IGO is an acronym for Preliminary Sport Offering. It is identical to ICO – Initial Coin Offering and IDO – Initial DEX Offering. It is a presale of tokens (to preselected consumers) prior to their listing on an exchange. While ICOs and IDOs can be for any type of token/project, IGOs are limited to crypto games, as the name suggests.
The objective of the IGO is to raise funds for future phases of the sport’s development, advertising, etc. This entails investing at a very early stage, which carries inherent risks as there is no assurance that the project will be completed or profitable. Nonetheless, the benefit of investing so early is that you’re purchasing the token at its lowest potential value. As a result, you can anticipate the token’s value to increase significantly (5x to 60x in my experience) within the first 48 hours… and probably much more in the future.
The Crypto Badger
Not an actual badger 😉 Dedicated to educating people about the world of cryptography.
Image by Fakurian Design on Unsplash.
What are IGOs?
IGO is an acronym for Preliminary Sport Offering.
It is identical to ICO – Initial Coin Offering and IDO – Initial DEX Offering.
It is a presale of tokens (to preselected consumers) prior to their listing on an exchange.
While ICOs and IDOs can be for any type of token/project, IGOs are limited to crypto games, as the name suggests.
The objective of the IGO is to raise funds for future phases of the sport’s development, advertising, etc. This entails investing at a very early stage, which carries inherent risks as there is no assurance that the project will be completed or profitable.
Nonetheless, the benefit of investing so early is that you’re purchasing the token at its lowest potential value. As a result, you can anticipate the token’s value to increase significantly (5x to 60x in my experience) within the first 48 hours… and probably much more in the future.
The primary rule for generating substantial percentage gains in cryptocurrencies is to enter the market before the price… This is the earliest you can begin work on a project (except in fact, you might be one of many devs;).
On launchpads, you will find forthcoming IGOs.
Launchpads are platforms designed for launching new initiatives effectively. They are frequently on different blockchains, such as Ethereum, BSC, Cardano, etc.
Some may have video games alongside other projects, while others are solely focused on video games. They may have diverse requirements for accepting new projects and whitelisting prospective customers (having the ability to participate in an IGO). Additionally, some are more likely than others to list additional initiatives.
There are numerous types of launchpads, but a few examples are provided below.
From my perspective, the four most important criteria for selecting a launchpad are:
1. How frequently do they introduce new initiatives?
2. What are the criteria for a guaranteed allocation? How much it would cost me, i.e., how many launchpad tokens I would need to purchase to have a guaranteed allocation in an IGO.
3. What is the weight of the pool for each tier? The weight of the pool is your “piece of the pie.” It varies with each IGO (depends on how many buyers are in the pool, at what tiers, and how many tokens are available), but you can expect the lowest tier (weight 1-2) to be able to invest roughly 20-30 USD in each IGO, while the highest tiers may be able to invest between 3,000-5,000 USD.
Therefore, at lower levels, you are unlikely to become a millionaire anytime soon ;-). This is the disadvantage of swimming pools with a relatively low entry for guaranteed allocation – they are very popular and have many members.
[However, because you receive 30-60x points, you can easily convert, for example, 20 USD into $1,000 USD, which is still pretty cool]
4. Which network (blockchain) is it utilizing? Despite the fact that the value of tokens in an IGO is low, it is important to remember that gas prices must also be considered. For example, Binance Sensible Chain and Polygon have significantly lower fees than Ethereum.
How can Half be Taken in an IGO?
Your wallet address must be on a whitelist, which is typically published a few hours or even a day before an IGO (for example, on launchpad’s Telegram channel).
How can one be added to the whitelist? There are two approaches:
A lottery spot is profitable.
=Guaranteed allocation (normally by holding a certain amount of launchpad tokens).
Winning a lottery spot is fairly self-explanatory ;-).
In some cases, holding a specific number of launchpad tokens increases your chances of winning the lottery. This is the case with Sport Fi and Belief Pad, for example.
Having a guaranteed allocation may be of interest to the majority of individuals. To qualify for a specific tier, you typically only need enough launchpad tokens in your possession. The disadvantage is that the quantity is typically quite high, especially for larger allocations.
How Does Follow Assured Allocation Work?
This section will compare four launchpads (Seedify, Sport Fi, Belief Pad, and Enjin Starter) and the levels they offer.
Please keep in mind that over time, launchpads may alter their tiers and, consequently, the costs of their tokens.
To participate in an IGO on Seedify, you need between 250 and 1,000,000 SFUND tokens, and there are 9 tiers.
Tier 1 is the only lottery. From Tier 2 onwards (1,000 SFUND), allocation is guaranteed in each IGO.
SFUND token is currently worth approximately 4.3 USD, whereas it was worth approximately 5.3 USD a few days ago. At current prices, this implies a budget of $4,300 to $430,000 for guaranteed allocations. It is a substantial amount of money, but a few effective IGOs could make it worthwhile.
In addition, the prices of many tokens have recently increased substantially. I was discussing SFUND on my YouTube channel when the costs were between $2.9 and $3.3 USD (so it is worth following me there;-)). During the summer market correction, you could purchase it for between $0.3 and $0.6 USD. Thus, it was possible to attain Tier 3 with approximately $1,000.
