Binance is set to enter the NFT gaming metaverse and will launch the ‘Initial game offering’ (IGO) on October 26, 2021.
The official handle of Binance NFT announced the flagship in collaboration with De Race NFT.
De Race is a complete #NFT horse racing ecosystem based on the blockchain and powered by DERC.
”#BinanceNFT is launching our first-ever Initial Game Offering (IGO) by @DeRaceNFT. As we build a stronger #NFTGaming metaverse, we are thrilled to share our IGO launches feat. exclusive NFT assets from top gaming projects. Stay tuned! More deets coming soon,” tweeted Binance NFT.
However, Binance has not revealed complete information about the upcoming gaming segment. The trading platform is making its way through the NFT marketplace with its latest development.
De Race also took to Twitter announcing the upcoming gaming project with Binance NFT and tweeted,
”Hold your saddle… DeRace NFT horse sale on @TheBinanceNFT Marketplace is about to happen! Mark your calendars, the date is October 26th #DeRace #NFT horses and limited edition Binancians are patiently waiting for their new owners in #Binance NFT stables #playtoearn,” along with a picture that reads ”NFT horse sale” and the release date of October 26, 2021.
De Race shared a video of a black horse running in an empty space with its shadow following its back. The high graphics video made it an upcoming favorite in the NFT sphere and captioned it, ”Binancians are coming to town!”
However, Binance and De Race have not confirmed which currency would be used in the upcoming NFT game.
BNB at the time of publishing was trading at $491.96 and is up +1.36% in the days trade.
What Is An ‘Initial Gaming Offering’ (IGO)?
An IGO is an exclusive launch of in-game assets by high quality gaming projects that provides investors with an opportunity to invest in game projects at an early stage. It runs on a belief that it has potential to offer bigger returns post the game’s launch.
The platform will host gaming projects on NFTs and reward returns on investment with in-game currencies or tokens.
IGO’s have already made in-roads in the NFT space as Alien Worlds (TLM), CryptoBlades (SKILL), and Axie Infinity (AXS) boast of thousands of daily active users. Axie Infinity currently leads the IGO segment with over $1.1 billion in sales up until October 2021.
What To Consider Before Entering An IGO?
IGO is a newer segment and investors need to consider ‘holder benefits’ and ‘native tokens’ the firm has to offer. Users need compare them with the other IGO’s already up and running in the market.
Investors also need to thoroughly evaluate the returns on investment (ROI) and the firm’s history of delivering value to their project’s future ideas on navigating the sector.