What is an Initial Game Offering (IGO)?
Initial game offerings are a funding method used by blockchain game developers. It is a token pre-sale as opposed to an Initial Coin Offering (ICO) as it focuses solely on crowdfunding. Video games industry. Prior to the public auction, investors will have access to game his tokens and in-game items at a discounted price. We offer game assets at low prices so that we can raise funds for the next stages, including game development, marketing, and more.
By making an initial investment, investors can purchase game assets at the lowest prices before the public auction, with even greater returns (5x to 50x) in the future. IGO is a completely new concept of crowdsourcing. blockchain A gaming space with the potential to advance crypto or NFT games.Crowdfunding approaches help provide proper exposure and adoption for new game concepts and projects Cryptocurrency Investor. In the past, many good ideas have been lost or overlooked due to lack of funding.
important point
Early game offerings are the strategies adopted by blockchain game development teams to raise funds for early stage games.
IGOs are similar to ICOs in that both are vehicles for raising funds for new projects.
The IGO Launchpad is made to showcase new game projects built on various blockchains such as Ethereum, Cardano and more.
How does IGO work?
An IGO is a way to raise money for a brand new blockchain gaming venture. IGO members get early access by buying in to in-game perks and game assets to support the early development stages of the game. Additionally, before the game is released to the public, these players will receive tokens designed for the game.
Skins, Weapons, Characters, Mystery Boxes, and Accessories are among the items offered in IGO. On the blockchain, these assets often exist as: Non-fungible token (NFTs). Playing or accessing the Game may require the use of some of the IGO’s resources.
Also read: What is an NFT derivative and how is it different from the original NFT?
Difference between IGO and ICO
Emerging cryptocurrency companies have the opportunity to analyze the market before releasing a particular product through an Initial Coin Offering (ICO). It also provides developers with the opportunity to raise funds to support and streamline the startup process.
An ICO is simply an IGO for emerging cryptocurrency organizations. From another angle, the IGO is essentially a video game platform ICO.
Despite sharing many similarities, IGOs and ICOs operate differently.
product
The items each of these two companies sell may be the most important difference. A typical ICO sells a product with very limited usability. IGO, on the other hand, offers digital goods compatible with the video game ecosystem.
investment return
ICO investors receive little or nothing in the way of early returns. On the contrary, the main purpose of offering an IGO is to give potential investors early access to reliable gaming assets so that they can expect to generate a substantial return on their investment.
Funding phase
Certain video games are often in the final stages of development before receiving funding from the IGO. But that’s not the case with ICOs. Instead, crypto organizations often release their products early to assess their viability and public opinion and interest.
Difference between IGO and IDO
Another popular funding method in the crypto gaming industry is the initial DEX offering or IDO. Like IGO, it will be used to facilitate upcoming blockchain projects. The IGO and IDO ranges are different from each other.
IDOs are decentralized exchange (Dex). However, at IGO, the investment is specifically aimed at creating blockchain games.
Tokens announced by IDO will be immediately listed on the issuer’s decentralized exchange. The project also guarantees instant token liquidity. However, it is important to note that IDO lacks a thorough and effective review process. As a result, it has a higher rate of substandard and fraudulent projects than the IGO.
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What is the Early Game Offering Launchpad?
The Initial Game Offering (IGO) Launchpad serves as a gathering place for investors and new game concepts. The IGO Launchpad helps develop entirely new blockchain game ideas in the early stages when funding is needed. Open to all investors, the fact that anyone can join his IGO launchpad is one of its greatest advantages. Game startups and game developers no longer need to approach VCs or meet with investors to secure the funding they need to complete their projects.
List your game tokens or in-game assets on the IGO launchpad to help your game startup raise funds. Depending on the Launchpad platform, investors can either stake their tokens or lock them into a pool. Game assets are offered to investors at the lowest price prior to the public auction. By using this technique, game startups can raise money and investors can make a big profit if the game is developed after the game is released. Before potential investors can participate in crowdfunding, projects must meet various requirements established by the Launchpad platform. The IGO Launchpad supports Ethereum, Cardanoothers.
Popular early game offering Launchpad
- Seedify Fund
- game phi
- trust pad
- game starter
- engine starter
How does IGO Launchpad work?
Gaming startups can use the Initial Game Offering (IGO) launchpad to sell game tokens or in-game items at discounted prices to raise funds for upcoming projects. Gaming startups can post their latest game projects on his IGO launchpad. Game projects will not be posted on the IGO Launchpad platform until all prerequisite information and paperwork have been completed.
Before investing, participants or investors can view upcoming game projects on the platform and learn all the details. Before the game is released to the public, participants can purchase in-game items such as skins, weapons, mystery boxes, and game tokens at discounted prices.
The value of these in-game assets increases over time, allowing investors to make significant profits as soon as the game goes live. The fact that it’s what you need to play or participate in the game is their biggest advantage. will have.
Also read: What is physical NFT?
Key features of our IGO Launchpad platform
- instant trading
- high liquidity
- viable
- Multi-chain compatibility
- know your customers
- Transparency
- Cross-chain compliance
- Multi-wallet support
Pros and Cons of IGO
Advantages of IGO
- No need to give up your shares
- Funding future games
- quick funding
- Take full control of your game
Cons of IGOs
- All or nothing method
- very rewarding
- risky
Things to consider before buying an IGO
launchpad platform
The launchpad platform is essential to the success of IGO. In addition to the amount previously raised and the length of time required for the project to receive funding on the platform, it is important to examine the platform’s history and success rate in launching the IGO.
the team behind the project
It would be helpful to know if the team has experience completing this type of project and their success rate is an important consideration. Investors will have confidence in a team with a proven track record of success.
community
Most of the well-known cryptocurrency projects have active communities supporting them. So if you’re considering buying an IGO, look for communities where you can find like-minded individuals who share your views on the project. Communities may take the form of discussion boards on social media sites.
Early investors and partners of the project
The initial investors and partners give a sense of the project’s potential for success. If early investors have a track record of funding profitable projects in the past, they are more likely to succeed in their current projects.
Conclusion
Blockchain IGOs have proven to be an effective way to fund projects, including cryptocurrency games. Plus, it could generate enough buzz to secure an audience before the game’s release. Video games in the IGO stage are usually found near completion.
This is due to dishonest developers in the past who used false advertising and inaccurate descriptions of their investments to mislead investors. As a result, the IGO business model is often met with a high level of distrust, despite the fact that developers also frequently release updates and refunds. IGO remains a viable and popular choice for developers looking to launch a project. The IGO market is expanding. IGO is launching more and more outstanding projects, gradually establishing itself as a mainstay in cryptocurrency and blockchain gaming.
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