FTX's New IEO: IndiGG to Introduce Play-to-Earn Model, Empowering 400 Million Indian Gamers to Create Economic Opportunities

FTX has announced the launch of a new IEO presale, and below is a summary of the rules for the IEO project IndiGG:

According to FTX's announcement, this IEO is for IndiGG, a decentralized gaming guild under Yield Guild Games, a DAO (decentralized autonomous organization), with the aim of establishing a Play-to-Earn gaming guild in India to create economic opportunities for the country's 400 million gamers.

The rules for participating in this IEO are the same as the previous one, with a significant reduction in the amount of FTT required for staking, in the hope of encouraging more users to participate.

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IEO Auction Rules

According to the FTX subscription page, the IEO auction will start on March 8th at 9:00 PM Taiwan time. Users who wish to participate in the auction must stake 150 FTT 24 hours prior to the start and pass Level 2 KYC.

The total number of subscription tickets for this event is 3,000, with each ticket entitling the holder to 4,000 INDI tokens, totaling 12 million INDI tokens. The minimum subscription price per ticket is 350 USDT, and the maximum is 400 USDT + 5 FTT.

Participants need to create a sub-account named "INDI-IEO" and transfer the subscription funds to the sub-account. If the subscription is successful, the funds in the IEO account will be converted to INDI tokens within a few hours. If the subscription fails, the funds will be fully refunded, and the FTT tokens subscribed successfully will be burned.

Auction Terms Summary:

1. Stake 150 or more FTT (≥ 150 FTT) and pass Level 2 KYC on FTX by 9:00 PM on March 7th
2. Create a sub-account named "INDI-IEO" and transfer the subscription funds
3. The minimum subscription price per ticket is 350 USDT, and the maximum is 400 USDT + 5 FTT (the latter is recommended)
4. Additional FTT staked will qualify for more subscription tickets in the auction

Introduction to IndiGG

IndiGG is a DAO under Yield Guild Games (YGG), supported by the leading players in the Web3 space, YGG and Polygon. It is the largest gaming guild in India, aiming to establish a Web3 gaming ecosystem in India and promote "Play-to-Earn" (P2E) gaming guilds.

In the past, YGG has invested in games such as Axie Infinity and The Sandbox, earning income by selling or renting game NFTs. With YGG's support, IndiGG will invest in games on the Polygon chain through guilds, attracting more players to join the P2E ecosystem through methods like "scholarships."

Furthermore, through Polygon Studios, Indian players can enter Polygon's GameFi ecosystem to experience blockchain games, including Zed Run, Skyweaver, and Decentraland. According to the official website, IndiGG has partnered with several games, including Axie Infinity, Pegaxy, Fancy Birds, Cyball, Wonderhero, Synesis One, and Epiko Regal.

India has approximately 400 million gamers, with 100 million players who purchase game assets or applications. The gaming market's economic scale is as high as $2.2 billion and is continuously growing, with an estimated future average annual growth rate of about 30%. This has garnered support from traditional gaming companies like Nazaara, Mobile Premiere League, Hungama, and Winzo, among the largest gaming companies in India.