What is IGO? Overview of the IGO project
- 1. What is IGO?
- 2. Problems that traditional Gaming is facing
- 3. What kind of problems that IGO solve?
- 4. How does IGO solve the problem?
- 5. ICO, IEO, IDO and IGO
- 6. IGO platforms
- 6.1 GameFi
- 6.2 Gamestarter
- 6.3 Seedify
- 6.4 Enjinstarter
- 7. Some prominent IGO projects
- 7.1 Dark Frontiers (DARK)
- 7.2 market MyMasterWar (MAT)
- 7.3 Cryptia (CRYPT)
- 7.4 Planet Sandbox (PSB)
- 7.5 MetaWars (WAR)
- 7.6 Dreams Quest (DREAMS)
- 7.7 Mech Master (MECH)
- 8. How to join IGO
- 9. Find IGO projects
- 10. Opportunities and risks of joining IGO
- 11. Some tips to use IGO effectively
- 12. Is IGO a short-term or long-term trend?
What is IGO? For many people, the IGO platform is still quite new and not widely known in the Metaverse world. However, the project has confirmed its name in the market. So why does using this novel exchange attract so many users? Does IGO have any outstanding features? Let's find out with BHO Network in the article below to answer all these questions.
1. What is IGO?
IGO is an acronym for Initial Game Offering, one of the latest trends in the Metaverse world. The definition of this concept is similar to other terms like ICO or IDO.
However, IGO has a unique difference in that the platform organizes several NFT-base or token gaming projects as rewards for the winners of the game.
2. Problems that traditional Gaming is facing
In running any platform or project, the development teams will encounter many problems and difficulties. Currently, many traditional game publishers are mostly facing some structural limitations as follows:
- Lack of areas for trading, liquidity or in-game item exchange.
- There are no insurance policies for the player's valuables.
- In most traditional game models, the player and the development team will have a negative relationship. While one side is always trying to exploit users, the other wants to take advantage of diversity to increase enjoyment.
3. What kind of problems that IGO solve?
IGO was meant for many different purposes. First of all, it is the growing development of Gaming projects. These projects also have a lot of good projects, but it is tough to open and sell tokens on CEX exchanges in public sale rounds. Therefore, the IGO platform was created to solve those shortcomings.
For those who have more experience in game projects than other DeFi projects. IGO is also a profitable opportunity for those who love to invest in projects related to game development.
Next is for the whole Gaming segment in the Metaverse world. IGO will become a launching pad for quality projects to have more opportunities to show off. At the same time, the project will help the whole Sector grow more and more, like how IDO has been helping DeFi since its early days.
4. How does IGO solve the problem?
The IGO project brings various benefits to users in solving problems. So how is it helping?
- IGO is scalable in blockchain. This capability will support the settlement of a large number of transactions on the gaming platform. At the same time, all transactions must be clearly recorded in the books.
- The items in the game are priced, creating an easy item trading environment, stimulating the in-game economy to be more vibrant, increasing the glamour and attracting users.
- The fact that Game tokens are listed at major exchanges contributes to increasing gamers' ability to easily buy and sell in-game items. Blockchain will help reduce transaction time and service fees.
- Using the tokens in game will gradually give governance rights to the community, and users will have the feeling of truly mastering and increasing their awareness of the game.
Read more: What is Decentralized Storage? Details about Decentralized
5. ICO, IEO, IDO and IGO
When put on the scale with other platforms, IGO is pretty special. There are quite a few projects with the development purposes, such as the IGO platform. BHO Network will compare the three most prominent platforms at the moment, ICO, IEO and IDO.
- ICO - Initial Coin Offering: This is the first way to raise capital in the Metaverse world. Projects developers will raise money from the community without going through a 3rd party.
- IEO - Initial Exchange Offering: The next one is IEO, this is also a capital-raising project, but there has been a third intermediary. For example, a centralized exchange like Binance.
- IDO - Initial DEX Offering: This is a fairly new project that appeared around early 2021 when DeFi started to explode. IDO is considered a form of capital raising with the participation of third parties who are fundraising platforms, then tokens will be listed on decentralized exchanges such as Pancake Swap, Uniswap, etc.
- IGO - Initial Gaming Offering: With IGO it is similar to other projects. The games also need management tokens, currency, etc. So raising capital through the sale of these tokens is possible. The way it works is almost the same with IDO.
6. IGO platforms
The IGO organization project is currently being applied in many different platforms. To better understand these platforms, let's take a closer look at the details below.
If you're an investor, you've probably heard of Red Kite. It's a Vietnamese IDO platform, and GameFi is one of the following products of this team. In addition to supporting fundraising, GameFi will also build more Guilds similar to Ancient8. Or the team will establish more Yield Guild Game scholarships to encourage players to participate.
