What Is an IGO (Initial Game Offering)? 5 Well-known Crypto IGO Launchpad

What Is an IGO (Initial Game Offering)? 5 Well-known Crypto IGO Launchpad

29 August 2022

Following the launch of a blockchain game, additional funds are usually required. Developers can use an initial game offering, which takes place on specialized platforms and allows potential users to “invest” in the title in exchange for a small stake. The process not only benefits game developers, but it also provides an investment opportunity. So, what exactly is an IGO Launchpad, and how does it function?

What Exactly Is an Initial Game Offering (IGO)?

The process of raising capital for blockchain games is known as an initial game offering (IGO). It gives gamers early access to games while also assisting developers in raising additional funds for the gaming project. In addition to the early access, project participants typically have access to in-game assets used to play the game.

What Exactly Is an IGO Launchpad?

A launchpad is a platform that allows investors to discover and interact with early-stage (fundraising) projects. An IGO launchpad is typically reserved for projects in the early stages of blockchain gaming. Some launchpads are solely dedicated to games, while others may include games alongside other projects.

What is an Initial Game Offering?

An IGO is a type of crowdfunding platform for blockchain games. It is similar to an initial coin offering (ICO), with the primary difference being that an IGO focuses on games, whereas an ICO focuses on cryptocurrencies. These two procedures assist investors in gaining a foothold in a blockchain game as soon as it is released.

IGO participants gain early access to in-game assets such as mystery boxes, weapons, and characters as a result of their support for games in their early stages. These assets are Non-Fungible Tokens (NFTs), which are typically required to play the game.

By investing at the beginning, you can get the best deal on a game. However, investing at an early stage carries some risks because there is no guarantee that the project will be successful or even reach its full public launch.

5 Well-known Crypto IGO Launchpad

The five best IGO platforms for early blockchain gaming projects are listed below.

1. NFT Binance

Binance NFT allows you to invest in in-game assets as well as NFTs from various gaming projects. Because of the platform’s unique subscription mechanism, all users have equal access to IGOs. Furthermore, to ensure fairness for all users, the system employs public and verifiable algorithmic selection.

To use Binance NFT, simply log in to your Binance account and navigate to the Binance NFT tab. Then, from the Binance NFT homepage, select an IGO banner representing an IGO in which you wish to participate. Preparation, subscription, calculation, and distribution are the four stages of the participation process.

2. Begin the game

Through its IGO launchpad and NFT-based marketplace, the all-encompassing Gamestarter ecosystem establishes a new standard for funding Indie games. Gamestarter also ventures into the development of high-quality blockchain games.

The Gamestarter platform is powered by the Ethereum-based GAME token. With a GAME token, you can purchase an NFT and other products on the platform. The platform also protects all IGOs with a $300,000 USDT insurance policy that covers a failed IGO launchpad or team misconduct.

3. Enjinstarter

The Enjinstarter gaming launchpad is dedicated to expanding the Enjin ecosystem and metaverse. It enables creators to launch crowdfunding campaigns and build blockchain communities. The platform also assists projects in developing long-term strategies and launching successful campaigns.

Enjinstarter has also created several projects, including the Pixelverse, an NFT metaverse for games; Project Defina, a blockchain game platform where you can earn money by playing; and Gaia Everworld, a fantasy game in which players explore lands and build kingdoms.

4. GameFi

GameFi serves as a platform for blockchain games and metaverse projects. It is used to create digital communities and virtual economies for public use. Its solutions cover the entire lifecycle of a game project.

The platform has a ranking system based on your $GAFI staking amount: Legend, Pro, Elite, and Rookie. When determining individual allocations, the number of tokens allocated to each IGO launchpad pool is taken into account. To join the IGO launchpad pools, GameFI members must reach the Rookie rank and complete KYC. This requirement, however, is optional for those who participate in community pools.

5. Speedify

Speedify helps blockchain-game projects with marketing and community building in addition to fundraising. For example, you can use SFUND, Speedify’s community token, to invest in a gaming project. The more money you put into it, the more weight you add to the pool. The reward system is a nine-tier programme, with the first tier using a lottery system to distribute tokens, while the other tiers guarantee a share.

SFUND can be purchased on exchanges such as Pancakeswap and Kucoin. You must use the same wallet you provided during the KYC process to participate in its IGO. To participate in its launchpad activities if you use a centralised exchange, you must first transfer your tokens to other wallets such as Metamask or Trustwallet.

How to Take Part in an IGO Launchpad

Participating in an IGO launchpad does not require any complicated procedures. However, the specific steps differ depending on the IGO launchpad.

You must conduct research before committing to an IGO. Many fake IGOs have been created to steal your hard-earned money, and crypto scams are common throughout the crypto space. Examine the website and social media channels of the gaming project to see if they provide a clear roadmap for its development. Checking to see if reputable investors or partners are involved in a project may also be beneficial.

Participating in an IGO entails selecting an IGO to invest in, connecting your wallet, purchasing the game or platform token, and then staking the desired amount. The pool you belong to and your reward are usually determined by the amount you stake.

Remember that no investment can guarantee a profit.

The main reason for purchasing an IGO as an investor is to be a part of the project from the beginning. Although the process is fraught with danger, early investors stand to profit if the project is successful. On the other hand, if things do not go as planned, there is a good chance that you will lose your money.

We understand that purchasing an IGO is risky, so we strongly advise you to carefully select your project, assess your risk tolerance level, and seek advice from a licensed financial advisor before investing in one.

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