Intergalactic Gaming send letter to the Galacticans
Intergalactic Gaming, the company behind the native cryptocurrency IGG, are very active and open with full communication to their token holders. Intergalactic gaming send Letter to the Galacticans ,an extensive progress report and a good example of communication with the community.
What is IGG:
IGG, or Intergalactic Gold, is the cryptocurrency/token of Intergalactic gaming, one of the premier tokens on the TRON blockchain platform, (the TRC-10 and TRC-20 tokens currently do not appear in the various charts and exchanges throughout wisecryptos, but our team of developers is working hard on a suitable integration. As the TRON platform is growing rapidly we will be featuring official press releases from these tokens as well as those on the existing “Mainstream” cryptocurrency exchanges). Intergalactic Gaming aim to revoltionize the global esports industry through digitalisation and tokenisation.
Intergalactic gaming send letter to the Galacticans
Naeem S and Josh R, 03/12/2018:
As we have continued to drive the tokenisation of the esports industry onto the Tron blockchain, Intergalactic ‘Gaming’ Gold (IGG) has quickly become one of the most successful tokens on the Tron network. We are in the process of building an infrastructure that will facilitate a borderless digital esports economy, creating a multitude of opportunities that will have a positive socio-economic impact across the planet.
As we progress through our roadmap, many more will be eager to join the Intergalactic family; inevitably there will also be those who are reluctant to accept change. Our journey started with a transparent letter to the TRON community. As hundreds of Galacticans join our ecosystem daily, we feel it is important to release a letter to our community with the aim of addressing some of the points surrounding the execution of our vision.
- Definitions & Abbreviations
- Opening Statement: The Journey So Far
- The 1 to 1 IGG Airdrop
- The IG Alpha Platform
- IG the Super Representative (SR)
- IGG — Where is the Value? Use Cases
- Liquidity, Liquidity, Liquidity!
- IGG / ‘Partner Tokens’ — 10+ Pairs Coming Soon to Tronscan DEX!
IG DEFINITIONS & ABBREVIATIONS
These abbreviations and definitions are highlighted for comprehending this letter:
- IG = Intergalactic Gaming, the company
- IGG = Intergalactic ‘Gaming’ Gold, the token that powers the IG ecosystem
- IGGalaxy = This is the IG ecosystem, which consists of a diverse range of stakeholders, held together by the IG platform and IGG
- Galactican = A citizen within the IGGalaxy
- Guardian = A status achievable by any Galactican whereby the individual is appreciated for the value that they have added to the IGGalaxy. They will act as the bridge between IG and the community, seeking to provide feedback to IG, whilst also informing and educating newcomers about esports on the TRON blockchain
Opening Statement: The Journey So Far
Our co-founders’ quest to change the world through esports, or competitive gaming began in 2015. Since, they have been working hard developing ideas and building on their initial concept.
Their mission is simple and has arisen from their own experiences. IG strongly believes individuals should be able to pursue their passion as a career. Why is it not possible for more people to sustainably make a career from participating and adding value in an industry that generates over $135 billion dollars? Our founders, along with millions across the planet, have spent countless hours playing games but have received nothing tangible in return.
They felt now was the right time to launch an assault on the esports industry, carrying out an IGG token sale to TRONICS between August and October 2018. This sale saw 2.5 billion IGG issued and over 30 million TRX raised to help support the execution of our vision. Over the past three months, we have nurtured our ever-growing community as we continue to operate with the core value of transparency. In such a short space of time, our Official Twitter and Telegram Channels have risen to just under 4,000 and 3000 members, respectively. Galacticans are flocking from across the planet, united by the vision for a tokenised esports economy that promotes accessibility and enhances monetisation.
We are presently working with twelve organisations, ten of which are endemic to esports, with many more in the pipeline. We are in talks with athletes, celebrities and online influencers who want to support our plan to bring competitive gaming and the IG brand to as many people as possible. We will look to provide the infrastructure for anyone to enter and navigate through the competitive gaming industry.
It was the TRON Network, specifically the underlying blockchain technology, that sparked our founders’ interest in applying blockchain to the esports landscape. We are therefore honoured to be in such a privileged position within the very ecosystem that sparked our passion for what is a life-changing technology. Through competitive gaming and our platform, we can educate and inform everyone about the benefits blockchain technology brings.
Please ensure you read our Lite Paper to understand our vision in more depth.
THE 1:1 IGG AIRDROP
We would also like to take this opportunity to clarify some of the issues raised following the 1:1 Airdrop that took place on Sunday 25 November.
We announced to the early adopters of our IGG token that we would carry out a 1:1 Airdrop to reward our community for the wide-ranging support they have provided over the last few months. That is exactly what we did. We distributed approximately 5.4 billion IGG on a 1:1 basis to thousands of eligible holders. To participate in our airdrops, we have required Galacticans to have verified IG accounts and wallet(s).
