An Initial Game Offering (IGO) is a way for new and upcoming game developers to raise money in order to fund the development of their games. This process works by allowing gamers to purchase virtual tokens that represent a stake in the game. In exchange for their investment, gamers receive access to early builds of the game, as well as exclusive content and features.
If you are a gamer who is interested in getting early access to new games, or if you are a developer who is looking for funding, then an IGO may be right for you! In this blog post, we will discuss what an IGO is, and everything you need to know about this new fundraising method!
Let’s get started.
An Overview of Initial Game Offering (IGO)
An IGO is a type of crowdfunding campaign that allows people to invest in a video game or gaming company in exchange for digital rewards or, in some cases, equity. The most common type of IGO is a pre-order campaign, where people can order a copy of the game (or other digital rewards) before it is released. These campaigns are often used to fund development costs and help market the game.
Another type of IGO is an equity campaign, where people can invest money into the company in exchange for a percentage of ownership. These types of campaigns are less common, but they do offer investors the potential to make a profit if the company is successful.
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How To Participate In An IGO
In order to participate in an IGO, you must be a member of the game development team or community that is hosting the event. Once you have registered as a member, you will be given a link to the IGO page where you can read more about the event and submit your game.
The submission process is simple: just fill out a form with your game’s name, description, genre, platform(s), and any other relevant information. Once you hit submit, your game will be entered into the IGO.
Now, it’s up to the voters to decide which games they want to see made! They do this by “pledging” money to the games they want to see made. The more money a game has pledged to it, the higher chance it has of being selected for development.
Once the IGO is over, the team will select the games that received the most pledges and begin development on them. And that’s it! You’ve now participated in an IGO and helped shape the future of video gaming.
IGO versus ICO
The key difference between an IGO and an ICO is that an IGO focuses on selling game items, while an ICO sells tokens that may or may not be related to a game. With an IGO, there is a built-in use case for the token; with an ICO, the use case may be more speculative.
Another key difference is that IGOs tend to have a more limited supply of tokens than ICOs. This is because the total number of game items available for sale is capped, whereas with an ICO there is no limit to the number of tokens that can be created.
Finally, IGOs are often structured as Dutch auctions, meaning that the price of the tokens decreases over time, whereas ICOs typically have a fixed price.
The Bottom Line
An IGO is a new game that’s offered to the public for the first time. It’s usually done through an online platform, but can also be done through a company’s website.