, the game’s participants receive revenue largely via the Smooth Love Potion ($SLP) token.
$SLP are earned by completing daily missions, fighting against other players in multiplayer game, and combating monsters in adventure mode (PvE). Players may swap $SLP for fiat on platforms such as Binance, and users in the Philippines can immediately check the SLP to PHP conversion rate on CoinMarketCap.
What Is an Initial Game Offering (IGO)?
The Initial Game Offering (IGO) is a technique for raising funds for blockchain gaming enterprises. It’s comparable to an Initial Coin Offering (ICO), except instead of cryptocurrency tokens, IGO participants may get early access to in-game assets while also contributing to the game’s early development. Mystery boxes, characters, skins, accessories, weapons, and other goodies are often supplied by IGO. Most of the time, they are NFTs that are necessary to access or play the game.
How does an Initial Game Offering (IGO) work?
Investors may finance gaming projects on IGO launchpad with substantial returns after the projects are released on the crypto market. The ever-expanding blockchain gaming sector has made IGO a new major phenomenon. Initial Game Offering enables players to get project tokens as well as other unique perks such as discounts for freshly released games with exclusive access.
Initial Game Offering is fast fundraising If you have a fantastic offer and enough social media followers, IGO will promptly accept your capital. Also, IGO gives you control over your games and allows you to fundraise for many projects at once, which is great for building an audience.
After earning the necessary tokens, players must store them in a pool for a certain amount of time. They will then receive the project’s token or NFTs based on the number of tokens locked.
What is the Difference Between IGO, ICO, IEO, and IDO?
There are several fundraising methods in the crypto and Stock world. Some of the more popular ones are Initial Coin Offering (ICO), Initial Exchange Offering (IEO), and Initial DEX Offering (IDO). They are all similar methods of crowdfunding, but the difference among them is the way they operate.
Initial Dex Offering (IDO)
Initial Dex Offering (IDO) is a kind of initial coin offering (ICO) that takes place on a decentralized exchange (DEX). IDOs were designed to address the ICO and IEO models’ limitations. For instance, when the project’s token is launched on a DEX, projects often incur lower listing fees than IEOs. Additionally, IDOs provide quick token liquidity, allowing tokens to be listed virtually immediately following completion of the IDO.
However, since IDOs are listed on DEXes, they are not necessarily subjected to a thorough due diligence procedure. This may raise total risks, since certain IDO initiatives may be of lesser quality or have a dubious reputation. Additionally, you should be cautious of rug pulls, since many IDOs have been exposed as scam ventures that have stolen investors’ money.
Initial Coin Offering (ICO)
The initial coin offering (ICO) was the first method of crypto funding. It enables teams working on blockchain-based projects to raise cash using cryptocurrency. Ethereum pioneered the ICO technique in 2014 and it remained a highly popular way of financing until early 2018. Initial coin offerings (ICOs) may be an efficient approach for companies to raise capital during their early development phases. Learn more about ICOs in our post What Is an ICO (Initial Coin Offering)?
Initial Exchange Offering (IEO)
The primary distinction between an Initial Exchange Offering (IEO) and other offers is that an IEO is hosted by a cryptocurrency exchange rather than by the project’s team. Collaboration with renowned cryptocurrency exchanges may benefit both the project and its participants in the initial coin offering.
In most situations, projects must undergo a thorough vetting process before to being hosted on an exchange. Additionally, the project team behind the IEO may broaden its reach within the exchange’s user base. Binance Launchpad is a well-known example of an initial coin offering (IEO) platform.
Risks Involved in Initial Game Offering(IGO)
There are additional dangers to be aware of. One of the hazards is that a game may fail to get traction. The makers have grandiose ambitions, yet the game either doesn’t operate correctly or no one plays it.
Of course, it is also conceivable that it is a hoax, with individuals behind the game raising a lot of money with some pleasant tales before disappearing. This has occurred several times in the past with ICOs. Although it is impossible to predict whether an investment via an IGO will be profitable, you may mitigate risks as much as possible. This may be accomplished by thoroughly examining the project and how the IGO is arranged.
Few Tips for participating in Initial Game Offerings
- Before committing to any IGO, you should always DYOR and consider the potential risks.