An airdrop of this magnitude takes time to deploy, hence we provided a four-hour period as to when the snapshot and airdrop would take place. The aim was to minimise speculative sell-offs pre and post airdrop by not explicitly stating the time of the snapshot.
The period specified for the snapshot and airdrop was between 17:00–21:00 UK time. We actually carried out the snapshot between 19:00–19:30, with the airdrop deployed an hour later. Despite our best efforts, a sell-off did occur prior to the snapshot even taking place.
Following the airdrop which doubled the amount of IGG in the marketplace, it was always likely that the overall value of an IGG would fall to less than half. However, as IG travels down its roadmap and IGG is utilised for its prescribed purposes, we expect the IGG token to maintain stable and organic growth.
IG believes that those who align themselves with the IG vision and add value to our ecosystem should be rewarded. Our 1:1 airdrop was a token of our appreciation for those who have played an integral part in our rise to prominence within the esports landscape; or for some controversy. This 1:1 airdrop was not for those who wanted to make a quick profit on IGG, but was to reward those with us on our journey. We have repeatedly mentioned that IGG is a utility token, however from time to time its value will be inevitably affected, amongst other things, by supply and demand.
THE ALPHA PLATFORM
Our Alpha web-based platform development progress is on track with the expected launch of Q4 2018. This is of course not the final product, just the very first step.
The purpose of the IG Alpha platform is to provide a foundation for us to build upon. The Alpha will be our minimum viable product, consisting of some of the core features. This will allow us to continuously test, gather feedback and improve before initiating the next phase. This structure for our development is designed to ensure that we are able to innovate, modify and refine every aspect of product design and development. This will result in a really relevant and impactful final platform that fulfils user demands and requirements.
Following the release of the Alpha, we will test and gather feedback whilst transitioning into the Beta phase of development. In our Lite Paper, you can view the publicly known intended components that we anticipate integrating into our platform during the Beta phase of development. But remember, this is what is publicly known; there is a lot more to come.
The core functionalities of the Alpha platform will include:
- User Sign Up/Login Function
- User Profile
- Wallet Integration — Send/Receive Tokens within the IGGalaxy
- Establishment of Team (IGG requirement)*
- Enter and Compete in IG Esports Tournaments
*We are looking to potentially burn a proportion of the the IGG required to establish a team on our platform and the TRON blockchain. As the number of teams on the IG platform proliferate, naturally the number of IGG tokens burned from the total supply will increase. More information regarding this, as well as other burn function, will be released when appropriate.
Following from the launch of our Alpha platform in December, we will look to host our first FIFA 19 tournament with a £2500 prize pool! We will release further details regarding this tournament in the coming weeks.
IG THE ESPORTS SUPER REPRESENTATIVE (SR)
On the 19 November 2018 we made our official SR announcement, stating our intention to become an elected SR. It had only taken two hours to break into the top 27, resulting in us beginning to produce blocks. Four hours into making this announcement, we were ranked second behind Sesameseed. This was an astonishing achievement; more importantly, it was an opportunity. We have now demonstrated that we intend to completely revolutionise the esports landscape through the collective power of our ever-growing community. Through the TRON Network, we will ensure esports as a whole can play an integral part within the TRON ecosystem.
Following the transition to Phase 2 of our SR Community Plan, a small portion of SR rewards (15%) will be allocated to further the adoption of esports on the TRON blockchain.
We will look to release additional information regarding our role as an SR within the TRON ecosystem. Our SR function will utilise our position to execute plans the further our overarching mission, whilst synonymously supporting the TRON network.
Please see our Official SR Announcement
IGG — WHERE IS THE VALUE?
Considering economics surrounding supply and demand, the value lies in the use cases and adoption. The IGG token will empower our platform to provide a multitude of opportunities for Galacticans to enter and navigate through the competitive gaming industry. Our features will enable users to make their IGG go further. By utilising the token for its prescribed use cases, individuals can earn IGG as they participate and value within our competitive gaming ecosystem. Real world use cases and involvement enable adoption of the token by users, partners, stakeholders and participants, consequently increasing the demand for the token.
Total Supply = 50 billion IGG
Current Circulating IGG Supply = 11.5 billion IGG
At present, there are over 385 million esports fans. However, this seemingly huge figure is dwarfed when compared with the 2.2 billion gamers across the planet. Esports is a young industry which has significant growth potential. The global revenue of esports is set to exceed the $1 billion mark in the next year, a figure that is expected to grow exponentially.
If a reasonable portion of the global revenue generated flows through the IG esports ecosystem, 50 billion IGG becomes a conservative supply to ensure our long-term vision of liquidity and stability for our tokenised esports economy.
The IG ship’s thrusters are in full force, showing no signs of slowing down. Over the past couple of months, our faithful Galacticans have filled their wallets with IGG in anticipation of our official release. As the airdrop hangovers begin to subside, we are sure you will have lots of questions. But the most important of all:
How exactly will IGG feature as an integral entity within the IG project?
