# IEO / NFT IEOs are a more restricted type of token issuance, as, unlike ICOs, they require a trusted third party to operate. In this case, the third party is usually an accredited exchange. An IEO can happen in two ways: through the exchange or by a third party using its platform. The first model is the most common and with the most successful examples. The exchange creates and distributes your token. The fundamental factors that institute IEOs are: * Security and credibility of a platform recognized in the market; * With an IEO, the user has access to a large consolidated customer base; * The token has a greater chance of being traded and, therefore, gaining liquidity in the market; * Exchanges have risk assessment mechanisms for each project, reducing the possibilities of fraud and losses for the investor. --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://pubgame.gitbook.io/whitepaper/ieo-nft.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.