IG Q2 Progress Report: 01/07/2019

Over the last week, we have released in-depth information relating to the full developmental progress of the IGGalaxy; specifically the competitive aspect and IGLabs. Development is deep underway, and we have provided an in-depth focus on what is in store for the platform over the next month, which also includes analysis, rationale and expected outcomes.

Competitive Platform Update:

IGLabs Platform Update:

As much of our community will recognise, updates are important to Intergalactic Gaming (IG). They provide us with the opportunity to share business and platform developments as well as prospective plans. Most importantly however, they provide us with an opportunity to reflect on the positives, generic and specific areas for improvements, and our appreciation for the IG community. IG has been founded upon the principles of reward and transparency, whilst many more will join the journey, we intend to continue upholding these values.

Similarly to previous quarterly reports, we will be sharing the views of our community throughout.

Reflection

Entering Q2 with our minimum viable product, strategically allowed us to exploit existing relationships with educational establishments and those we had laid our initial plans to. We have been extremely vocal with what we wish to achieve, so these relationships provide us the necessary space to begin making a positive socio-economic impact, both in the UK and globally.

Having our prototype to the IGGalaxy, we have been able to clearly demonstrate the need for the application of our solution. Moreover, we have received positive community feedback, from tournaments, to further validate IG’s ability to evolve the future of competitive gaming: socially, economically, and for some, professionally. Furthermore, formerly known as the IG ‘freeze function’, we have successfully launched the first phase of IGLabs, where the full development of quests will commence in Q1 2020.

Q2 2019 has been one of the quieter periods of the IG journey, as is always
the case when teams are head-down developing something seminal.

Galacticans United at Copenhagen Games!

At the end of last quarter, Galacticans United signed their first CSGO roster, Team Tripping. This was the first time Team Tripping, an all-female team of five situated around Europe, had competed together at a live event under the Galacticans United brand.

Not only was this event important exposure for our Galacticans United roster, but we also caught up a few of the events participants as we strive to cement ourselves firmly within the competitive scene.

First Videos of IG Platform Released!

At the beginning of this quarter, we introduced the team creation feature that will serve as an integral component to the future of the social competitive IGGalaxy. The current price for establishing a team on the IG platform is 1 million IGG, where 50% of that is burned immediately upon creation. Galacticans United became the first team established on the platform. Soon, we will invite more users to establish teams in the IGGalaxy, where we will witness a proliferation of teams, both professional and grassroots, competing and engaging in our socially inclusive competitive ecosystem.

Find out more here:

University of Manchester: Start-Up Your Future

In May, IG attended the ‘Start-Up Your Future’ insight day and the University of Manchester’s (UoM) graduate careers fair. Experience is key to any organisation, especially an organisation in its first year of operation. Passion, and the desire to change the world around you for the better, however, does not necessarily rely on experience. What we have found, looking at the innovation of TRON and wider technological industry, is that the importance of the latter has the ability to transcend experience. For this reason, opening our recruitment to the Computer Science graduates of tomorrow brings with it an opportunity to seek raw talent, that like us, can utilise their skillset to provide a solution to problems faced by many gamers today.

Aside from recruitment, the event also brought the opportunity to spread awareness of the IG brand to students, our main target audience. We will continue to work closely with the UoM, as well as other educational institutions; we look forward to sharing the developments with you all at the appropriate time…

Our Co-Founders Attend House of Lords!

Following on from the careers event, our co-founders were invited to the House of Lords for an inaugural event hosted by the UoM. Insightful and promising discussions were held with a diverse network of alumni, as our co-founders outlined the direction Intergalactic Gaming plans to take the competitive gaming industry. We are thrilled to have been invited to the event and would like to extend our gratitude to the University of Manchester for providing a platform for exposure.

In the next half of 2019, I look forward to increased exposure of the IG platform amongst gamers and streamers, increased marketing and branding campaigns leading up to the much-awaited platform launch in Q4 2019. It is going to be as exciting as ever, and I can’t wait for it!

IGG Trading Area on TRONWatch Market (TWM)!

This quarter saw the first IGG trading area launched, providing further utility for IGG and liquidity for many other token ecosystems. This trading area is an important milestone in our long-term vision of building a virtual token economy interconnected by the central IGG token.