The Intergalactic model aims to provide an online digital economy fully inclusive for gamers and stakeholders alike. Furthermore, those that add value to the IG ecosystem will be rewarded. It is for that reason that gamers, or stakeholders can play a fundamental role and benefit from the IG ecosystem. The idea behind the IG platform is to create a co-created global competitive gaming community; it is within this ecosystem that IGG will be utilised to bring a unique gaming experience.
Most people love sport; even more people enjoy watching sport. Looking at the sporting industry, we see a self-sustaining balance of participants, stakeholders and spectators alike. Through the interaction of competition and coverage, marketing and sponsorship we can therefore identify the areas that thrive within the sporting industry. Sport generates and will continue to generate billions annually. Many of you will no doubt be aware of surfaced reports pertaining the implementation of cryptocurrencies within the Premier League. Initiatives like these demonstrate the ability to take esports to the next level.
But is this entirely accessible? And if not, just how exactly do we intend to disrupt esports?
Our implementation of blockchain technology will ensure cheap, fast and secure transactions of IGG that will facilitate enhanced accessibility and monetisation of esports across the planet. More importantly, it will do so for the casual gamer, whilst offering a universal native digital token used for a global ecosystem which provides for a whole host of benefits. IGG will be utilised by gamers, teams, brands, professionals and the wider public.
Here are few uses to get you to think of the potential benefits IGG can bring to our ecosystem:
- Competition Ecosystem: IGG will be rewarded to players and teams for participating on the IG platform, regardless of result. All gamers will be able to earn IGG as they compete. Performance will be a big factor in determining how much IGG you earn via prize pools and other gamer centric features.
- Teams pay gamers a salary in IGG: Using smart contracts, we can facilitate the secure payment of salaries for players competing for their respective team. The ‘player contract’ will automatically enforce and execute the payment of IGG tokens per match completed.
- Galactic Grand Exchange (GGE): IGG will be the token used to purchase products or commission services. For example, users will be able to purchase the merchandise of their favourite team or users will be able to obtain coaching sessions, utilising IGG.
- Reward Schemes: We have integrated reward features that will incentivise the co-creation of a global competitive gaming community. IGG will be given as rewards for participation and adding value.
- Sponsorship: Sponsorship is the largest revenue stream within esports. It currently contributes 77% of the global revenue($694m) and is expected to increase to $1.4 billion by 2021. By bespoke activation plans and the use of IGG, we would ensure a good return on investment for the brand. Gamers, teams and other key stakeholders within the IG ecosystem can be sponsored with IGG.
You can see a number of our other prescribed use cases on our Lite Paper. We will look to release further information regarding our use cases in the coming months as we progress through our roadmap, including a few features that will provide a unique utility for our token.
LIQUIDITY, LIQUIDITY, LIQUIDITY!
Liquidity is something that is often overlooked when tokenomics are considered. We have had this at the forefront of our mind when designing the tokenomics of IGG and the ‘Partner Tokens’.
Liquidity in this context describes the degree to which IGG can be quickly bought or sold in the market, without affecting the token’s price too drastically. It is a vital ingredient for stable and organic growth. We are beginning to implement a plan to ensure liquidity of IGG that enables the token to be converted into other assets efficiently, without impacting the price.
Presently, there is unsubstantial liquidity to facilitate a tokenised esports economy. Although the DEX has introduced some degree of liquidity, the value of IGG is significantly impacted by purchases or sales of IGG tokens. Exchanges are the liquidity providers and so we will begin to pursue listing on exchanges following from the Alpha platform launch. This will ensure stability and sustainable growth of the IGG token.
IGG PAIRINGS WITH ‘PARTNER TOKENS’ — Coming Soon to Tron DEX
Soon, we will look to help our partner tokens get listed on the Tronscan DEX, where they will be paired with IGG. As previously stated, our aim is to create a layered tokenised model where IGG underpins a united esports landscape. This model will provide further liquidity to our ecosystem. As IGG becomes the base pair, traded with other tokens within the IG Galaxy, the demand for IGG will increase. We are already in talks with multiple exchanges to facilitate an IGG base pair, which will prove to be hugely valuable in adopting competitive gaming onto the TRON blockchain. Our tokenised model will essentially add value and provide extensive exposure to our partners.
Prior to the listings, the partners will create a document to provide our community with a further insight into them and their plans for the future. We will also have a dedicated space on our website for these founding stakeholders within our ecosystem. This will provide a central location where individuals can obtain further information regarding the current and future esports organisations that join our ecosystem. This would enable all to make an informed decision about whether they wish to support that organisation or not.
Listings will include:
- IGG/FFS[ForF1FA Sake]
More information will be provided on the listings when appropriate. We are now beginning talks with all of the respective organisations to discuss the intricacies of listing their tokens on TRON’s DEX (Decentralised Exchange).
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