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Gaming is one of the most talked about topics in Crypto lately. And since then, a concept “new but old” was born, which is IGO. So what is IGO?
What is IGO?
IGO stands for Initial Gaming Offering, just calling for capital from projects specializing in Gaming in Crypto. Perhaps you have also heard phrases a bit like IGO, such as ICO, IEO or most recently IDO. All are basically the same, that is, about the form of fundraising, but different in the subject.
This is a step that must definitely take place in a time when Gaming on Blockchain has become extremely popular, thanks to the trend Play to Earn begin to bloom around June 2021.
Purpose of IGO
The reason for the birth of IGO is that more and more Gaming projects are springing up, among them there are also good projects, but it is difficult to open token sales on other platforms. CEX in Public Sale rounds. And thus, IGO platforms were born.
For investors, especially those from “gamer” backgrounds, they especially have more experience in game projects than in other projects. DeFi is different. So IGO is also a profitable opportunity for those who love to invest in gaming-related projects.
Finally, for the whole Gaming segment in Crypto, IGO acts as launching pad for quality projects to have the opportunity to express themselves, helping this whole Sector grow more and more, just like how IDO has helped DeFi since the early days.
Compare ICO, IEO, IDO and IGO
Actually, there are still many other names like IFO, IHO,… but here, I will compare IGO with the 3 biggest names, which are ICO, IEO and IDO.
- ICO (Initial Coin Offering): The first way to raise capital in Crypto, projects will raise capital from the community, not through a 3rd party.
- IEO (Initial Exchange Offering): The next step of the ICO, is also the project to raise capital, but begins to appear a third party, that is centralized floor like Binance.
- IDO (Initial DEX Offering): Having only launched around the beginning of 2021, that’s when DeFi started to explode. IDO is a form of fundraising with a third party being the fundraising platform, then the token will be listed on the decentralized exchange like Uniswap, PancakeSwap,…
- IGO (Initial Gaming Offering): Similar to other projects, games also need management tokens, currencies, etc., so they can also raise capital through the sale of these tokens. The method is almost similar to IDO.
Some current IGO platforms
If you’ve ever heard of Red Kite, a Vietnamese IDO platform, GameFi is one of the team’s next products. In addition to supporting fundraising, GameFi will also set up a similar Guild in the future Ancient8 or Yield Guild Game, with scholarships to encourage gamers.
Instead of selling tokens, Gamestarter allows projects to raise funds by selling in-game items in the form of NFT mine. A plus point of Gamestarter is that it has an easy-to-see interface, as well as clearly stating the ATH of each project.
More than just a fundraising platform for Gaming, Gamestarter also provides a marketplace for trading digital assets from successfully launched games, and also NFTs of Gamestarter fundraising games.
The NFT selling fee at Gamestarter is quite high (2%) compared to regular transactions, but it is still cheaper in general Opensea (3%). However, if you use GAME (Gamestarter’s token), you will be reduced to 0.2%.
Compared to other platforms, Seedify is one of the platforms with a large number of registered projects. In addition, Seedify is divided into 9 tiers, which gives users more choices to suit their budget.
At the beginning of October 2021, Seedify launched its plan to release its V2 version with many expansions not only as a fundraising platform, most notably Studio with more than 20 employees for various fields such as Designer, Animator. ,…
Perhaps just hearing the name, you can guess a part about Enjinstarter, right? Enjinstarter is an IGO platform focused on developing the Enjin ecosystem in particular and the universe Metaverse Generally speaking.
Unlike normal IGO Launchpads, Enjinstarter aims to incubate Gaming projects to raise capital by supporting networks and consulting project development. This method is similar to Alpha Finance Launchpad or Impossible Finance.
IGO – Short term or long term trend?
In general, IGO is no different from IDO, but IDO is actually not so hot when it reveals many weaknesses in both the way the game plays and the way the project is managed. To better understand the disadvantages of IDO, you can refer to the article below!
Refer: Will Trend IDO continue?
That’s not to say I don’t believe in Gaming. Before entering the platform Blockchain, Gaming was born in the traditional world decades ago, from the time when no one knew what an iPhone was, or at home, we didn’t even have a computer, until today, we have had a lot Game genres were born such as scenes, MOBA, … along with prizes up to millions of dollars.
Therefore, stepping into Blockchain is just like a new environment for Gaming, no one will be able to criticize the ability to play games and have money at the same time. So in my opinion, the Gaming segment will continue for a long time.
What about IGO? If even if I correctly guess the Play to Earn trend will continue, then IGO is also a form of IDO funding like I mentioned above. And If the disadvantages such as bots, scam projects, etc. cannot be overcome, the upcoming IGO is probably also a small short-term trend.
How to play IGO effectively
It must be recognized that IGO has just started, so it is likely that the first wave of IDO will return around February 2021, where there are many projects that list DEX pumps x50 x70 or even x100. Therefore, experienced brothers can take advantage of this period to make a profit.
For platforms that require buying tokens for Stake to get tiers, you need to pay attention to the token price, compare FDV with projects in the same array, to see opportunities and risks, and avoid swinging at the top.
IGO can be said to be an important milestone of Gaming in Crypto, it shows the correlation between DeFi and Gaming. But will IGO have different steps than IDO before? You can comment your opinion below about IGO.
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