Dubai, United Arab Emirates, April 20 — Web3 innovator BitSport has announced its latest project, NFT-IGO, a new way for gamers and streamers to monetize their gameplay and interact with fans. Similar to an initial public offering in the stock market or an initial coin offering in the crypto space, initial game offerings (IGOs) allow content creators, gamers, and streamers to create nonfungible token (NFT) card avatars that, when minted, will pay owners dividends.
This groundbreaking profit-sharing system, built on the Ethereum network, allows fans to mint an NFT of their favorite gamer and acquire a stake in their performance. As the gamers make a profit on BitSport’s existing decentralized application (DApp), NFT holders are paid a percentage depending on the tier of their stake. This first-of-its-kind, utility-backed method draws from all the best parts of sponsorship, merchandise and memberships — without the drawbacks.
“There are so many pump-and-dump NFT hype schemes out there and so many NFTs that have no real utility. Utility must be tied to an NFT. That’s how NFT-IGO succeeds where so many others have failed,” said Charles Adenuoye, CEO of BitSport.
BitSport, a blockchain-driven, competitive gaming ecosystem, rolled out in 2018. Since then, it has focused on reinventing GameFi, esports and NFTs by creating mass-market adoption via incentivization and welcoming traditional gamers, as well as their favorite games, to the metaverse.
What will the future hold for BitSport, NFT-IGO and its DApp? BitSport envisions an ecosystem where gamers are more than just consumers. It foresees a strong community of incentivized gamers, streamers and stakeholders, where players from rural India and Nigeria have just as many opportunities to succeed as ones in New York or Los Angeles.
Additionally, BitSport will commence its charity program, which will cater to millions of gamers in Africa and India, and also plans to build world-class gaming hubs in these regions, as seen on the NFT-IGO roadmap.
BitSport will host a Road to Dubai raffle contest for NFT- IGO holders. Winners will receive an all-expenses-paid trip to the BitSport Influencer Gamers’ Yacht Insta-Duel Match, live in Dubai on May 14. Entrants must be holders of at least a three-star BitSport Mystery Gamer NFT-IGO card to be eligible. The raffle will be held on April 28.
Numerous partnerships with high-profile gaming and music influencers are being announced in the days following the release of OzillaFifa’s NFT-IGO drop on April 19. Ozilla is arguably one of the most skillful FIFA players in the world, with more than 1 million followers on TikTok. He has been featured numerous times on the official EA Sports top goals of the week section. OzillaFifa’s NFT- IGO is available for minting among other incredible gamers’ NFT-IGO collections on BitSport.io.
- Charles Adenuoye, CEO of BitSport — firstname.lastname@example.org