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GameFi’s Common Terms You Can’t Miss (Part 3)

19 October, 2022

🧞‍♂️ Welcome back to the GameFi’s Common Terms series. In this third article, we will continue to learn more about terms that are usually used in the gamefi community, specifically common abbreviations. Make sure your vocabulary is prepared to dive deeper into this wonderful world!

💎 FOMO (Fear Of Missing Out): is a term used to describe the feeling of anxiety when missing an event, information, experience, merchandise, or life decisions that could potentially make your life better. In the crypto industry, it means to recklessly invest in trading cryptocurrencies without proper research and consideration.

💎 FUD (Fear, Uncertainty, and Doubt): is a strategy used to sway public opinions about certain cryptocurrencies or crypto markets, commonly executed by spreading false information, misleading articles, or vague reports. This phrase is widely used in the crypto community to refer to the volatility that emerges from people’s suspicion of cryptos.

💎 IDO (Initial DEX Offering): is a crypto token representing any kind of asset housed on Decentralized Exchanges (DEXs). Liquidity pools (LP) are crucial in the token launching process since they generate liquidity post-sale. IDO helps to manage assets and enhance products and services due to its variety in converting to things, and being a cost-effective way to distribute tokens.

💎 ICO (Initial Coin Offering): this is an innovative strategy to raise funds for projects that are typically connected to cryptocurrencies. Specifically, when businesses sell a new digital token or cryptocurrency to investors. Due to its unregulated nature, investors must conduct proper research and be vigilant when making investment decisions.

💎 IEO (Initial Exchange Offering): is a fundraising method for crypto projects who want to launch their new cryptocurrency and need considerable investment capital to do so. This method is considered to be less risky than ICO since investors perform transactions on centralized exchanges (CEX) rather than directly sending money to the project. And requirements from the exchanges make it almost impossible to be dishonest.

💎 INO (Initial NFT Offering): is using the same concept fundamentals from ICO and IDO, with new funding models where a set of limited NFTs are offered to the public investors for sale on launchpads or marketplaces. With the rising interest in NFT, this procedure has proved to benefit both creators and investors.

💎 IPO (Initial Public Offering): is a process in which a private corporation proposes shares of crypto assets to the public in new issuance. Many crypto companies raise their capital and attract public investors by this process. However, they must comply with the Securities and Exchange Commission (SEC) to hold an IPO, and are subjected to rules of further disclosures and transparency.

💎 IFO (Initial Farm Offering): is another type of fundraising model utilized by cryptocurrency projects in the early stages, by hosting pre-sale events for investors through DeFi projects like swapping platforms or DEXs. This method promotes peer-to-peer transactions and is deemed to be friendly for crypto newbies, with the maximization of DEX’s potential and securing features such as dual-margin intention and transparency.

💎 IGO (Initial Gaming Offering): is a popular crowdfunding approach among GameFi projects. In-game NFTs and tokens are put on sale as one of the initial steps, and access to the game’s early stages are made possible. Occasionally, these tokens and NFTs obtained via IGOs may be exchanged outside of the game environment on DEXs and NFT marketplaces.

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