Binance NFT has launched its first-ever Initial Game Offering (IGO). Binance NFT is the official marketplace of Binance, offering non-fungible tokens to their customers. The new initiative began this week. DeRace, the NFT virtual horse racing ecosystem, was launched on the marketplace as an IGO. The IGO will give Binance NFT customers access to DeRace earlier than is usually available. Customers will be able to invest in the project at its inception, not to mention, there will be exclusive NFT drops.
Initial Game Offerings allow consumers to invest in gaming projects at their starting point. The content could include items such as access passes, in-game items and personalised skins. The IGOs will also feature exclusive NFT collections from different projects. You will only be able to buy them on the Binance NFT marketplace.
“Through the IGO drops, Binance NFT connects the global crypto community to high-quality blockchain games and high-quality in-game NFT assets,” explained Helen Hai, head of Binance NFT. She described it as “A dedicated hub where promising gaming projects can develop their games and build communities. Our goal is to help bolster the gaming industry and develop this sector to become more mainstream.”
Significantly, it could turn out to be a win-win situation. The IGO drops hope to lay the foundations for a Binance metaverse. Furthermore, the IGOs will bring more people in through gaming projects and increase exposure to the Binance Smart Chain (BSC). Indeed, it will help to bring more consumers to the NFT marketplace.
Binance chooses DeRace as the first IGO.
DeRace has been chosen as the first IGO because Binance believes this game could provide the springboard for success. The virtual horse racing game is the first decentralised blockchain horse racing platform. It is entirely NFT based, and users can engage in several horse racing-related activities.
The ecosystem is vast, and users can participate in races and breed NFT horses. They can upgrade stats such as stamina, speed and cool-down time. Importantly, you can gamble on them too. Meanwhile, they will also earn money whilst doing this. DeRace is a combination of three huge markets, so the potential is massive. Undeniably, gambling, horse racing and gaming will provide a considerable number of fans for the ecosystem.