More funds are usually needed to develop a blockchain game after it launches. Developers can use what is known as an initial game offering, which takes place on specialized platforms and allows would-be users to “invest” in the title and receive a small stake in return.
The process not only benefits the game developers; it’s also an investment opportunity. So, what is an initial game offering, and how does it work?
What Is an Initial Game Offering?
An initial game offering (IGO) is a process for raising capital for blockchain games. It gives gamers early access to games while helping developers raise more funds for the gaming project. In addition to the early access it grants, the project participants usually have access to in-game assets used to participate in the game.
What Is an IGO Launchpad?
A launchpad is a platform that helps investors discover and interact with (fundraising) projects in their early stages. An IGO launchpad is usually specific to early-stage blockchain gaming projects. Some launchpads focus only on games, while others may have games alongside other projects.
How an Initial Game Offering Works
An IGO is used to raise capital for blockchain games. It is similar to an initial coin offering (ICO), with the major difference being that an IGO focuses on games while an ICO is carried out for cryptocurrencies. These two processes help investors gain a foothold in a blockchain game as soon as it’s released.
As a result of supporting games at their developmental stages, IGO participants get early access to in-game assets like mystery boxes, weapons, characters, etc. These assets are Non-Fungible Tokens (NFTs) that are usually needed to access the game.
You can invest in a game at the lowest possible price by investing at the start. However, investing at an early stage also carries some risks as there is no guarantee that the project will be successful or even complete its actual full-public launch.
5 Popular Crypto Gaming Launchpads
Below is a list of the five best IGO platforms where you can access early blockchain gaming projects.
1. Binance NFT
Binance NFT lets you invest in in-game assets and NFTs from different gaming projects. The platform’s unique subscription mechanism gives all users equal opportunities to participate in IGOs. In addition, the system uses public and verifiable algorithmic selection to ensure fairness for all users.
To benefit from Binance NFT, you only have to log in to your Binance account, then open the Binance NFT tab. Then, from the Binance NFT homepage, you can choose an IGO banner representing an IGO you want to participate in. The participation process is usually in four stages: preparation, subscription, calculation, and distribution.
The all-inclusive Gamestarter ecosystem sets a new benchmark for funding Indie games through its IGO launchpad and NFT-based marketplace. In addition, Gamestarter also ventures into developing high-quality blockchain games.
The Ethereum-based GAME token powers the Gamestarter platform. When you have a GAME token, you can buy an NFT and other products anywhere on the platform. The platform also secures all IGOs with 300k USDT, which covers a failed IGO launch or team misconduct.
The Enjinstarter gaming launchpad focuses on growing the Enjin ecosystem and the metaverse. It allows creators to run campaigns to raise capital and build blockchain communities. The platform also supports projects in creating sustainable strategies and launching successful campaigns.
Enjinstarter has also built several projects, including the Pixelverse, an NFT metaverse for games; Project Defina, a blockchain game platform where you can play to earn; and Gaia Everworld, a fantasy game in which players explore lands and build kingdoms.
GameFi is a hub for blockchain games and metaverse projects. It is used to build digital communities and run virtual economies so the public can use them. Its solutions cover the entire game project’s lifecycle.
The platform has a ranking system: Legend, Pro, Elite, and Rookie, based on your $GAFI staking amount. The number of tokens allocated to each IGO pool are considered when determining individual allocations. GameFI members must reach at least the Rookie rank and complete KYC to join the IGO pools. However, this requirement is optional for those involved in community pools.
In addition to fundraising, Speedify also assists with marketing and community building for blockchain-game projects. For example, you can invest in a gaming project with SFUND, Speedify’s community token. The more you invest, the more weight you add to the pool. The reward system is a nine-tier program, where first-tier token distribution uses a lottery system, while the other tiers guarantee a share.
You can buy SFUND from exchanges like Pancakeswap and Kucoin. To participate in its IGO, you must use the same wallet you provided during the KYC process. If you use a centralized exchange, you must first transfer your tokens to other wallets like Metamask or Trustwallet to participate in its launchpad activities.
How To Participate in an IGO Launchpad
The processes involved in participating in an IGO launchpad aren’t complicated. However, the precise steps vary for different IGO launchpads.
Before committing to an IGO, you must do your research. There are many fake IGOs created to rob you of your hard-earned money, and crypto scams are rife throughout the whole crypto space. Check the gaming project’s website and social media channels to see if they state a clear roadmap for its development. Checking if reputable investors or partners participate in a project could also help.
Participating in an IGO involves identifying an IGO to invest in, connecting your wallet, buying the game or platform token, and then staking the amount you desire. The amount you stake usually determines the pool you belong to and your reward.
Remember, No Investment Can Guarantee a Return
As an investor, the main reason for buying an IGO is to be a part of the project from the developmental stage. Although the process involves many risks, initial investors may profit from the project if it is successful. On the other hand, if things go differently than expected, there is a strong likelihood that you will end up losing your money.
We understand that buying an IGO is risky, so we strongly suggest you choose your project carefully, evaluate your risk tolerance level, and seek guidance from a licensed financial advisor before investing in one.
This news is republished from another source. You can check the original article here.