Binance Launchpad has seen a lot of success recently with the launch of BitTorrent token, BTT. The token sale ended within 18 minutes, and Binance’s CEO, Changpeng Zhao, stated that the sale would have ended instantly if not for the system issues.
Both sessions concluded. Took about 18 minutes, due to a system issue, would have taken 18 seconds otherwise. Demand was astronomical.
— CZ Binance (@cz_binance) January 28, 2019
The launchpad seemingly experienced an overload, despite the preparations that Binance made prior to the event. The high demand has since been used as proof that there is still high interest in the crypto space, particularly in the Launchpad-backed projects.
Binance Launchpad’s next token sale — Fetch.AI
Following the BTT token sale, Binance has announced that another one will soon take place. The new token, Fetch.AI (FET) will commence sale at 2019/02/25 2:00 PM (UTC), according to Binance’s announcement.
The total supply of FET will include 1,152,997,575 tokens, while the price per token will be set in Binance Coin (BNB) on the day of the launch. The token sale is scheduled to last until 2019/03/02 2:00 PM (UTC).
Can the Launchpad bring ICOs back?
Binance Launchpad is an initiative that can help new projects raise funds in a safe environment with an extensive network of supporters. Apart from providing access to all of its ten million users, Binance also helps projects by providing mentorship and business advice. The idea behind Binance Launchpad is to hold token fundraising each month, and so far, the initiative has been very successful.
Binance is also known for being highly selective when it comes to choosing which projects to support, with only BitTorrent (BTT) and Fetch.AI (FET) being announced as of yet. With BTT already being sold out, FET is next.
Launchpad has been active for a while, but it restrained itself from promoting any new project since the market crash of January 2018. Launching of new projects may be a bullish sign for the crypto market, but also an indication that the ICO model still has supporters within the crypto industry.