What is Initial Game Offering (IGO)?

Initial Game Offering (IGO) is the latest launch platform trend in the crypto space, with a similar concept to Initial Coin Offering (ICO). The main difference lies in IGO, where the platform hosts gaming projects that use NFTs or tokens as currency and rewards in their games.

Investors can allocate their funds to the gaming projects offered by the IGO launch and hope to gain significant Return on Investment (ROI) as the gaming projects launch on major crypto exchanges or gain popularity in the growing gaming community.

With the growing popularity of blockchain-based games, Initial Game Offerings are becoming a big thing in the crypto space. Games like Axie Infinity (AXS), CryptoBlades (SKILL), and Alien Worlds (TLM) attract thousands of active users every day. Axie Infinity is even the leader with sales reaching more than $1.1 billion USD throughout 2021.

While Axie Infinity has launched an initial $AXS token sale on Binance Launchpad, players in the game earn their primary income from Smooth Love Potion ($SLP) tokens. $SLP tokens can be earned by completing daily tasks, competing with other players (PvP), and fighting against monsters in adventure mode (PvE). Players can exchange $SLP to fiat currencies on exchanges like Binance, and users in the Philippines can even monitor the SLP to PHP exchange rate directly on CoinMarketCap.

As popularity exploded, several IGO launch platforms emerged, including GameFi (GAFI), Enjinstarter (ENJINSTARTER), Gamestarter (GAME), Seedify.fund (SFUND), and others.

Initial Game Offering (IGO) was first introduced by GameFi

GameFi was one of the first launches to introduce the concept of Initial Game Offering (IGO). Currently, there are two IGOs ​​ongoing on the GameFi platform, namely $KABY Pool and Deathroad Initial Game Offering. Both games offer initial tokens to gamers who can save them to wait for price increases or use them to enrich their blockchain-based gaming experience.

Enjinstarter is another IGO launch platform that offers unique projects and features such as yield farming, NFT-based platforms, and DeFi platforms. The project is built on Enjin's Jumpnet, a platform for game developers to build communities and run marketing campaigns to support game projects.

The main goal behind IGO is to provide early access to gaming assets that early investors can rely on, so that it is expected to provide a significant Return on Investment (ROI) in the future.

Although IGO may seem like a promising investment, before jumping into an Initial Game Offering platform or projects that are in the Initial Game Offering (IGO) phase, a number of things need to be considered:

1. Review the benefits for native token holders. Compare the benefit percentage with other IGOs.
2. Check whether the Initial Game Offering launch platform provides guaranteed allocations. Although it may require higher fees compared to other IGO launches that use lottery mechanisms, here the allocation is guaranteed.
3. Evaluate the ROI of active IGOs ​​offered on the platform. A launch platform with a history of good projects will likely provide significant returns on most future projects.
4. Review launch platform holder value as a performance metric. High holder value indicates a high token valuation, so investing in the Initial Game Offering is potentially profitable.
5. Review the number of token earning events from the IGO launch platform. A high number of events indicates that the platform is trying to hold quality initiatives to improve its overall rating.

Overall, investing in IGOs ​​and IGO launch platforms is an investment decision that still carries risks like any other. First evaluate whether the Initial Game Offering launch platform is reputable and aims to support large game projects in the future.

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DISCLAIMER: This article is informational in nature and is not an offer or solicitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.