Initial Game Offering (IGO)
What is Initial Game Offering (IGO)?
The Initial Game Offering (IGO) serves as a distinctive fundraising avenue for blockchain game initiatives. Gamers benefit from early access to these games while aiding developers in obtaining the funds necessary for expansion. Participants usually gain entry to in-game assets that enhance their gaming experiences.
Diving Deeper into Initial Game Offerings (IGOs)
An Initial Game Token Offering (IGO) is a dynamic fundraising approach for blockchain gaming ventures. It bears similarity to an Initial Coin Offering (ICO), yet IGO participants enjoy not only tokens but also the bonus of early access to in-game items, which contribute to the game's ongoing development. Common assets connected to IGOs include mystery boxes, characters, skins, weapons, and various other in-game collectibles, most of which exist as NFTs required for gameplay.Coin Numerous platforms now support IGO token launches, such as Binance NFT, BSCPad, TrustSwap, and EnjinStarter. Each platform has its unique set of requirements for participating in IGOs; typically, investors need to buy a native token associated with that platform. For instance, engaging in IGO on Binance NFT requires holding a specific amount of BNB in your Binance wallet.
Once investors acquire these tokens, they are expected to lock them in a pool for a predetermined duration. In return, based on the distribution strategy and the amount of tokens locked, they receive project tokens or NFTs.
Binance NFT employs a subscription-based method to randomly select winners, ensuring a level playing field for all participants vying for NFT assets through IGO. Additionally, participants may need to stake their game tokens and NFTs for a significant duration before being able to sell or trade them in the market.
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In line with the Trust Project guidelines Damir takes on the roles of team leader, product manager, and editor at Metaverse Post, focusing on areas like AI/ML, AGI, LLMs, Metaverse, and the emerging Web3 landscape. His insightful articles attract a large audience, exceeding one million readers each month. With a decade's worth of experience in SEO and digital marketing, Damir has had features in notable publications such as Mashable, Wired, Cointelegraph, The New Yorker, and Entrepreneur, showcasing his expertise. As a digital nomad, he travels across the UAE, Turkey, Russia, and the CIS. With a bachelor's degree in physics, he credits his background for honing the critical thinking skills essential for navigating the fast-evolving digital realm.
