With the development of GameFi, Initial Game Offering (IGO) is gaining popularity among cryptocurrency investors. IGO allows you to pre-purchase NFT or game tokens in the early stages of development.
IGOs are usually organized through launchpad platforms. Typically, investing through the launch pad requires participants to lock the platform’s local token for a period of time. Depending on the project, participants may have early access to in-game or NFT tokens. In some cases, tokens and NFTs obtained through IGOs can be sold outside the gaming ecosystem on decentralized NFT exchanges and markets.
After obtaining the required tokens, participants must lock them in a special pool for a certain period of time. Depending on the section algorithm, they will receive a project badge or NFT, depending on the amount of locked assets.
Binance uses a subscription mechanism to select NFT award winners so that everyone has a chance to acquire NFT assets from IGO. Sometimes participants are required to store or collect a game or NFT badge for a period of time before they can trade in the market.
There are several ways to raise funds in the cryptocurrency world. Some of the more popular ones are Initial Coin Offer (ICO), Initial Exchange Offer (IEO) and Initial DEX Offer (IDO). All of these are similar crowdfunding methods, but there are some differences in their performance.
However, because IDOs operate in DEXs, they do not always undergo a rigorous inspection process. This can increase the overall risk, as some IDO projects will potentially have a lower quality or a dubious reputation. Since many IDO projects turn out to be scams that steal investors’ money, you should also pay attention to carpet weaving.
For example, you can check the game project website or related social media to find out if there is a clear plan or development path. You can also check if the project is supported by any reputable investor or partner.
You can participate in IGOs at Binance NFT for exclusive in-game resources and NFT collections from many game projects.
Binance NFT uses a unique subscription mechanism to ensure that all users have equal opportunities to participate in IGO. The final distribution of NFT will be based on a fully transparent and verifiable selection algorithm.
2. You will be redirected to a subscription page where you can see all the project details. You must maintain a minimum BNB level to be eligible to participate.
IGOs offer game developers an innovative way to finance their projects using blockchain technology. While IGOs can be a good way for investors to support gaming projects at an early stage, they also carry significant financial risk. You should always do the necessary research before risking your money.