Good Games Guild initiates MetaversePad — their Next-Gen multichain launchpad for metaverse and blockchain game projects. Alongside providing convenience in terms of transactions, MetaversePad will also live to bring speed and security to users.
What is a Launchpad
In the blockchain sphere, a Launchpad is a platform that allows blockchain-based projects to raise capital by offering early-stage investors a way to join in and acquire assets before a public sale happens.
Crypto Launchpads can be compared to Kickstarter for the blockchain space. They help upcoming projects to raise funds while giving early adopters a way to maximize their profits.
MetaversePad Fundraising System
According to their GitHub Documentation, MetaversePad will have 4 options to raise capital:
- IMO (Initial Metaverse Offering – whitelist system)
- DHO (Diamond Hand Offering – non-whitelist system)
- Auction/LBP (Fair launch)
- GAO (Game Asset Offering / NFT Sale – whitelist system)
As of now, only IMO and DHO are fairly documented.
What is an IMO?
IMO stands for Initial Metaverse Opening. Nothing new here, we are used to the I[INSERT A LETTER HERE]O structure. The team just wants to emphasize the fact they will focus on metaverse projects.
The IMOs will be split in 5 different phases:
- Whitelist Open
- Whitelist Closed
- Whitelist Winner & Allocation announcement
- Initial Metaverse Offering Date (Phase 1)
- First Come First Serve— FCFS (Phase 2)
Like many other launchpads, GGG decided to employ a tier system to manage their IMO and capital allocation to the projects. You will need to stake GGG tokens to participate. The GGG token is a Binance Smart Chain token and is available on Gate.io, Kucoin and PancakeSwap.
MetaversePad Tiers System
Participants in the upcoming IMOs will be assigned to a tier group, depending on the amount of tokens staked.
- Tier 1 = 150 GGG token staked (lottery) — weight 1
- Tier 2 = 500 GGG staked (guaranteed) — weight 2
- Tier 3 = 2,000 GGG staked (guaranteed) — weight 9
- Tier 4 = 5,000 GGG staked (guaranteed) — weight 25
- Tier 5 = 10,000 GGG staked (guaranteed) — weight 55
The tier 1 participants will enter a Lottery System. Tier 2 to 5 will get a guaranteed fund allocation in relation to the weight of their tier.
Diamond Hand Offering
Have “diamond hands” means that you hold onto an investment no matter what. You don’t sell it regardless of volatility, losses or gains and you are in for the long term.
According to MetaversePad’s website:
“Diamond Hand Offering is an offering for the strongest holder, participants will stake and lock $GGG token for a certain period and earn a reward of the project which will be listed on the DHO Platform. Stakers don’t need to buy and earn instantly by participating in DHO. There is no tier system and reward will be divided pro-rata among stakers” — source
What Makes MetaversePad Different
There are tons of Launchpads out there, including the popular Seedify Fund.
However, what makes MetaversePad different is the guild behind it. GGG has a proven track record of investing in successful projects (they were early investors in Axie Infinity), supporting millions of play-to-earn gamers worldwide, and managing assets for the biggest communities in the crypto space. Although still in its infancy, MetaversePad already has three upcoming projects.