To kick off the New Year, Binance announced that it would soon be launching new token fundraising each month through its Binance Launchpad platform.
Binance Launchpad is an initiative that helps blockchain projects raise funds and gain access to a more extensive network of supporters throughout the crypto sphere.
In addition to offering the option to fund the project by Binance’s ten million users, Binance also assists those blockchain projects by providing advice and mentorship.
As you can imagine, this application process is highly selective. For each project, Binance goes through a rigorous review process to identify factors such as relatively mature-stage project development and readiness for large-scale adoption.
Binance users can access each featured projects token by merely completing their Binance account verification (to ensure token offerings are being conducted only for users passed KYC). The current batch of projects that will be launched through Binance Launchpad are BitTorrent and Fetch.AI.
Could Launchpad help restore faith in the ICO model?
Binance Launchpad has been around for a while and did feature some successful projects in late 2017, including Bread (wallet) and GIFTO.
Ever since the bear market of 2018, Launchpad hasn’t promoted any new projects. The most apparent reasons are likely because of regulation affairs along with the bear market in general and especially among the dropping ICO market.
If this were the case, then the resurgence of Launchpad and the upcoming BitTorrent and Fetch.AI announcements may be an indication that Binance is regaining its trust in the ICO fundraising option.
The launching of new tokens via Launchpad looks as not only a bullish sign for the overall crypto market, but also a sign that some players in the crypto space still believe in the ICO model. Ultimately, based on the success and reputation of Binance, it seems like you won’t find a better filtering process for promising ICO projects than through Launchpad.
Any blockchain project that manages to go through Binance’s rigorous review process and gain their approval most likely has potential and should be paid close attention to. As always, you have to do your research before going for any investment.