Gaming has become one of the biggest industries in the world — including the crypto industry. Blockchain gaming projects like Decentraland (MANA) and Sandbox (SAND) have quickly turned into massive billion-dollar ventures. Naturally, many investors are looking for the next big project to invest in, and many entrepreneurs are looking for resources and guidance to maximize their gaming venture’s growth. One project that’s aiming to address both of these demands is Seedify.fund (SFUND), a blockchain gaming incubator and launchpad. SFUND is currently trading at $4.78 per token with a circulating supply of 24.5 million, for a market cap of $117 million.
What Is Seedify?
Seedify.fund (SFUND) is a community-driven incubator and launchpad exclusively for blockchain gaming projects. Seedify provides a variety of resources for start-ups, including seed money, developmental advice and feedback, and a launchpad for initial game offerings (IGOs)
Seedify also offers value to its community of investors and token holders by giving them exclusive access to IGOs hosted on the Seedify Launchpad. This provides the opportunity to invest in blockchain gaming projects before they’re publicly released. Additionally, Seedify allows its token holders to influence Seedify’s direction through a decentralized autonomous organization (DAO).
What is Seedify Fund’s IGO?
An IGO (Initial Game Offering) is a method through which blockchain gaming companies can raise capital for the development of their project. An IGO is similar to the initial product offering (IPO) used by traditional stocks and the initial coin offering (ICO) used by many cryptocurrencies.
Thus, Seedify Fund’s IGOs enable their investors to invest in the game and its assets before they’re released publicly. This often allows the investor to enter at a lower price than the eventual public listing. However, investors also carry the risk of losing their investment in the event the project fails to develop or launch.
Seedify IGOs (Source: Seedify Twitter)
How to Use Seedify?
Seedify offers the following three-step process for its start-ups.
1. Seed Funding & Incubation
Projects hoping to join the Seedify incubation program must first apply on the Seedify website. Approved projects will then be provided with seed funding from Seedify’s network of venture capital firms and angel investors. In addition to funding, these start-ups will also receive continued support and guidance through crowdsourced community feedback and specialized expert advice.
2. Launching on the Seedify Launchpad
After the initial incubation stage, the start-ups can launch an IGO on the Seedify Launchpad. Start-ups can also skip the incubation stage and apply directly to launch on the Seedify Launchpad.
The launchpad is the product that offers the most utility to Seedify’s token holders. Seedify’s IGO system aims to achieve fair distribution, rewarding investors who hold more SFUND tokens. This is done by assigning investors a different weight depending on how many SFUND tokens they hold. There are nine tiers, ranging from 250 to 100,000 SFUND, and each tier is assigned a different weight. At the end of the IGO, the total weight of each wallet is added up and the portion of the IGO tokens each investor receives is equal to the portion of their weight relative to the pool’s total weight.
For example, according to the chart shown below, if John holds 10,000 SFUND, he would be assigned a weight of 26. If 1000 investors at different weight tiers participated in the IGO and collectively reached a total weight of 20,000, John’s proportional weight would be 0.13% (26/20,000 *100). Thus, John would be entitled to a maximum of 0.13% of the total IGO coins available.
Launchpad tier system (Source: Seedify Blog)
3. Seedify Governance
Governance of Seedify and its launchpad is run through a community DAO. The DAO has a direct say on many issues, including:
- Which projects get funded and incubated.
- Product features and their numerical parameters.
- Community involvement mechanisms of the incubator.
- The yearly roadmap after the core products are complete.
- Resource management and distribution parameters through rewards.
Utilizing a DAO allows Seedify to operate in a decentralized manner, while also providing further utility and value to Seedify token holders.
Did Seedify.fund Rebrand?
Today’s Seedify is quite different from the version described in its initial whitepaper. Seedify was conceptualized as a crowdsourced incubator for all types of crypto start-ups. However, it has since undergone a major ideological shift and is now a hyper-focused launchpad and incubator exclusively for blockchain gaming projects. According to the Seedify blog, this decision was primarily motivated by the increasing competition and saturation within the generalist crypto incubation market.
Whether this change was the right decision cannot yet be determined, and frankly does not need to be. It’s instead important for prospective investors to simply be aware of these changes, and to ensure that their investment decision is based on an accurate understanding of the project and its direction. Prospective Seedify investors should still read the initial whitepaper, as parts of it remain relevant, in addition to reading the various updates posted on the Seedify Blog.
