Q1. What is an Initial Game Offering (IGO) and how does it differ from an ICO?

An IGO is a fundraising model specific to blockchain games, where investors buy tokens or NFTs tied to an upcoming game. Unlike ICOs, which fund general crypto projects, IGOs offer assets with direct in-game utility, so returns depend on whether the game actually ships and gains players.

Q2. How does an IGO launchpad work and what are some examples?

IGO launchpads vet projects, whitelist investors, and run token or NFT sales before a game launches. Participants usually stake the platform's native token to get allocation access. Seedify is among the more active launchpads still operating as of 2025, after many 2021-era platforms wound down or pivoted.

Q3. What is the difference between an IGO, ICO, IEO, and IDO?

ICOs are unregulated project sales from the 2017 era. IEOs run on centralised exchanges with KYC. IDOs are permissionless launches on DEXs. IGOs are gaming-specific and often bundle token sales with NFT drops, making them the only format where the investment is directly tied to a playable product.

Q4. What are the key risks of investing in an IGO?

Most IGO-funded games from 2021-22 never shipped, and token prices collapsed fast. Risks include unsustainable tokenomics, low player retention, and NFT values built on hype. The Axie Infinity breakdown in 2022 is the clearest example. Delta Exchange offers derivatives on GameFi tokens as an alternative to holding illiquid NFTs.

Q5. What is an Initial Asset Offering (IAO)?

IAO is a term used by some launchpads for sales focused specifically on in-game assets like land, characters, or weapons as NFTs, rather than fungible tokens. It is not a standardised industry term, but signals that the sale is asset-first rather than governance-token-first.

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What is an Initial Game Offering (IGO)?

Shubham Goyal

January 24, 2022