Blue Baikal is launching IGO, or Initial Game Offering, to welcome a wave of P2E game developers to its new GameFi platform, Alchemist Republic.
Online PR News – 03-December-2021 – Singapore – With the launch of the new Play-to-Earn platform Alchemist Republic around the corner, Blue Baikal has announced on November 30th (PST) its plans to fund and support small- and medium-sized game developers to create blockchain games through the new Initial Game Offering (IGO) service.
Initial Game Offering is a type of blockchain crowdfunding that game developers can use to secure initial development funds, as well as early users, before the game is released. Some well-known IGO launchpads are Gamefi, Seedify, and Gamestarter.
Blue Baikal is composed of game industry experts who are getting ready to open Alchemist Republic, a Play-to-Earn platform that combines NFT and Defi technology on the Klaytn network.
Alchemist Republic allows traditional game developers to, without altering their existing business, expand into the blockchain realm without prior knowledge or technology. The game developers can easily link game data to the platform and start issuing in-game item-based NFT cards, with which users can access DeFi services and generate income. Alchemist Republic’s ambition to become the go-to solution for developers who wish to expand into the global Play-to-Earn market is evidently clear.
Regarding the decision to offer an IGO Launchpad, CSO Eric Kim has said, “After the success of WeMade’s MIR4, many game developers began showing great interest in Alchemist Republic’s GameFi service. As we were discussing the possibility of establishing a partnership, I quickly realized that not only were developers wanting to offer Play-to-Earn to their customers via Alchemist Republic, but they also wished to issue their own tokens and crowdfund their projects, too.”
Kim, however, noticed that few developers had a clear and firm understanding of blockchain in the gaming business, “So I ended up giving advice and practical support on IGO to some of the developers who will be joining Alchemist Republic.” It was then that the CSO of Blue Baikal concluded that the demand for such guidance and support would continue to rise in the future and therefore decided to develop a platform to cater to such needs.
“Even before the release of our platform, various types of games, such as idle, TRPG, casual, and strategy, had already approached us, and most of them also wanted IGO."
Kim continued with confidence: “In addition to helping game developers enter the global blockchain gaming market, we will also serve as a window to introduce good projects to those who are looking to invest in game-based tokens, and will provide gamers with a win-win ecosystem that lets them turn hard-earned game items they put their blood, sweat, and tears in to acquire into NFT-based blockchain assets that will create a source of revenue for them.”
Currently, Blue Baikal’s governance token, BBC, is traded on Dcoin (Dcoin.com) and KLAYswap (klayswap.com).
About Alchemist Republic
The global gaming market is massive and is expected to keep growing in the coming years. The high purchasing power of loyal gamers played a significant role in advancing this industry and is still driving the growth. However, psychological rewards alone in lieu of practical economic benefit lead to fatigue and discontent which may hurt the very people who helped grow the market. Play-to-Earn creates new economic values in games by mutually Benefiting both gamers and developers. GameFi, a new win-win platform model, eliminates the harmful effects of excessive charging and provides a new revenue stream for gamers ?—?to foster sustainable market growth.