Initial Game Offering (IGO): A Detailed Guide to Participating in IGO on Binance NFT
During market downtrends, the Gamefinity team dedicates time to researching new NFT games and trends that could help the community earn money in the next uptrend season.
Today's trend that Gamefinity wants to introduce is the IGO trend on Binance NFT.
What is IGO?
Before diving into IGO, it's important to understand what IGO means.
IGO stands for Initial Gaming Offering, which is essentially a form of fundraising for NFT Gaming projects within the Crypto space.
In structure, IGO is quite similar to other fundraising methods like ICOs, IDOs, and IEOs. The process of participating in all these fundraising forms is generally the same.
If you've invested through any of these fundraising methods before, understanding IGO will be straightforward. The IDO trend during the 2020-2021 uptrend emerged significantly, yielding profits ranging from 5x to 100x in a short span for investors.
By Q4/2021, the Play-to-Earn trend exploded alongside numerous IDOs, making it easier for many to bolster their accounts through NFT game IDOs.
However, in 2022, the IDO trend in the NFT gaming sector has not been as lucrative as in 2021, leading to the rise of IGO, which promises more potential and better profitability.
Why Choose Binance NFT Marketplace?
I've chosen Binance NFT Marketplace for several reasons:
Binance NFT Marketplace is currently the most reputable platform for trading NFT Gaming/IGOs worldwide.
CZ, the founder of Binance exchange, is known for influencing market trends within the Crypto space.
Market trends like IEOs, IDOs, Launchpad, and the latest Move-to-Earn trend all originated from Binance.
For example, the Move-to-Earn project StepN (GMT), recently listed on the exchange at $0.01, peaked at nearly $3 (a 100x increase), attracting significant attention and capital into Crypto overall and specifically into Binance. Other exchanges follow suit by creating similar plays.
In summary, CZ Binance's ability to create trends and pump coins is unparalleled!
Is IGO the upcoming trend?
There's a strong likelihood that IGO could become a trend soon and provide profitable opportunities for the following reasons:
Firstly, IGO hasn't been as heavily pumped as IEOs or IDOs.
Secondly, if Binance aims to establish itself as the number one NFT Marketplace globally, CZ may need to drive this trend forward, given the existence of formidable competitors like OpenSea.
Thirdly, IGO itself serves as a tool to sustain and grow Binance's revenue stream. To participate in IGOs, holders need to maintain a certain amount of BNB tokens to secure participation tickets.
While IGOs on Binance NFT may not yield immediate gains like IDOs, they do offer fairly stable profits in the short term.
For instance, the IGO for Mavia Lands NFT, launched on Binance NFT on March 16, 2022, priced at 0.4 ETH (~$1300). Currently, even the least valuable virtual land is priced at $2550, marking an increase of nearly 96% in less than a month. This demonstrates that virtual lands have the potential to appreciate more than real estate!
Detailed Guide to Participating in IGO on Binance NFT
IGO is a launchpad dedicated exclusively to gaming, where all drops include in-game assets such as early access passes, weapons, items, decorations, costumes, and various other exclusive assets on Binance!
Here's how you can participate:
Step 1: To participate in IGOs on Binance NFT Marketplace, ensure you have a KYC-verified Binance account with enough BUSD balance.
If you don't have an account yet, you can register using this link: binance.com/nft/gamefinity
Additionally, you'll need to hold a certain amount of BNB tokens in your wallet to increase your chances of winning participation tickets.
Step 2: Log into your Binance NFT Marketplace account via the website.
Step 3: Select the Gaming/IGO section from the Menu or click this link: binance.com/gaming-igo
Step 4: Proceed to participate in the IGO. There are four stages within the IGO process:
Preparation Stage: The system will verify if you meet the participation criteria. Your account must be KYC verified, and you must hold a certain amount of BNB tokens in your wallet.
Commitment Stage: This is where you commit to participating in the IGO. The system will automatically lock a specified amount of BNB in your wallet (which cannot be traded).
Allocation Calculation Stage: The system will allocate NFTs to all participants based on a predetermined formula.
Allocation Stage: Here, you'll find out if you've secured an IGO slot and the details of your NFT purchase allocation.
Note: Even after completing all these steps, there's no guarantee that you'll secure an NFT purchase slot! Holding more BNB increases your chances, though.
Tips: Consider buying and holding BNB during significant price dips.
You can find detailed instructions on participating in IGOs on Binance NFT via this link.
Conclusion
Thus, Gamefinity has provided a detailed explanation of what IGO is and a step-by-step guide on how to participate in IGOs on Binance NFT Marketplace.
Finally, it's essential to note that these are my personal opinions and not investment advice. You should take responsibility and manage risks associated with personal investments.
Wishing you all profitable returns from participating in this venture.
