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Everything you need to know about the initial release of the game or IGO

BingMag.com <b>Everything</b> <b>you</b> <b>need</b> to <b>know</b> <b>about</b> the <b>initial</b> <b>release</b> of the <b>game</b> or IGO

With the advent of blockchain these days, the use of this technology is increasing dramatically. This technology has shown good potential for new DeFi financial systems, one of the latest growing technologies in this regard is the initial game offering or an initial game Offering (IGO). With the advent of GameFi (one of the first panels to host the game's initial release plan), initial game Offering (IGO) has become very popular with Ramzarz investors. IGO allows you to pre-purchase NFTs or tokens for a blockchain game in the early stages of development. In this article, we will introduce you to this emerging technology, as well as the risks involved.

How does an IGO work?

IGOs are usually organized through launchpad platforms. be. Typically, investing through launchers requires participants to stack the main platform token for a certain period of time. Depending on the project, participants can gain initial access to game tokens or NFTs. In some cases, tokens and NFTs obtained from IGOs can be traded outside the gaming ecosystem in decentralized exchanges and NFT markets. Capital increase. This method is similar to the initial token offering (ICO), but apart from digital currency tokens, IGO participants can access the in-game assets while supporting the initial development of the game. Assets provided by IGO often include mysterious boxes, characters, shells, accessories, weapons, and more. In most cases, these are the NFTs needed to access or run the game.

There are currently a number of IGO launchers on the market, including Binance NFT, BSCPad, TrustSwap, and EnjinStarter. Different launches have different approaches to IGOs, but usually require investors to purchase the main token platform token for participation. For example, IGOs in Binance NFT require investors to keep a certain amount of BNB in their Binance wallet in order to be eligible to participate.

After collecting the required tokens, participants must deposit them. Lock in a liquidity pool for a period of time. Depending on the allocation algorithm, they will then receive project tokens or NFTs based on the number of locked tokens. To receive NFT assets from IGO. Participants are sometimes asked to hold (hold) game tokens or purchased NFTs for a certain period of time before the exchange.

What is the difference between IGO, ICO, IEO and IDO?

There are several ways to raise capital in the world of cryptocurrencies. Some of the most popular are Token initial Offer (ICO), Exchange initial Offer (IEO) and Decentralized Exchange initial Offer (IDO). They are all similar methods of crowdfunding, but there are some differences in how they work. Fundraising was in crypto. This method allows blockchain-based project teams to raise capital through the use of cryptocurrencies. The ICO method was used by Atrium in 2014 and was a very popular tool for crowdfunding until early 2018. ICO events can provide an effective way to receive project funding in the early stages of development. That is, IEO is not hosted directly by the project team, but within a digital currency exchange. The initial public offering of an exchange is managed by an exchange on behalf of a startup with the aim of raising capital for the sale of tokens. In most cases, projects must undergo a thorough review before being accepted into an exchange. The IEO project team can also increase exchange users. Binance Launchpad is a popular example of an IEO platform. IDPs offer to address the shortcomings of ICO and IEO models. Were created. For example, because a project token is launched in a DEX, it generally has a lower fee for listing projects than IEOs. In this way, it is much easier to create liquidity pools. Because the currency pair pools will be created at the same time as the token purchase, individuals will also be free to participate in the initial public offering simply by having a digital currency wallet. This method has less investment than IEO. The manipulation of the price of tokens in this method is much more, but in the IEO method, the market depth is greatly increased and its price can not be easily manipulated, and finally we must remember that in this method there is no mechanism to monitor projects There are projects.

Tips for participating in IGOs

Like any investment, there is no guarantee that IGOs will be profitable. Before committing to any IGO, you should always have DYOR and consider the potential risks. For example, you can check out a game project website or social media to see if it offers a clear plan or roadmap. you can also see if investors or reputable partners are sponsoring the project. And understand so that they can answer exactly why they buy that currency and support that project.

The active community in these projects is also of great importance. If in the early stages, a reputable group of people participated who work to agree with the game project activists and are waiting to launch it, then there is a good chance that the project team will succeed in this direction.

How to participate in an IGO in Binance NFT?

BingMag.com <b>Everything</b> <b>you</b> <b>need</b> to <b>know</b> <b>about</b> the <b>initial</b> <b>release</b> of the <b>game</b> or IGO

you can participate in IGOs in Binance NFT Get exclusive in-game assets and NFT suites from a suite of game projects.

Binance NFT adopts a unique subscription mechanism to ensure that all users have an equal opportunity to participate in IGOs . The final NFT allocation based on a selection algorithm will be quite general and verifiable.

Log in to your Binance account and go to the Binance NFT homepage. Click on the IGO project banner you want to participate in.

2. you will be taken to a subscription page, where you can see all the details of the project. To be eligible for the company, you must hold a minimum amount of BNB assets.

There are four steps to IGO Binance: Preparing, Subscribing, Calculating, and Distributing. For more details on what to do at each step, you can check out the FAQ page.

Summary

IGOs provide an innovative way for game developers to submit their projects Fund through the use of blockchain technology. While IGOs can be a good way for investors to support early-stage gaming projects, they also carry significant financial risk. you should always do the necessary research before risking your capital.

In this article, we tried to acquaint you with this new technology and use useful information to get acquainted with several reliable sources. And to enter the world of the initial release of blockchain games to our audience, always remember before investing in new technologies, be sure to do the necessary research in this regard to be safe from fraud in this area. In the following articles, we will introduce you to a variety of blockchain games such as Axie Infinity, which is the leader in this platform with sales of more than $ 1.5 billion in 2021.


Source: Coinspeaker / Binance Academy / Coinmarketcap / Hackernoon

Tags: everything, you, need, know, about, initial, release, game, igo

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