Initial Game Offering (IGO)
What is Initial Game Offering (IGO)?
The process of acquiring funds for blockchain games is known as an initial game offering (IGO). It allows gamers early access to games while also assisting developers in raising further funding for the gaming project. In addition to the early access, project participants typically gain access to in-game assets used to play the game.
Understanding Initial Game Offering (IGO)
The Initial Game Token Offering (IGO) is a method of raising funds for blockchain game enterprises. It is comparable to an Initial Coin Offering (ICO), except that IGO participants can earn not only tokens, but also early access to in-game assets and assist the game’s development. Mystery boxes, characters, skins, accessories, weapons, and other goods are common IGO components. Most of the time, this is an NFT to access or play.
Several IGO token launch platforms are presently available, including Binance NFT, BSCPad, TrustSwap, and EnjinStarter. They have various restrictions for IGO, but typically, investors must purchase a naïve platform token. To engage in IGO on Binance NFT, for example, you must have a particular amount of BNB in your Binance wallet.
After purchasing tokens, members must keep them in the pool for a set length of time. They receive a project token or NFT based on the distribution method and the quantity of locked tokens.
Binance NFT uses a subscription mechanism to select winners so that all participants have an equal chance of receiving NFT assets from IGO. Participants may be required to hold game tokens and NFTs for an extended period of time or stake them before trading on the market.
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In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.
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More articlesDamir is the team leader, product manager, and editor at Metaverse Post, covering topics such as AI/ML, AGI, LLMs, Metaverse, and Web3-related fields. His articles attract a massive audience of over a million users every month. He appears to be an expert with 10 years of experience in SEO and digital marketing. Damir has been mentioned in Mashable, Wired, Cointelegraph, The New Yorker, Inside.com, Entrepreneur, BeInCrypto, and other publications. He travels between the UAE, Turkey, Russia, and the CIS as a digital nomad. Damir earned a bachelor's degree in physics, which he believes has given him the critical thinking skills needed to be successful in the ever-changing landscape of the internet.
