29 Apr 2022
TCM May Updates
We are excited to bring you this very significant TCM product update!
This coming Tuesday (03.05.22) we will be introducing service fees into the TCM.
Within the TCM you will now be shown a service fee as part of the calculated section of the prize pool. Service fees are non-refundable and are applicable to all tokens currently supported by the TCM.
A base rate of 5% of the pool will be allocated to IGGalaxy as a service fee and is applicable to all tournament organisers excluding the following:
This service fee is paid as part of the pool payment and requires no additional transactions.
Please note that the service fee is only deducted from the remaining prize pool after 1st, 2nd and 3rd place prizes have been allocated.
You are free to pay from any wallet when it comes to paying for the tournament after creation is complete, however your GFT/ORB must be in your prize wallet to be accounted for.
On Tuesday 3rd of May those who hold the GFT ERC20 token will be eligible to swap them for the ERC1155, our latest IGGalaxy NFT.
This NFT marks the beginning of a collection that will creatively embody the journey of IGGalaxy as we continue on our mission of expansion and embracing new technologies that we believe will revolutionise the world, both in gaming and outside of it!
GFT NFT Utilities will include:
Additional utilities for the GFT NFT will become available as we continue to expand the functionalities within the platform.
These utilities will only apply to the ERC1155 token and not the original ERC20.
Want a sneak peak? Here is a work in progress video that includes a few different creative directions considered by the artist.
The final article will not be shown to you until Tuesday!