Unlike other platforms, Gamestarter allows projects to raise funds by selling in-game items in NFT form instead of tokens. Another advantage that also becomes Gamestarter's strength has an easy-to-see interface, as well as recording the ATH of each project.
In addition to being a fundraising platform for Gaming, Gamestarter also provides a marketplace for digital trading assets from games. . In addition, NFT of games raised capital on Gamestarter.
NFT selling fees at Gamestarter will be high (2%) compared to regular transactions but still generally cheaper than Opensea (3%). However, if you use GAME(Gamestarter Token), then you will be reduced to 0.2%.
Compared to other platforms, Seedify is one of the platforms with a large number of registered project owners. Besides, Seedify divides up into nine tiers, which gives players more choices to suit their budget.
At the beginning of October 2021, Seedify announced plans to release the V2 version and many other extension extensions. The project wants to be more than just a fundraising platform, most notably Studio with more than 20 employees in many areas such as Designer, or Animator.
Enjinstarter is an IGO platform focused on developing the Enjin ecosystem and the Metaverse universe.
Unlike other normal IGO Launchpads, Enjinstarter is a project aimed at incubating Gaming projects. The project will call for capital by supporting the network, and consulting project development. This is similar to Alpha Finance Launchpad or Impossible Finance.
7. Some prominent IGO projects
In addition to the above platforms, IGO also has many different projects. To learn more about these projects, please read the following information.
7.1 Dark Frontiers (DARK)
Dark Frontiers is the newest Game project in the Game Fi market. The DAO produced by Gamestarter. The platform aims to bring players the most interesting and quality features.
Dark Frontiers is always trying and constantly promoting popular adoption by enhancing the usability of NFT through staking and item ownership to construct real-world value through in-game items.
The user will pilot a spaceship, conquer new planets, defeat enemies, and collect NFTs that can be built or marketed.
The DARK token in Dark Frontiers will be applied to Stake, in addition, players can also buy and upgrade their own ship. After upgrading the ship for global domination, Users will be ready to take on other opponents who stand in their way.
7.2 market MyMasterWar (MAT)
MyMasterWar is an NFT Game title maintained based on blockchain technology. Users can play Games to earn money based on the profit-sharing model around. It is a place where everyone craves power, to change history, aspire to immortality, and master the vast universe.
To achieve this, humans need the ability to think and the power to evolve. Scientists have researched, invented, searched and edited the most elite genes in history, transcending time and space.
Gamers can role-play as many different kings to rule the kingdom, where fiery battles take place with the goal of breeding, improving and developing their territory.
The first part will take place in the Three Kingdoms period of China. Users can choose the scenario according to their wishes. Each player will be like a king of the country. These "kings" can choose generals, build an army, devise battle strategies and fight battles.
7.3 Cryptia (CRYPT)
Cryptia is a game designed in the RPG genre and developed by Gianty INC Game. This is a leading Japanese Mobile Game developer with many years of experience developing many different Game genres.
This game allows users to explore the world of Cryptia. With Cryptia, users can rent characters, trade, earn profits, buy and sell, and upgrade used in-game items. In addition, users can use items to participate in battles with monsters of various levels and receive rewards.
Given the CRYPT Token, adventurers and items will exist as NFTs with various attributes. Users can use them to help navigate monsters of difficulty and earn rewards. Rewards and NFTs earned can be traded in the real world.
The game provides users with diverse characters to play with. Players are constantly challenged and entertained. They can play alone or form a team. The game will narrate the story that once there were four countries with invincible magical power, seen as an empire, always celebrating victories with the transformation of fire and the management of swords.
7.4 Planet Sandbox (PSB)
Planet Sandbox is a shooting game that allows users to creatively build and customize their own sandbox worlds. Yourself with a multitude of built-in items. In the virtual world of Planet Sandbox, players can play, build, own and monetize their own experiences.
One of the core functions of the game is the construction mode. Users are provided with builder tools to customize every object in the universe on the first login. Users can change from geography to Game rules and invite friends to play in the sandbox in multiplayer mode.
7.5 MetaWars (WAR)
WARENA is a great combination of the two latest trends. It is a play for money and Metaverse. Almost everyone in the WARENA ecosystem can enjoy the fighting strategy game in the project's Metaverse while earning digital income with the collected cryptocurrencies.
In WARENA, Gamers can earn – income from game through some contribution to the ecosystem, accumulate resources, buy and sell resources from game.
The Game Platform is the business model of playing for money. This allows the user to own the assets in the game and increase the value of the assets by actively participating in the activities in the game. This way, players will create value for other players, developers, and themselves.
Some of the differences of WARENA include AI personalization technology that allows users to upload personal photos to create unique digital avatars and NFTs created on different Blockchain platforms such as Harmony ONE, BSC or Near.
