GameFi’s success has increased interest among cryptocurrency holders for an IGO known as “Initial Game Offerings” (IGOs). With IGO, you can pre-purchase NFTs or tokens for a blockchain game before it is even released. Investment Game of Thrones (IGO) is a form of crowdfunding for blockchain and NFT-based games. At its core, IGOs make it easier for outside capital to enter the gaming sector. One way they do this is by giving players early access to the game’s tokens and assets. In addition, investors put money into gaming initiatives at IGO launchpads with the expectation of a high return once the project is listed on major crypto exchanges or gains traction in the expanding gaming community. The IGO launchpad development has opened up a new industry of IGOs.
What Is an Initial Game Offer?
Raising money for a blockchain game is known as an Initial Game Offering (IGO). Crowdfunding is a method by which video game creators can increase their budgets while providing early access to their games to eager players. In addition to the game’s early access, participants in the project usually also gain access to the game’s in-game assets.
IGO Launchpad: What is it?
The term “launchpad” refers to an online resource that connects potential investors with early-stage ventures for negotiation (fundraising). In most cases, only very new blockchain gaming projects can access an IGO launchpad. While some playgrounds are dedicated solely to games, others may also feature a variety of gaming-related projects.
What Is the Function of an IGO?
While helping to fund the game’s early development, IGO members will have early access to the game’s assets. Assets provided by IGOs frequently consist of mystery boxes, characters, skins, accessories, weapons, and so on. These are typically optional extras that increase the overall quality of the gaming experience.
Many IGO launchpads are available now, such as Binance NFT, BSCPad, TrustSwap, and EnjinStarter. To participate in an IGO, investors typically need to purchase the native token of the launchpad platform, though this varies from IGO to IGO. Like IGOs on Binance NFT, investors need a minimum amount of BNB in their Binance Wallet to participate.
Major Platforms for Crypto-Based Gaming that have Recently Gained Popularity
Binance NFT
In-game assets and NFTs from various gaming projects are available for investment on Binance NFT. Thanks to the platform’s innovative subscription system, all users have the same access to IGOs. The system employs a transparent algorithm for user selection, which can be independently verified.
To use Binance NFT, go to your account page and click on the Binance NFT tab. Then, on Binance NFT, click the banner of the IGO in which you are interested in joining. In most cases, four stages are involved in the participation process: planning, subscription, calculation, and distribution.
Gamestarter
With its IGO launchpad and NFT-based marketplace, Gamestarter has raised the bar for independent game funding. Gamestarter also dabbles in the creation of top-tier blockchain-based games.
The GAME token (issued on the Ethereum blockchain) is the fuel that drives the Gamestarter platform. GAME tokens can purchase anything sold on the GAME platform, including NFTs. All IGOs on the forum is protected against a failed launch or team misconduct with a 300,000 USDT hedge.
Seedify Fund
In the non-profit sector, Seedify is well-known. A group runs the autonomous launchpad with no central authority (DAO). The Seedify community is great for crypto gaming projects to get feedback on their game. In this way, well-received projects can get their feet wet financially.
If you want to participate in Seedify IGOs, you’ll need anywhere from 250 to 100,000 Seedify (SFUND) tokens. The Seedify pricing structure consists of nine tiers. For the lottery, see Tier 1. From Tier 2, launchpad-bound allocation into every IGO is guaranteed.
Guaranteed allocation, unlike lotteries, ensures investors access to a fixed percentage of the launchpad’s total projects at all times. This allocation is distributed proportionately based on the investor’s tier or level of investment.
Enjinstarter
Enjinstarter is a video game platform aiming to expand the Enjin community and the metaverse. It paves the way for creators to host campaigns to amass funds and form communities within the blockchain. The platform also supports projects in creating sustainable strategies and launching successful campaigns.
Gaia Everworld is a fantasy MMO where players can explore the world and build their kingdoms; the Pixelverse is an NFT metaverse for games; Project Defina is a blockchain game platform where you can play to earn; and so on.
GameFi
GameFi is the central hub for metaverse and blockchain gaming projects. It is used to build digital communities and drive virtual economies so the public can access them. Its solutions cover the entire game project lifecycle.
Users are given one of four titles based on their $GAFI staking amount (Legend, Pro, Elite, or Rookie). The number of tokens allocated to each IGO pool is considered when determining the individual allocation. Participation in the IGO pool is restricted to GameFI members who have attained at least the Rookie rank and have completed KYC. However, those who are part of the community pool are not required to do so.
Accelerate
Regarding blockchain-based gaming projects, Speedify isn’t just a fundraising platform; it also aids in marketing and community development. One use case for SFUND, Speedify’s community token, is funding a video game. One’s vote carries more significance in the pool as one’s investment increases. The first tier of the rewards system uses a lottery system to distribute tokens, while the remaining eight tiers each guarantee a share.
You can buy SFUND on exchanges like Pancakeswap and Kucoin. You must use the same wallet you registered with during Know Your Customer (KYC) verification to participate in his IGO. If you want to participate in Launchpad activities but use a centralized exchange, you will need to move your tokens to a different wallet, like Metamask or Trustwallet.
Trust Pad
Trust Pad is primarily an IDO launchpad but is also known as one of the safest multichain launchpads. Trust Pad is a platform that helps organizations raise capital from early-stage investors by leveraging DeFi instruments, which is great for the crypto gaming industry.
Lotteries, guaranteed allocations, and weighted entries all form Trust Pad’s nine tiers. Weighted access has more lottery tickets or a larger proportion of entries than the previous tier. Investment of at least 3,000 Trust Pad (TPAD) tokens is required.
Sharpen
In addition to helping blockchain-game projects raise money, Speedify provides marketing and community-building support. One use case for SFUND, Speedify’s community token, is funding a video game. The more money you put in, the more of a burden you become on the pool as a whole. The reward system is a nine-tier program, where the first tier uses a token distribution lottery system, while the other tiers guarantee one share.
Pancakeswap and Kucoin are two exchanges where you can purchase SFUND. Any user wishing to participate in its IGO must use the same wallet details supplied during the Know Your Customer (KYC) phase. To participate in Launchpad activities, users who store their tokens on a centralized exchange must first move them to a wallet service like MetaMask or TrustWallet.
Instructions for Joining IGO Launchpad
Registering for IGO Launchpad is not a difficult process. The specifics of this process, however, vary between iGO launchpads.
Do your homework before attempting an IGO. Many fake IGOs have been created to launder your money, and crypto scams are commonplace in the crypto space. You can see if the gaming project has a well-defined plan for its future by checking out its website and social media pages. In addition, verifying that the project has the backing of reputable investors and partners can be useful.
Locating an IGO to invest in, adding your wallet, buying game or platform tokens, and placing a wager of your choosing are necessary steps to take part in an IGO. The size of your stake typically establishes your position in the pool and the size of your payout.
Final thoughts
When it comes to funding their games, IGOs provide a novel alternative that makes use of blockchain technology. While IGOs offer investors a chance to back fledgling gaming projects, they also expose them to substantial financial risk. Before placing any financial bets, you should always do your homework.