We end the quarter with six TRC tokens in the IGG trading area on TWM. Five of the six (ORB/DEG/SEG/MGG/PRO) are presently exclusively tradable with IGG.

  • IGG/ORB
  • IGG/DEG
  • IGG/SEG
  • IGG/MGG
  • IGG/PRO
  • IGG/TWX

We will work collaboratively with our partners to provide Galacticans with further insights into the various projects behind these tokens. We strongly advise all community members to do your own research when looking into any project. These tokens should not be bought as investments as cryptocurrencies are volatile, meaning prices are highly susceptible to fluctuations.

IGGy Update: Welcome New Galacticans!

As we expect to see many more faces entering our IG Telegram channels, IGGy, our Telegram bot has been updated. New members entering our channels will see a generic overview of our complete progress so far, which covers current exchanges, progress reports, partners, and so on. We have eight Telegram channels in the following languages:

Gokhshtein Magazine Interviews Intergalactic Gaming!

We are deeply thankful to Gokhshtein Magazine for providing Intergalactic Gaming with a platform to outline our vision for a tokenised competitive gaming landscape. IG features in June’s edition of Gokhshtein Magazine.

Social Media Stats

IG Token Economics

IG Gold (IGG)

IGLabs

IGG in Capsules are ‘frozen’ for a fixed period of three to 30 days, producing ORB tokens during the ‘lock-up’ period. ORB tokens will be able to be used in the IGLabs application or sold back to IGLabs for IGG. 50% of all ORB tokens sold back to IGLabs are then burned immediately.

IGG Token Burn Update

This quarter, we introduced a deflationary mechanism that would seek to maintain a steady value of the IGG token itself. In our first month, we burned 100 million IGG from the circulating supply and have added further deflationary mechanisms since, the most recent in the IGLabs application where 0.2% of IGG per capsule is burned.

As it is the first of the month, we are due our monthly token burn. At 16:30 (UTC) 54,682,342.14 IGG was burned from the total circulating supply!

Token Swap Update

GSG:
Users on the IG platform will find that the GSG token swap is exclusively available via the IG wallet. Holders must have their wallet (with GSG) synced to the IG platform if they wish to carry out this function; there is no token swap address.

Total GSG Swapped (to TRC20 IGG): 49,528,868,566/100,000,000 (15:04)

TRC10 IGG:
As of today, over 91.15% of all TRC10 IGG tokens have been converted to TRC20 tokens; with only 417,736,653 TRC-10 IGG left to be swapped, we may soon remove this function. Thereafter, the remaining TRC10 IGG tokens will need to be swapped by contacting a member of the IG or admin team on Telegram.

Portfolio Support Trackers

IGG on CoinMarketCap!

On Thursday 27 June, IGG became the first TRC20, and second TRC token, to officially list on CoinMarketCap!

The recent listing on CMC as the first TRC20 token is surely the icing on the cake as IG prepares itself for increased exposure ahead of its public launch in Q4 2019.

This is a fantastic achievement by any feat; it serves as a key indicator of the hard work of our IG team, as well the community who have shown amazing support in our journey so far.

With this listing, comes the opportunity to really place Intergalactic Gaming on the map. When we first joined the TRON ecosystem towards the end of July 2018, we were thrilled to receive such a warm welcome from the community — in all honesty, however, this did not surprise us. Gaming is huge. The vast majority of us have some affinity with gaming in some capacity; whether nostalgic, social, professional or simply the enjoyment of watching others compete, gaming has the ability to connect us.

For my whole life I’ve always been a gamer. From playing MW2 with my friends, to FIFA, 2K and everything in between but I had never gotten into the esports side of it but that all changed dramatically. Twitch is a regular in my life these days as is the family we have built on telegram. From smashing the lads on FIFA to embarrassing myself in tourneys it’s had it all.”

This is certainly the case for IG. Our ecosystem promises excitement and engagement; from our social channels, to the IGGalaxy itself, we have set ourselves up to completely evolve the competitive landscape as we know it. There is a clear need for the application of our Intergalactic solution, and thus, feel confident that exposure to a large audience on CoinMarketCap (512k Twitter following), will provide adequate momentum as we approach the end of the year. Naturally, the higher the exposure, the greater the chance of new IGG holders entering the ecosystem, which will subsequently support the liquidity of the IGG token economics.