7.6 Dreams Quest (DREAMS)
Dreams Quest is an upcoming decentralized role-playing game using NFT. It is an Adventure game where gamers can explore kingdoms to participate in events and quests. Battle mode using cards and items collected at NFT.
Users use quests to discover new locations and find valuable loot that can be traded, upgraded, or sold for a profit. Card packs can be rented. Pro users can live stream and monetize the game.
7.7 Mech Master (MECH)
Mech Master is one of the first 3D Blockchain Mecha Games with strategic RPG elements. Here you can earn Tokens through skilful gameplay and intelligent trading.
You will be challenged to collect giant fighting machines and futuristic weapons to save the world in the Mech universe. To become an experienced pilot, players will make a difference from other Gamers with unique tactics and sharp decision skills.
This is a game of blockchain in a sci-fi setting. Not only will the battle arenas help players earn rewards, but they can also benefit from the battles by earning MECH Tokens.
8. How to join IGO
To join IGO, you can follow the process as follows. First of all, applicants need to complete the KYC process at Seedify. Instructions for each step of the KYC verification process can be found below.
After completing the KYC process, you need to have enough $SFUND for each specific level you want. You can continue with the following steps:
- Access the exchange's Launchpad platform.
- Connect your wallet to Seedify; you can use Metamask or WalletConnect wallet.
- Clicking on the platform's Pool will be an Initial Game Offer.
- Click the Buy Token button on the opened page
- Choose a limit and buy the token up to the maximum amount specified on the platform.
So you have completed the purchase of IGO. Your tokens will be sent to your wallet after the decentralized exchange (DEX) listing according to the predetermined schedule.
9. Find IGO projects
You can easily find IGO projects on the Internet. Just go to social networking sites, especially Twitter, and type the hashtag #IGO. You will see many projects being advertised on it.
Besides, Launchpad is also a place to find reputable IGO project. IGO depends on several factors from the Launchpad platform. Normally, when participating in IGO on Launchpad, you will have to buy tokens of the Launchpad platform.
These tokens will be locked. After the launch, the Token and Staking money will be returned to the user's account according to the stages announced by the project in advance.
10. Opportunities and risks of joining IGO
IGO offers investors participating in the first round of funding to have more advantages. Then, when the game launches, the token goes on sale, and investors can earn huge profits from their initial investment.
Besides, IGO is still a fairly new trend. Risks are also involved. One of the common risks is that the game won't start. The developer team has a good plan, but the game doesn't work smoothly, or people are not interested in playing the game.
In addition, the more serious risk that can happen to you is encountering a scam. The guys behind the game raised a lot of money with an exciting storyline and disappeared. This has happened many times with ICOs before.
Although you will never be able to accurately conclude whether an investment through IGO is profitable or not, however, you can protect yourself against the risk as much as possible. You can do this by closely examining the project.
Read more: What is Proof of Authority (PoA)? How does it work?
11. Some tips to use IGO effectively
IGO is relatively new, and there is not too much information about this platform, so it has quite a lot of potential to exploit. However, before choosing to invest in any IGO platform or projects in the early game delivery stage, you need to consider a few notes:
- Interests of the owners of the original token: You need to check the profit percentage and compare it with some IGO.
- Check if Launchpad launches IGO: You need to check if Launchpad provides solid guaranteed allocation. Prices may be higher than some Launchpad IGOs that use a random lottery mechanism.
In some cases, however, the allocation will not be guaranteed. Launchpad is very important to the success of IGO. Check and see if any of the projects here have achieved their crowdfunding goals and how long did it take to get there?
- Evaluate the ROI of IGOs Active: A Launchpad with a good project history will be able to help generate significant returns on most future projects.
- Take care of the internal information of the project: You need to care about some information about the project. Such as who are the people behind the game? Has the development team developed many projects?
- Investors and project partners: This is also essential information, which is also good if the platform has a great reputation among the participating investors and partners.
- Community: If there is already a large group of users looking forward to the launch of the game, then this will increase the chances of success.
12. Is IGO a short-term or long-term trend?
Before entering the Blockchain platform, Gaming was born in the traditional world long ago. The market at that time also had quite a lot of game genres, such as MMORPG and MOBA.
Therefore, the next step into blockchain will also be a new environment for Gaming. As expected, the Gaming segment will continue for a long time.
According to objective assessments, the Play to Earn trend will continue and develop. Therefore, IGO will be a form of IDO funding. Therefore, if the disadvantages such as bots, scam projects, etc. cannot be overcome, IGO is probably a tiny trend in the short term.
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In the above article, BHO Network has given you all the info to answer the question What is IGO? IGO is still developing fast and has a lot of potential in the future. Please follow our following articles to update the latest information about IGO!
Published on July 20, 2022
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