Explorers, we have another exciting initial game offering coming up – this time, it’s the Norma in Metaland IGO!
That’s right – Iskra’s first Web3 free-to-play cooking game is finally holding its own IGO on the Iskra Launchpad so mark your calendars because it’s happening from June 29 to July 18, 2023!
What Is an IGO and What Is Iskra’s Approach?
An initial game offering provides opportunities for the project’s community to support it at an early stage and bank on its potential once the project is launched and its token is listed on major exchanges.
The Norma in Metaland IGO is the second IGO conducted on the Iskra Launchpad and will offer 5,000,000 GRAM tokens for an unbelievably low IGO price of $0.01. You can soon check out these details on Cryptorank.
IGOs are typically used to raise funding and provide a major benefit for early investors, but sometimes, this may lead to negative results and perceptions when executed poorly.
Iskra is re-defining the IGO for Web3 games by improving participation with a low price but managing a limited sale to protect future tokenomics. The idea is to use the IGO truly as a launch event to kick off the game and focus on the longer-term potential of the product.
How Will the Norma in Metaland IGO Work?
The Norma in Metaland IGO event is divided into Pioneer Round and Explorer Round.
IGO tokens are locked and will start vesting once the Norma in Metaland IGO is completed after the Explorer round. Vesting frequency is done monthly for 12 months.
How Do You Participate in the IGO?
Here are two SAMPLE SCENARIOS of how the IGO will play out in the Pioneer Round and the Explorer Round:
Pioneer Round
- Purchase $100 worth of GRAM tokens. If the allocation does not sell out, you’ll get $100 worth of GRAM tokens (10,000 GRAM tokens).
- Purchase $100 worth of GRAM tokens. If the allocation is sold out and there is more demand, you will get your share of the available supply depending on your contribution. If your contribution is 5% of the total amount subscribed, you will get 5% of the GRAM token supply or 125,000 GRAM tokens. You will be refunded the balance of the amount that you were not able to purchase in this case.
Explorer Round
- Purchase $100 worth of raffle tickets. If the allocation does not sell out, then you get $100 worth of GRAM tokens (10,000 GRAM tokens)
- Purchase $100 worth of raffle tickets. If the allocation is sold out and there is more demand, your 100 raffle tickets will go into a raffle with everyone else’s. Out of that total amount of tickets, 25,000 tickets will be drawn and the winner of those tickets will be given $1 worth of GRAM tokens per ticket won. If all 100 of your raffle tickets are chosen, you will be allowed to obtain $100 worth of GRAM tokens (10,000 GRAM tokens). Likewise, it’s possible you can only buy 1 ticket or $1 worth of GRAM tokens or even none.
Benefits of the GRAM Token
GRAM tokens can be exchanged for Norma in Metaland’s utility token and essential in-game currency CANDY and vice versa. This opens a whole world of opportunities for casual gamers who love the challenge of cooking games while enjoying its P2E potential by having the power to monetize their game achievements.
As the governance token of the GRAM Protocol ecosystem, holders of GRAM tokens can become members of the DAO by staking GRAM and earning sGRAM, which allows them to propose on the direction and vote on important issues regarding the Norma in Metaland project.
Lastly, GRAM also serves as an incentive token for the Norma in Metaland community that work together for the growth and development of the whole project. To learn more about GRAM, you can check out Norma in Metaland’s whitepaper here.
Keep an eye out on our Twitter for more details about the upcoming Norma in Metaland IGO.
About Iskra
Iskra is a single-destination Web3 game platform for developers and players that rewards them for their contribution and participation through a unique community system on the blockchain. This allows stakeholders to take a major part in building the platform for future growth.
Current services include a wallet, DEX, marketplace, NFT Mission Card (daily reward), governance staking and voting, and soon-to-launch Web3 casual and hyper-casual games.
Backed by some of the biggest technology and video game companies in South Korea, Iskra ranked in the top categories for gaming in Dapp Radar for unique active wallets per day and engagement.
Explore the future of play!