Over the coming months, we will be expecting waves of new users entering the ecosystem; notwithstanding, we will continue to hold close, the values of community; transparency; and focus. Equally, we are calling on our early adopters to make new members of our community feel welcome and provide assistance in terms of insight where necessary.

SR Update: Patiently Waiting…

At the beginning of the quarter, Intergalactic-Gaming fell out of the top 27 after six months as elected Super Representatives (SR) on the TRON network. Although disappointing, this is the nature of democracy; we all accept that we can lose our position as elected SR’s at any time. In spite of this, we will continue to make vocal, our concerns regarding the increase in projects entering the top 27 with little, if any, perceivable community presence. Although the concept of staking TRX in favour of projects so that they can become SR’s promises democracy, the nature of TRON’s voting consensus can be susceptible to “manipulation”.

If you would like to read more about the decline of the community SR’s, you can do so below.

We had previously stated that we would drive awareness to, and support the mainstream adoption of, TRON (and TRX) to esports and grassroots teams, players and gaming audiences alike. As avid gamers ourselves, we understand the true value the TRON network can has to offer. To date, we have distributed over 45 million IGG (over $8500 at current value) to participants of our tournaments, many of whom previously external to the TRON and wider crypto community. These participants have since been holders of IGG and TRX as well as active members within our IG player Discord groups; what’s more, they continue to tell their friends and we are seeing our player base grow! Considering the growth projections for the competitive gaming industry, generally, and the momentum we gain as we approach the public launch, we can expect to witness a huge avenue of adoption via the IG platform!

“What attracted me to IG was the perfect match between crypto and gaming. I heard about IGG on Twitter and started doing some research about esports! I was amazed about how big esports were and how much money was spent on an ineffective industry. Esports is big for IG and will certainly be able to attract a large number of gamers!”

Whilst not essential, holding a position within the top 27 elected SR’s better equips us to ensure that competitive gaming (and esports) remain at the forefront of innovation as TRON matures out of infancy into the mainstream. Nevertheless, we will be bullish in our attempts to reclaim a spot as elected SR’s. In our current position (32), we are receiving ~500 TRX daily: 100% is used to buy and burn IGG from the total circulating supply.

Over the past few weeks, I have been excited to see all the various aspects of IG’s vision slowly but surely come to fruition — right from the decision to develop an IG sidechain on the SUN Network to the long awaited freeze function as a means to deliver value to IGG holders.

In a later document, we will outline our proposed distribution plans for our re-election and subsequent phases after that.

Looking Ahead

I would like to remind everyone that Bill Gates said that what can be done in 1 year is often overestimated and what can be done in 10 underestimated. And yet IG is going at it for less than a year right now and has amazing stuff to show for it.

The next two weeks, in particular, will be extremely busy for IG. Behind the scenes, we are laying essential foundations that will be integral to our overall plans for expansion. In terms of business development, we will be continuing our pursuit of partnering with grassroots teams as we look to consolidate regular leagues and tournaments that will begin to engage our eagerly awaiting community.

In addition, we will be significantly revamping our marketing strategy to ensure we have the appropriate momentum as the Q4’s public launch fast approaches. As such, we will begin so by deploying our Twitch streaming schedule, consisting of live updates from IGHQ and a series of Q&A’s fielded by members of the community.

As always, we would like to end with a massive thank you to our community. It is your support that drives us to fulfilling our mission to evolve the competitive landscape. We look forward to another exciting quarter ahead with many more a part of the journey!

To keep up to date with developments, please follow us on our various social media channels:

Website: www.iggalaxy.com
Twitch: https://www.twitch.tv/igg_esports
Discord: https://discord.gg/5kx4tKR
Reddit: https://old.reddit.com/user/Intergalactic_Gaming
Twitter: https://mobile.twitter.com/IG_Galaxy
Facebook: https://www.facebook.com/IGGalaxy/
Instagram: https://www.instagram.com/intergalactic_gaming/
LinkedIn: https://www.linkedin.com/company/intergalactic-gaming
Medium: https://medium.com/@IGGalaxy
Telegram: https://t.me/IGG_Official
CoinMarketCap: https://coinmarketcap.com/currencies/ig-gold/

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Building a next-gen social competitive gaming and esports platform that empowers gamers and teams! 👽