Binance Initial Coin Offering (IGO) Definition and Purchase Process Analysis

php Editor Xinyi today will introduce to you what Binance IGO is and how to subscribe to Binance IGO. Binance IGO, Binance’s first listing event, is a financing method provided by Binance Exchange for newly listed projects. By subscribing to Binance IGO, investors can purchase tokens of new projects at preferential prices. However, subscribing to Binance IGO is not an easy task. You need to meet certain conditions and follow certain procedures. Next, we will introduce in detail the steps and precautions for subscribing to Binance IGO, hoping to bring you some help.

What is Binance IGO?

What is Play to Earn?

P2E (Play to Earn) is a way to earn while playing The model is different from the traditional professional e-sports market. In this mode, players do not need to undergo professional training or participate in world-class competitions to win prizes. On the contrary, ordinary gamers can earn cryptocurrency rewards by buying and selling NFT assets obtained through in-game adventures or completing specific game tasks. This method allows more people to participate in the game and benefit from it.

Who can participate in Binance IGO?

Generally speaking, there are two motivations for participating in IGO.

The first is that you want to participate in this project. For example, you need to withdraw the blind box NFT and pledge it in the game to generate income.

Earning the price difference is one of the main purposes of panic buying. Once you successfully snap up a product, you can often get a profit of 10% to 30% when reselling it. The specific profit margin depends on the popularity of the project. However, after a successful snap-up, you should resell it as soon as possible to avoid a gradual decline in liquidity. After all, IGO projects are listed one after another, and market hot spots are constantly changing.

This article mainly introduces the complete steps of the first method.

How to purchase game NFT and how does the game of earning while playing work?

Earning while playing mainly uses two methods to allow players to make money through games. First, players can buy and sell in-game NFT assets, such as rare equipment or special props in the game, and sell them on the market to earn profits. Secondly, players can earn cryptocurrency rewards through game progress, which can be used to purchase in-game items or sold on exchanges for profit. This method allows players to not only enjoy the game but also obtain financial rewards during the game.

Below we will use Axie Infinity, a previously very popular P2E game, as an example to let everyone understand how to make money while playing.

Axie Infinity is a blockchain game that includes elements such as development, cards, and battles. At the beginning, players need to purchase 3 Axie NFTs to start the game.

The game has several ways to earn money:

Players can use their own Axie to play levels in the game. After completing the levels, they will be rewarded with SLP tokens, and then earn money by selling these SLP Take profits.

• Players can complete daily tasks to obtain SLP and sell it to earn profits.
• Players can use their Axie to participate in PVP arena battles to win AXS governance token rewards, sell AXS or stake to obtain more AXS rewards and earn income.
• Players can use SLP, AXS and their own Axie pets to give birth to new Axies, and then sell the Axies on the NFT market to earn profits.

Axie Infinity is just one of the games that make money while playing. We have also seen that with the popularity of the Metaverse, the lands in The Sandbox and Decentraland are also very popular, and players can freely create on them in the future. Create your own game world and earn money by renting and selling tickets.

How to buy game NFT on Binance NFT platform? (gamefi)

So how do we buy game NFT on Binance’s NFT platform? We can do it through the blind box sold by Binance Draw, or pledge BNB through the new Binance IGO in exchange for purchase qualifications, or you can directly go to Binance’s NFT market to purchase game NFTs sold by other players on it. Below we will briefly introduce these purchase methods.

Binance IGO

Binance’s IGO is divided into four stages:

Preparation Period

The first stage will calculate the contents of all users’ Binance wallets ( The average BNB holding amount (above 1BNB) during the period (including spot, financial management, contracts, etc.) is used as the benchmark for the number of tickets that can be purchased in the next stage. In the first stage, the BNB in ​​the account will not be locked.

Subscription period

Click Subscribe for Ticket(s) to subscribe for tickets, and select the number of tickets to be purchased in Quantity. Total indicates that the BNB quantity will be locked until the end of the subscription period (only Locked using BNB balance in spot wallet). The more tickets you apply for, the higher your chances of qualifying.

Calculation period

After the subscription period ends, the purchased tickets will be entered into the lottery pool, and the winner will be randomly selected through Binance’s lottery system.

Distribution period

The winning tickets will have their corresponding BNB deducted and NFT will be obtained. The non-winning tickets will have their locked BNB returned to The user’s spot wallet.

You can click Check Your NFT Assets to view the obtained NFT in the user's NFT assets. Users can then put the NFT into the game for use or sell it through the Binance NFT market.

Binance NFT Mystery Box

Step1. Enter the Binance NFT interface, click "Mystery Box", and then select the item you want to purchase

(Here we take the Raiders of the Lost Ark mystery box as an example)

Step2. Select the quantity of mystery boxes you want to purchase and click "Buy" to purchase

#Step3. Or click on the user center in the upper right corner and click on the mystery box to view it

Step4. If you want to resell, you need The project will not be available for sale on the Binance NFT market until 12 hours after it is officially sold

Binance IGO summary

The game model of earning while playing has attracted many players to enter the NFT game field , this trend has brought huge demand to the earn-while-playing game platform.

Traditional game platforms such as Steam prohibit blockchain-related games from being put on the shelves, which makes blockchain games lack channels for promotion. Binance NFT introduces high-quality NFT game projects and also helps traditional game companies adopt the NFT game model and provide these game NFT products to users through Binance IGO and Binance NFT Market. It not only allows game platforms that earn money while playing to expand their market, but also allows more users to start their NFT game adventure.

The deposit and withdrawal functions of Binance NFT are integrated across platforms and users, allowing players to more conveniently play games on different gaming platforms.

I believe that with the efforts of Binance NFT and many blockchain game platforms, players can more easily enter the world of blockchain and experience more NFT games that make money while playing.

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