As our regular readers know we love projects that deliver news and updates about their progress. IGs second letter to the community is a continuation of their transparency we admire and have had the pleasure of covering many times already.
IGs second letter to the community
Intergalactic Gaming 08/08/2019:
IG’s Letter to the Community Part II
Since launching, Intergalactic Gaming have made considerable progress in executing what we set out to achieve. The IGGalaxy’s community centric approach will provide an ecosystem founded upon the principles of inclusivity, fairness and transparency.
A year on from our first letter to the community, we will provide another, this time with the intention of generating significant momentum as we approach the public launch.
The Journey: Careful Planning Results in a Perfect Execution
At the end of July 2018, Intergalactic Gaming activated within the TRON network, seeing a great opportunity to converge two emerging markets.
In a matter of months, we had mobilised the first wave of Galacticans from all parts of the globe — very quickly, we have become a leading project on the network. Reaching milestone after milestone, setting records and trumping votes, we captured a lot of attention through our aggressive marketing campaigns.
We are ecstatic with what we have achieved so far and looking forward to the future of IG. To that end, we are now preparing for the future growth we expect from the solution we are providing to the competitive gaming community.
State of Play:
Closed-Beta Phase: In Progress
Our current platform can host FIFA tournaments and distribute prize pools to all participants automatically. In addition, we have also implemented peer-to-peer chat, team management features and successfully integrated blockchain into the platform.
Our most recent development comes with the first phase of our admin panel release, providing easy to use tools for anyone to organise their own tournaments.
With the release of FIFA 20 next month, development has also started to support the addition of further game modes. We also recently confirmed that the second esport title to be supported on the platform will be Fortnite, boasting over 250 million registered players!
The IG x TRON Community Fortnite League is our first step in integrating the popular Battle Royale title and will focus on developing the core features for spectators on the platform for the first season. We have all seen the Newzoo statistics pointing towards the rapid incline of esports audiences; this will peak to over 400 million viewers by the end of 2019. As we progress towards the public launch, this league will generate significant exposure to a large and desirable target audience, while simultaneously engaging community SR’s with the wider TRON community.
Fundraising Process Initiated
As we have validated our market over the last year, we would like to take this opportunity to inform our community that we are very much underway with private fundraising preparations. This is an important step to ensure we are able to grow at the rate we expect, providing us with resources to take the IGGalaxy to another level.
At this point, we can confirm that we are working closely with our appointed lawyers and accountants as we prepare detailed business plans, pitch documents and investor lists. Although we are yet to announce or launch the investment round, we have received significant interest. Recently, as demonstrated, esports has proven to be an exciting and lucrative space for tech and entertainment investors. The UK itself is very keen to support the digital and creative industry.
This is a very confidential process, and as such, we are unable to inform you of any progress until legal agreements have been signed.
The IG Token Economy Document Release
We are also pleased to announce that we have released the IG “Token Economy v1.0” document on our website. This document aims to outline key aspects related to the design of the IG token economy, whilst also demonstrating the potential of token economies in the creation of value and opportunities for gamers and teams. Gamers are well equipped to understand virtual economies and we believe will lead the charge in the adoption of distributed token economies by end users. Our digital token, IGG, will enable a rewarding competitive gaming experience for all of our users. This will expose a total addressable market of 2.5 billion gamers to the world of crypto-assets. Please note, this is a live document and will be iterated on and updated over time.
IGG Token Sale Ahead of Platform Launch!
Very soon, we will be providing another opportunity to acquire IGG prior to the public launch of the IG competitive gaming platform in Q4 of this year!
Last year, we had sold 2.75 billion IGG out of the 8 billion IGG we had allocated from the total supply. This upcoming sale will enable opportunities for new and existing members of the community to purchase large amounts of IGG instantly and for a fixed price. Due to the lack of liquidity on the markets, this is currently something which is very difficult to do without paying premium. At the same time, IGG will be available on listed exchanges, where we encourage all holders to continue trading to support overall liquidity and listing on more exchanges.
The sale will be conducted in multiple rounds over the next few months, where each round will have limited amounts of IGG that can be bought at a fixed rate, via a smart contract. Every round will see the purchase price of IGG in TRX incrementally increase as we get closer to the launch.
Once the allocation for each round is sold, there will be no other opportunities until the next round. This will be your last opportunity to acquire IGG via a token sale, as an early adopter, before the platform fully launches. By participating in this token sale, you will support the growth of IG through further recruitment of top talent and deployment of our aggressive go-to-market strategy as we look to acquire significant users and ensure retention. Furthermore, with the upcoming public platform launch and introduction of further utility for the IGG token to a growing user base, we will list on top exchanges to introduce further liquidity to the IG token economy.
Full details on allocation of funds, token sale structure, benefits of sale will be outlined in the full announcement later this week.
A Parting Thought
IG have maintained, and will continue to demonstrate a community-centric approach. You have all proven to be firm believers of the IG vision as we aim to provide a unique value proposition to the billions of gamers around the world — together, using gaming as a vehicle, we have the ability to make a real positive change.
We thank all our community for your continued support and we look forward to sharing this incredibly exciting journey with you all!
We expect to carry out the first IG community Q&A this week!