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What is IGO?

What is IGO? The hottest fundraising trend of Gaming Blockchain

What is IGO? What is so special about these Gaming Blockchain fundraising platforms? Will IGO be a short-term or long-term trend? Watch it right here!!!
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 is certain to take place in a time when Gaming on Blockchain has become extremely popular, thanks to the Play to Earn trend that started 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 CEX exchanges 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 other DeFi projects. 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 a launching pad for quality projects to have the opportunity to express themselves, helping the whole Sector grow, just like how IDO helped DeFi from 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 themselves, not through a 3rd party.
  • IEO (Initial Exchange Offering): The next step of ICO, also fundraising projects, but starting to appear a third party, which is a centralized exchange like Binance.
  • IDO (Initial DEX Offering): Only launched around the beginning of 2021, that’s when DeFi started to explode. IDO is a form of fundraising with a third-party fundraising platform, then the token will be listed on decentralized exchanges such as Uniswap, PancakeSwap, …
  • IGO (Initial Gaming Offering): Similar to other projects, Games also need management tokens, currencies, … so they can also raise capital through the sale of these tokens. The method is almost the same with IDO.

Some current IGO platforms

GameFi

If you’ve ever heard of Red Kite, a Vietnamese IDO platform, then GameFi is one of the team’s next products. In addition to supporting capital, GameFi in the future will also establish a Guild similar to Ancient8 or Yield Guild Game, with scholarships to encourage gamers.

Gamestarter

Instead of selling tokens, Gamestarter allows projects to raise funds by selling in-game items in its NFT form. A plus point of Gamestarter is that it has an easy-to-see interface, as well as clearly states the ATH of each project.

More than just a Gaming fundraising platform, Gamestarter also provides a marketplace for trading digital assets from successfully launched games, and also NFTs of Gamestarter fundraising games.

Although the NFT selling fee at Gamestarter is quite high (2%) compared to normal transactions, it is still generally cheaper than Opensea (3%). However, if you use GAME (Gamestarter’s token), then you will be reduced to 0.2%.

Seedify

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 helps users have more choices to suit their budget.

At the beginning of October 2021, Seedify launched its plan to release its V2 version with many expansions that are no longer just a fundraising platform, most notably Studio with more than 20 employees for many fields such as Designer, Animator ,…

Enjinstarter

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 Metaverse universe in general.

Unlike normal IGO Launchpads, Enjinstarter aims to incubate Gaming projects to raise capital by supporting networks and consulting on 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 no longer 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!

Reference: Trend IDO will continue?

That’s not to say I don’t believe in Gaming. Before entering the Blockchain platform, Gaming was born in the traditional world decades ago, from the time when no one knew what an iPhone was, or the family didn’t even have a computer, until today. , we’ve had a lot of game genres 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 I correctly guess that the Play to Earn trend will continue, then IGO is also a form of IDO funding like I mentioned above. And if 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 should 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 phase to make a profit.

For platforms that require buying tokens in order to 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 peaking.

Summary

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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