Firms with Initial Game Offerings Growing in Web3

Firms are experimenting in new technology related segments. Crypto investors are always in search of virtual assets that are priced low and have the potential to generate good returns. Games makers in the Metaverse, NFT and Web3 segments are coming up with such projects for investors. These firms also try to attract investors and create some buzz around the projects with Initial Game Offerings (IGOs).

IGOs provide an opportunity to invest early in gaming projects that have the potential to generate higher returns after launch. Game developers often raise funds for their projects by presenting game-related crypto tokens and digital collectibles as IGOs. In this, buyers also get a chance to get first-hand access to the game’s accessories like mystery boxes and weapons. Investing in IGO may require purchase of Launchpad Tokens. This guarantees the allocation in the IGO. Seedify, Gamestarter and EnjinStarter are some of such popular launchpads.

Evermore Knights and STEPN have launched IGOs ​​in recent months. Play-to-earn games like Axie Infinity, Sorare and Evolution Land are placed in the GameFi category. With the increase in GameFi, people are interested in buying NFTs or tokens associated with the game before the launch of the game.

Binance Labs raised nearly $500 million in investments last month for its Web3-linked fund. Investors include DST Global Partners and Breyer Capital. This fund will help crypto and Web3 startups. Binance Global, which runs Binance Labs, owns one of the world’s largest crypto exchanges. It now plans to work on projects related to Web3. These will include projects working on cryptocurrencies, non-fungible tokens (NFTs) and metaverses. Started about four years ago, Binance Labs has funded several Web3 projects in the past. Its portfolio includes projects such as Audius, Elrond, Polygon and Injective. In recent months Binance US has received licenses to start business in several countries including Dubai and France.

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