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What is the definition of an Initial Game Offering (IGO)?

IPOs, or Initial Public Offerings, is a term that is well-known by all. In exchange for money, companies seek to raise capital to offer investors a portion of the company’s ownership.

Even though IPOs and ICOs may sound similar, they are fundamentally different. ICO, or Initial Coin Offering, has garnered considerable appeal in cryptocurrency. In an ICO, teams produce tokens to sell to early backers in exchange for capital that can be used to fund the project’s development.

Initial Game Offering is the new buzzword, which, along with the coins, provides investors with early access to gaming assets, thereby aiding in the funding of projects.

How does an IGO function?

Initial Game Offerings or IGOs function similarly to ICOs and are utilized by projects to raise capital. IGOs can give early access to in-game assets in addition to selling cryptocurrency tokens. These assets are primarily consumable non-game-related items, such as weapon skins and accessory items.

Participants also have the option of choosing for an initial Asset Offering, in which case, instead of purchasing a token, they would receive early access to buy a vital game asset, such as a weapon.

How are IGO, ICO, IDO, and IEO Different?

As previously mentioned, Initial Coin Offering (ICO) is one of the first strategies utilized in the crypto realm to acquire funding for a business. Here, investors receive tokens in exchange for providing funding for initiatives.

Initial Public Offering

Initial Exchange Offerings, also known as IEOs, differ from conventional offerings in that they are housed on a cryptocurrency exchange. Generally, it is advantageous for both the projects and the investors, as the projects must undergo thorough evaluations and inspections by the business before being listed. This gives investors assurance while making their investment somewhat hazardous, improving the project’s prospects of attracting more investors.

Initial Dex Offering

Initial Dex Offering is a type of ICO hosted on decentralized exchanges. These offerings make it easier for projects to be included in ICOs and are less expensive than IEOs. However, they may be riskier investments because they lack the same rigorous review process as IEOs.

Initial Game Offerings

Initial Game Offerings serve the same purpose as the initial offerings. They are essentially ICOs but offer additional features that allow participants to acquire game assets, such as NFTs. In addition, some IGOs offer incentives within the game. These incentives are proportional to the participant’s investment; the greater the investment, the greater the reward.

What is a Launchpad for IGOs?

There are currently several launchpads hosting these IGOs. Launchpads are platforms that enable creative projects to raise capital and attract investors.

Typically, the investor must purchase the launchpad’s native coin to participate in an IGO event.

Typically, the investors would have to pool these assets. Depending on the algorithm, they would then receive either the project tokens or the NFTs required to play the game.

Popular launchpads include GameFi, Gamestarter, and Seedify.

One of the first platforms to promote the notion of IGOs was GameFi. GameFi offers two expansive games: $KABY Pool and Deathroad IGO. Both of these projects are launching their token sales. Participants can either hold them and wait for the price to rise or spend them to enhance their blockchain gaming experience.

Considerations Before Investing in an IGO

Additionally, it is prudent to determine whether the launchpad provides guaranteed allocation. Occasionally, IGO launchpads use lottery mechanisms for token distribution, meaning funding is not guaranteed, and investments may be riskier.

One may also choose to evaluate the token holder perks offered by the launchpad. Other information, such as the platform’s previous IGOs and ROIs, will aid in making a better and more educated investment selection. Additionally, researching the topic itself is beneficial. Visiting their websites and social media platforms can provide insight into their plans and possibilities.

With Metaverse and NFTs becoming a reality, the gaming industry will expand even more than it already has. Consider Axie Infinity, which earns close to one billion dollars. In addition, GameFi enables users to not only play but also earn, removing gaming from the category of purely recreational activity.

This demonstrates the gaming industry’s potential and projected future expansion. IGOs will undoubtedly provide a hand in this regard. They will allow an increasing number of projects to flourish and grow to their full potential while allowing investors and participants to earn prizes, boost their revenue, or gain early access to a game, which might create a sense of exclusivity. Hire a reputable IGO development company and get started with your future project.

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