- The launchpad is very important for the success of an IGO. Are there many projects here that are achieving their goal in crowdfunding? In how much time was a project able to achieve this?
- Whether your investment pays off, of course, strongly depends on how the project is put together. For example, does it have a good action plan with a clear roadmap?
- A community is also important. If there is already a large group of people who are thinking along and looking forward to the launch of a game, this has a better chance of success.
- Who are the people behind the game? Have they developed multiple projects and are they seasoned gamers who know what they are talking about?
- Who are the investors and partners of the project? It’s great if the project has big names on board among investors and partners. These are well-known funds, angel investors, platforms, and companies that also confirm their involvement.
Best IGO Launchpads For New GameFi Games
First and foremost, you may hunt for tasks on the internet. Getting a reliable Launchpad where you can access AAA Game Early access in-game assets can be difficult and with so-called launchpads, you may also discover fascinating initiatives.
These platforms listed Below help project developers’ IGOs. There are broad launchpads that make it easier to finance all types of blockchain ventures. Gamefi is one example of this. Here’s a list of a few of them:
Seedify
Seedify, like the IGO phenomena, is still in its infancy. Seedify was founded in 2021 and has already helped four successful non-profit organizations in the first six months. Aside from finance, the platform assists with marketing and community building for a blockchain gaming project.
You may invest in a project using SFUND, the Seedify platform’s token, via a pool. A tiered structure governs the reward for investing tokens. The higher your tier, the more SFUND tokens you have and the more weight you contribute to the pool.
Seedify currently features a 9-tier structure. Token distribution is done by a lottery mechanism in the first layer up to 250 SFUND. The other levels will ensure that you get a portion. Tier 6 allows you to participate in private rounds, which are private sales.
GameFi
GameFi is a specialized IGO launchpad with a plethora of materials to help games succeed. It was founded by a Vietnamese crew, the original folks behind the Red Kite launchpad’s success.
GameFi has so far launched 13 game projects on several blockchain networks, including Binance Smart Chain, Ethereum, Solana, and Polygon. In its ecosystem, GameFi has created initiatives such as Yield Guilds, Aggregator, Marketplace, and Accelerator.
GameFi is a specialized IGO launchpad with a plethora of materials to help games succeed. It was founded by a Vietnamese crew, the original folks behind the Red Kite launchpad’s success.
GameFi has so far launched 13 game projects on several blockchain networks, including Binance Smart Chain, Ethereum, Solana, and Polygon. In its ecosystem, GameFi has created initiatives such as Yield Guilds, Aggregator, Marketplace, and Accelerator.
Gamestarter
Gamestarter is an IGO launchpad specializing in NFT-based games. Gamestarter is regarded as one of the market’s most inventive layer-2 solutions. GAME, its native token, is already available on a number of major exchanges, including Gate.io, PancakeSwap, and Uniswap.
Enjin Starter
Enjin Starter focuses on DeFi and gaming. Everything revolves around an IGO. Enjin Starter began in May 2021. As a result, it is still under development at the time of writing. Surprisingly, it is a component of the Enjin platform, which is designed for the creation of blockchain games. Enjin Starter is a launchpad worth keeping an eye on since it already has a good reputation.
Binance NFT
For in-game stuff, virtual land, artwork, and other collectibles, Binance NFT is the biggest centralized NFT marketplace in the world. They also assist new games to get off the ground with their Launchpad.
How to participate in an Initial Game Offering on Binance NFT?
In-game assets and NFT collections from a wide variety of gaming projects may be obtained via IGOs on Binance NFT.
- To access the Binance NFT homepage, log in to your Binance account and go to the Binance NFT homepage. To participate in an IGO project, click on the banner for that project.
- You will be routed to the subscription page, which has more information about the project. To be eligible for participation, you must have a minimum amount of BNB.
- A Binance IGO is divided into four stages: preparation, subscription, calculation, and distribution.
Final Words
IGOs provide a new way for game developers to generate money for their games via the use of blockchain technology. Investing in early-stage gaming firms is a sensible strategy for investors, but Initial Game Offerings involve a lot of financial risks. Prior to risking any of your money, you should always do thorough research.
