A blockchain game’s development typically requires additional funding after its initial release. An initial game offering, which takes place on specialized platforms and enables potential users to “invest” in the title and receive a small stake in return, is a tool that developers can use. The procedure is advantageous for investors as well as game developers. Therefore, what exactly is an IGO Launchpad and how does it operate?
An initial game offering is what?
A method of raising money for blockchain games is an initial game offering (IGO). While assisting developers in raising more money for the game project, it gives players early access to games. The project participants typically have access to in-game resources needed to play the game in addition to the early access it grants.
An IGO Launchpad: What Is It?
A launchpad is a platform that makes early-stage (fundraising) projects easier for investors to find and engage with. A blockchain gaming project’s early stages are typically the focus of an IGO launchpad. Games may be included alongside other projects in some launchpads while they may not.
The Process of an Initial Game Offering
To raise money for blockchain games, an IGO is used. It is comparable to an initial coin offering (ICO), with the main distinction being that an ICO is conducted for cryptocurrencies while an IGO focuses on games. These two procedures enable investors to participate in blockchain games as soon as they are made available.
Participants in the IGO receive early access to in-game resources like mystery boxes, weapons, characters, etc. as a result of supporting games while they are still in the development stages. Non-Fungible Tokens (NFTs) are these assets, and they are typically required to access the game.
By making an initial investment, you can purchase a game at the most affordable price. However, there are risks associated with making an early investment because there is no assurance that the project will succeed or even reach its full public launch.
5 Popular Launchpads for Crypto Gaming
The top five IGO platforms where you can access pioneering blockchain gaming projects are listed below.
Binance NFT
You only need to log into your Binance account and then open the Binance NFT tab in order to take advantage of Binance NFT. You can then select an IGO banner for an IGO you want to take part in from the Binance NFT homepage. The four stages of the participation process are typically preparation, subscription, calculation, and distribution.
Gamestarter
Gamestarter makes forays into the creation of top-notch blockchain games. You can purchase an NFT and other items on the platform anywhere you have a GAME token. It is the platform covers any IGO failures or team felony near a 300k USDT insurance policy.
Enjinstarter
It enables creators to launch fundraising campaigns and establish blockchain communities. At this stage aids initiatives in growing long-term strategies and starting adequate campaigns.
Enjinstarter has also developed a number of projects, such as the Pixelverse, an NFT metaverse for games, Project Defina, a blockchain game platform where players can play to earn.
GameFi
Blockchain games and metaverse projects can be found at GameFi. In order for the general public to use them, it is used to create digital communities and manage virtual economies. The lifecycle of the game project is covered by its solutions.
Based on your $GAFI staking amount, the platform has a ranking system: Legend, Pro, Elite, and Rookie. When deciding on individual allocations, the number of tokens allotted to each IGO pool is taken into account. To join the IGO pools, GameFI members must at least reach the Rookie rank and finish KYC. However, participation in community pools is not required to meet this requirement.
Speedify
Speedify helps blockchain game projects with marketing and community building in addition to fundraising. For instance, you could use SFUND, the community token of Speedify, to fund a gaming project. You add more weight to the pool of investors the more you invest. The reward structure is a nine-tier programme, with the first tier using a lottery system for token distribution and the subsequent tiers guaranteeing a share.
You must use the same wallet that you provided for the KYC procedure in order to participate in its IGO. To take part in launchpad activities on a centralised exchange, you must first transfer your tokens to other wallets like Metamask or Trustwallet.
How to Take Part in IGO Launchpads
Participating in an IGO launchpad involves only a few simple steps. The specific procedures, however, differ for various IGO launchpads.
You must conduct research prior to joining an IGO. Scams involving cryptocurrency are rampant throughout the entire crypto space, and many fake IGOs have been created in an effort to steal your hard-earned money. See if there is a clear development roadmap stated on the game project’s website and social media channels. Checking to see if reputable partners or investors are involved in a project may also be beneficial.
To participate in an IGO, choose one to invest in, link your wallet, purchase the game or platform token, and then stake the desired amount. The pool you are a member of and your reward are typically determined by the amount you stake.
Keep in mind that no investment can ensure a profit.
The main motivation for an investor to purchase an IGO is to participate in the project from the outset. Despite the numerous risks, if the project is successful, the initial investors may profit. On the other hand, there is a good chance that you will end up losing your money if events don’t turn out as planned.
We are aware that purchasing an IGO is risky, so we strongly advise you to carefully select your project, assess your level of risk tolerance, and consult with a qualified financial advisor before making an investment.
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