As you can see, Sport Fi has a slightly different strategy, with only four tiers and only the highest tier having guaranteed allocation. You require between 20 and 500 GAFI tokens, which, based on the current price of GAFI (68 USD), equates to between 1,360 and 34,000 USD.
Each 20 GAFI tokens grants you one ‘lottery ticket,’ so even though tiers 1-3 are all lottery, tier 3 gives you a 20-times greater chance of being added to the whitelist.
Additionally, because it is a lottery, the number of spots on the whitelist is known beforehand, so individual allocations are known beforehand and better than in the case of Seedify.
Tier 1 (Rookie) of Sport Fi is equivalent to Tier 3 (Professional) of Seedify, and Tier 3 (Professional) is equivalent to Tier 7… However, it is a lottery, so it is impossible to predict who will be able to participate in an IGO.
As you can see, the nine tiers of Belief Pad are a mixture of lotteries with varying weighting and guaranteed allocations.
TPAD token is currently trading at around 0.46 USD (though it was as low as 0.07 USD in the course of the summer season), requiring an investment of at least 1,380 USD to participate in the lottery or between 5,520 and 85,100 USD to have a guaranteed allocation.
Belief Pad is not solely focused on games, but a large number of IGO make use of it nonetheless.
Enjinstarter possesses an additional strategy. 75% of the pool (the tokens that will be accessible within the IGO) is reserved for three tiers of guaranteed allocations.
To participate, you must hold between 25,000 and 500,000 EJS tokens, which at the current price of $0.13 USD equals between $3,250 and $65,000.
What’s different is that the remaining 25% of the pool is distributed to anyone with at least one EJS token in their possession.
This is on a first-come, first-served foundation, so it’s not the most effective answer, but it’s good that there are options for those who might not be capable of invest 1000s of dollars in a launchpad coin.
Rankings of an IGO’
So, how does an IGO operate? This instance is dependent on the recent release of Bloktopia on Seedify.
All upcoming IGOs are listed on Seedify’s website so that you can determine when the next one will go live. Personal sales are restricted to Tier 6 and above, while public sales are open to all tiers.
A few hours before the launch, a whitelist is published on Seedify’s Telegram. If you have sufficient SFUND tokens in your wallet and have previously linked your wallet to the Seedify launchpad, your wallet handle will be on the whitelist.
You can also see how much you can invest depending on your tier. These figures will vary for each IGO. Ensure that you have sufficient tokens (in this case, BUSD) to purchase tokens from IGO.
In the same message, there will be information on precisely when the IGO will shut down.
You won’t have to rush because the window is normally two to three hours and your allocation is guaranteed (in this case), but you must ensure you can access your laptop within that window or you will lose your allocation.
Once the IGO is live, you simply visit the Seedify website and log in with your MetaMask. You must then authorize the transaction and pay for the gas. Due to it being on BSC, the fees are extremely low; however, you will need BNB to pay for it.
If not all IGO tokens sell, there will be a second sale the following day. This is on a first-come, first-serve basis, and the remaining tokens will sell out within a few minutes. You may wish to extend your gas payment in order to have the opportunity.
This unique message on Telegram will additionally include details on when the token will be listed on an exchange and the vesting period. In the example provided below, you will receive 10% of your tokens upon completion of the IGO, 20% per month for the next three months, and the remaining 30% in the final month.
Additionally, this differs by IGO. Generally, it could be 50% upon completion of the IGO and 50% after one month. The more slowly tokens are released, the more stable their value will be, since people cannot dump them all at once.
On the day of listing the token on the exchange, the following information will be available on Telegram.
When you manually add this contract address to your MetaMask (focus on the community – the IGO was on BSC but it is a Polygon token so you must add the Polygon community to your MetaMask), the tokens will automatically appear in your wallet.
In this instance, you will only receive the initial 10%. The remainder will likely be transferred one month later, etc.
Once the token is listed on the exchange, you can monitor its value and decide whether to hold or sell it.
In my experience, each NGO is immediately generating revenue. For this IGO, I was only a Tier 2 investor, so I could only invest $20.39 USD. However, the BLOK token increased in value by approximately 60x within the first 48 hours after listing.
In other words, I can sell my 10% stake (2 USD worth of tokens) for USD 120. It didn’t make me a millionaire, but it’s not a terrible outcome 😉 And I still anticipate receiving 90% of BLOK tokens within the next few months.
One note – I had to ensure that I had some Matic tokens on the Polygon network in my MetaMask to pay for fuel to sell these BLOK tokens. Despite this, the fees are incredibly low.
Additionally, it is necessary that these Matic tokens are on the Polygon network and not the Ethereum network – some tokens can exist on multiple networks, but you cannot send ERC-20 (Eth) Matic to the Polygon address or you will lose these tokens. You must use a bridge, but the price of gasoline makes it quite expensive.
IGOs present a tremendous opportunity to earn significant benefits, but you must invest a substantial amount of money in launchpad tokens.
However, even with much smaller capital, you can still generate a reliable source of modest income… at least in a bull market ;-).
However, the largest opportunity (especially at higher tiers as your investment is larger) is the chance to invest extremely early in gaming projects, which not only have a high growth potential but are also an excellent hedge against a bear market. Even when the market crashes, people will continue to play video games.
I hope you found this article useful and interesting. If you are interested in crypto tutorials and crypto market analysis, please visit my YouTube channel and follow me on.