Seedify V2 (Source: Seedify Blog)
Who Is Behind Seedify?
Seedify was founded by Levent Cem Aydan, a former USC student with experience in blockchain entrepreneurship. Aydan was inspired to create Seedify after feeling frustrated with the traditional venture capital and private equity industry. He was frustrated by both the high quantity of equity that traditional venture capitalists demanded, and the closed-minded attitudes many venture capital firms had toward crypto, blockchain, and web 3.0 projects.
Seedify launched with no outside investments, no initial DEX offering (IDO), and no private sale investors, instead opting for a completely community-driven launch. Despite not receiving any corporate seed funding, Seedify has developed a wide network of corporate partners who are contributing to the project’s continued development. These partners include venture capital firms like NGC Ventures, Basics Capital, Everse Capital, and Pluto Digital, all of whom will be providing seed funding for the start-ups within Seedify’s incubation program. Seedify has also brought on strategic partners like Blockchain Game Alliance and The Grow Group, who will be helping build Seedify’s market and brand.
SFUND Price History
Seedify’s native token SFUND hit an all-time-high (ATH) of $16.41 in November 2021 before dropping to its current price of $4.78, a 70% decrease. Macro-level events had led to major crashes across the crypto market, causing a 34% overall drop. And crypto gaming projects were hit harder than the market-wide average. For example, Decentraland (MANA) dropped 58% from its ATH, and Enjin (ENJ) dropped 69%. The likely explanation for this disproportionate effect is the newness and hype surrounding the blockchain gaming industry. The meteoric rise of the Metaverse, NFTs, and gaming projects was largely driven by FOMO and speculation rather than fundamental understandings of the projects. Thus, when the wider market crashed, many of these more-speculative gaming projects took the largest hit.
Since the initial crash, SFUND has yet to find much stability or support, and is still down 25% on the month. That said, SFUND is showing a little bit of promise and is now up 15% on the week.
SFUND’s all-time performance (Source: CoinMarketCap)
SFUND is still a new project and has yet to develop a strong foundation of its own. As of now, expect SFUND’s price to follow closely with the blockchain gaming market’s overall price movement.
What Is The Future of Seedify?
Blockchain gaming is almost certain to continue growing in prominence, and Seedify has positioned itself to be a key player in the launching and development of future projects within the industry. Seedify’s specialization in blockchain gaming provides it with a distinct advantage over larger, more general launchpads.
Not only is Seedify well-positioned for growth, but also the team behind Seedify has already announced an array of future developments that will likely help Seedify advance:
- Seedify Game Studios: Seedify is creating a studio that employs art directors, game designers, character designers, FX artists, play-to-earn model designers, animators, in-game economists, game developers, and more. The exact function of this game studio has yet to be announced. However, Seedify did hint that they are looking to use the game studio to increase the quality of the games that launch through the platform.
- Seedify Game NFT Launchpad: Seedify is planning on creating an NFT-specific launchpad that will host initial NFT offerings (INOs). This will provide additional value to Seedify Launchpad start-ups, many of which hope to integrate NFT sales into their games. Furthermore, this will also provide SFUND token holders with even more utility and value.
- Metaverse expansion: Seedify is preparing to launch the Seedify Meta Studio, which aims to develop projects and assets for various metaverse projects. The team has also recently announced a $10 million grant program for artists or teams to create new metaverse asset collections for Seedify. Plus, Seedify recently bought a 36 plot (6×6) of land in The Sandbox, which will allow it to integrate its community into the Sandbox metaverse.
- Product improvements: Seedify is aware that as a new project, it still requires improvement and optimization in many areas. In particular, the team is working to improve user experience in the launchpad, create an easier onboarding process, develop more educational resources for users, and revamp the design and branding of the Seedify website.
Overall, Seedify has released a detailed roadmap for 2022 and has communicated a clear plan for the future. This forward-thinking approach, combined with the bright future of the crypto-gaming industry, undoubtedly bodes well for Seedify’s ability to succeed.
Seedify is a promising launchpad and incubator for blockchain games. The blockchain gaming industry is a lucrative market that will only continue to grow, and Seedify is well-positioned to take advantage of these gains. Seedify has a strong future with a well-developed roadmap and strong strategic goals. Those looking for a unique way to get involved in the crypto-gaming sphere — beyond investing directly into specific games — should give Seedify strong consideration.