What is the Initial Gaming Offer (IGO)?

An initial game offering is a funding method used by blockchain game developers. It is a token presale rather than an initial coin offering (ICO) because it only focuses on crowdfunding for the videogame industry. Prior to the public auction, investors have access to game tokens and game items at a reduced cost. Offering game assets for less is done so that money can be raised for the next stage, which could include game development, marketing, etc.

By investing early, investors can buy game assets before the public auction at the lowest price, earning significant returns (5x–50x) and even more in the future. IGO is a completely new concept for crowdsourcing in the block chain gaming space that has the potential to promote crypto or NFT gaming. The crowdfunding approach helps to give new game concepts and projects the right exposure and introduction to cryptocurrency investors In the past, lack of funding has forced many great ideas to die and go unnoticed.

key takeaways

An early game offering is a strategy employed by blockchain game development teams to raise money for an early stage game.

IGOs are similar to ICOs in that both are vehicles for raising capital for new projects.

IGO Launchpads are designed to feature new game projects built on various blockchains, including Ethereum, Cardano, and others.

How does an OIG work?

An IGO is a way to raise money for blockchain gaming startups. IGO members purchase and gain early access to in-game benefits and in-game resources to support a game’s early development stage. Also, before the game is made available to the general public, these players can receive the tokens designed for it.

Skins, weapons, characters, mystery boxes, and accessories are among the items on offer during an IGO. In the blockchain, these assets often exist as non-fungible tokens (NFT). In order to play or access the game, you may be required to use some of the IGO resources.

Also read: What are NFT derivatives? How are they different from the original NFT?

Difference Between OIG and ICO

Cryptocurrency startups have the opportunity to analyze the market before launching a particular product through an initial coin offering or ICO. They also give developers the opportunity to raise funds to support and streamline the go-live process.

An ICO is an IGO for emerging cryptocurrency organizations, in a nutshell. An IGO, when viewed from a different angle, is essentially an ICO platform for video games.

The ways in which an IGO and an ICO operate are different, even though they share many similarities:

The product

The item that each of these two companies sells may be the most significant distinction. A typical ICO markets a product with very limited usability. An IGO, on the other hand, offers digital goods that are compatible with the gaming ecosystem.

Return of investment

Investors in ICOs receive very little or nothing in the form of anticipated returns. Rather, the main goal of offering IGOs ​​is to give potential investors early access to gaming assets that they can trust and expect to generate a sizeable return on their investment.

financing phase

Before receiving funding from an IGO, a specific video game is often in its final stages of development. But with an ICO, that is not the case. Instead, to gauge the feasibility of the product and the opinion or interest of the general public, crypto organizations often release the product early.

Difference Between IGO and IDO

Another popular method of raising money in the crypto gaming industry is an initial DEX or IDO offering. It is used to promote upcoming blockchain projects, just like an IGO. The scope of IGO and IDO differ from each other.

An IDO is any project that is launched in a decentralized exchange (DEX). However, with an IGO, the investment is directed specifically towards creating a blockchain game.

Tokens announced by IDO are immediately listed on the decentralized exchange from which they were launched. The projects also guarantee instant token liquidity. However, it is important to note that an IDO lacks a thorough and effective review process. As a result, it has a higher percentage of substandard and fraudulent projects than an IGO.

Also read: NFT Avatars: Why are NFT Avatars so popular and what to expect in 2023?

What is the Games Initial Offer Launchpad?

Initial Game Offering (IGO) launch pads serve as a meeting place for investors and new game concepts. IGO Launchpad helps develop a new blockchain game idea when it is in its early stages and needs funding. The fact that anyone can participate in the IGO launch pad because it is open to all investors is one of its biggest advantages. A gaming startup or game developer no longer needs to approach venture capitalists or meet with investors to secure the funding needed to finish the project.

Listing game tokens or in-game assets with the IGO launchpad can help a game startup get funding. Depending on the Launchpad platform, investors can stake their tokens or lock them in a pool. Prior to the public auction, in-game assets are offered to investors at the lowest price. By using this technique, the gaming startup can raise money and investors can earn significantly if the game is developed after it is released. Before potential investors can participate in crowdfunding, a project must meet various requirements set by the pitch pad. IGO Launchpads are designed to feature new game projects built on various blockchains, including Ethereum, Cardanoand others.

Launch pad for popular initial game deals

• Seed Fund
• fi game
• TrustPad
• game launcher
• EnjinStarter

How does an IGO Launchpad work?

Game startups can use the Initial Game Offering (IGO) Launch Pad to sell game tokens or discounted game items to raise money for their next project. Game startups can list their newest game project with them on an IGO launch pad. A game project will not be listed on the IGO Launchpad until all prerequisite information and paperwork has been completed.

Before investing, participants or investors can see the next game project on the platform and find out all the details. Prior to the game’s release to the general public, participants can purchase in-game items such as skins, weapons, mystery boxes, or game tokens at a discounted price.

Investors can earn significant profits as soon as the game goes live because the value of these in-game assets increase over time. The fact that some of these in-game items are required for players to access or participate in the game is their biggest advantage. Consequently, if the games are popular in the future, investors will have huge profit potential.

Also read: What is physical NFT?

Key features of our IGO Launchpad platforms

• instant trade
• High Liquidity
• Feasible
• Multi-string support
• Know your customers
• Transparency
• Cross-chain compliance
• Multiple wallet support

OIG pros and cons

Advantages of an OIG

• There’s no need to give up fairness
• Funding future games
• fast financing
• Full control of your game

OIG Cons

• An all or nothing scheme
• A challenge
• Risky

Things to consider before buying an IGO

launch pad

For an IGO to be successful, the launch pad is essential. Along with the amount of money previously raised and the time required for the project to receive funding on the platform, it is important to examine the history and success rate of the platform in launching OIGs.

The team behind the project

It would be helpful to know if the team has any previous experience of undertaking projects of this nature and what their success rate has been, as this is a crucial consideration. Investors will have more confidence in a team that has a proven track record of success.

Community

Most of the well-known crypto projects have a thriving community that supports them. So, if you’re looking to buy IGO, look for a community where you can find like-minded people who share your perspective on the project. The community can take the form of a discussion forum on a social networking site.

Initial investors and partners in the project

You can get an idea of ​​the project’s likelihood of success by looking at the original investors and partners. Initial investors are more likely to succeed in the current project if they have a history of financing profitable projects in the past.

Conclution

Blockchain IGOs ​​show to be an effective way to raise money for projects involving cryptocurrency gaming. Also, they can build enough buzz before a game launches to guarantee an audience. A video game in its IGO stage is usually when it is almost finished.

This is partly due to rogue developers in the past who misled investors through false advertisements and inaccurate descriptions of their investments. Consequently, the IGO business model is frequently met with a high level of disbelief, even though the developers also release updates and refunds frequently. IGOs continue to be a appreciated and practical option for developers looking to launch a project. The OIG market is expanding. IGOs are increasingly launching high-caliber projects, gradually establishing themselves as a mainstay in cryptocurrency and blockchain gaming.

Also read: NFT Assets – How to store NFT assets online and offline; Quick guide for beginners