A significant transformation is reshaping crypto fundraising as more Web3 startups bypass traditional venture capital in favor of large-scale, institutional crypto crowdfunding platforms. Industry pioneers like CoinList and Republic, along with Bitget LaunchX, Cobie’s Echo, the fast-rising SeedList, and Kaito Capital Launchpad, are driving this change. These platforms are not only securing funding for early-stage crypto projects but also providing community growth, token utility, brand development, and operational scalability from day one.
This shift is being driven by the popularity of public sales, improved token distribution mechanics, and growing dissatisfaction with closed-door VC rounds that exclude retail supporters. With over 100 token sales forecasted for the second half of 2025, crypto founders are turning to launchpads that prioritize speed, reach, and fairness. What began as a niche fundraising method is now becoming the go-to strategy for Web3 teams aiming to reach the CoinMarketCap Top 100.
The Expansion of Multi-Platform Token Launches
WalletConnect’s WCT token launch earlier this year demonstrated how powerful these platforms have become. Spanning CoinList, Bitget LaunchX, and Echo, the WCT raise brought in $10 million and set a new benchmark for success:
- Bitget LaunchX sold out a $4 million allocation in under two hours, with over $170 million in pledges from 40,000 contributors
• CoinList drew in more than 18,000 users across 100 countries during its public sale
• Echo’s $500K private raise filled in just 11 seconds, showcasing strong momentum and infrastructure readiness
Following that success, CoinList, a spinout of AngelList, has launched Obol, Bitlayer, and DoubleZero using its unique karma-based rewards model. With a portfolio that already includes Solana, Flow (by Dapper Labs), and Filecoin, CoinList continues to serve as a serious contender in the space. Meanwhile, Republic, backed by Galaxy Digital, surpassed $120 million in total raises and maintains payout structures for Note holders in USDC. At the same time, Cobie’s Echo is gaining traction with its modular “Sonar” token sale framework, which allows for customizable and self-governed token launches.
In July, Kaito Capital Launchpad, founded by ex-Citadel executive Yu Hu, entered the scene with a platform built around social reputation scoring, AI-powered analytics, and a native integration with the Base chain. Its debut project, Espresso, featured controlled allocations, vesting stages, and KAITO token fee redistribution.
A New Focus on Real Contributors Instead of Just Capital
Beyond improving retail access, a new generation of token launchpads is now rewarding value-added contributors rather than simply early investors. SeedList, a Singapore-based institutional crypto crowdfunding platform, is leading this trend. Its model removes VCs from the equation entirely and redirects allocation toward strategic Key Opinion Leaders (KOLs) and community partners who help drive awareness and growth.
SeedList’s standout feature is its AI-driven merit-based allocation system. Rather than relying on staking thresholds or lottery mechanics, it evaluates real contributions including content creation, technical support, and network influence to decide who earns token access. This strategy allows SeedList to include a broader global user base, especially from underrepresented non-U.S. markets.
“We’re building on the groundwork laid by CoinList and other industry pioneers, but our model is engineered for the next generation of contributors,” said SeedList co-founder Rosa Pagani in a private investor briefing. “Instead of capital dictating access, it’s merit, engagement, and real input. We remove VCs altogether and give that allocation to KOLs and microinfluencers.”
Another differentiator is SeedList’s custody approach. Unlike platforms that rely on fiat or centralized crypto infrastructure, SeedList supports both non-fiat and non-crypto custody, making it easier to onboard contributors across legal and jurisdictional boundaries. Its partner network spans exchanges and regional influencer ecosystems, allowing access to pre-seed and seed-stage deals that are typically exclusive to funds and insiders.
Backing for SeedList comes from major names. One of its founders, Rosa Pagani, also serves as CEO of WhiteBIT Australia, the regional arm of WhiteBIT Global, Europe’s largest crypto exchange with over 8 million users and a valuation of $18 billion. Another major backer is Brijesh Patel, former partner at Pronomos Capital, a decentralized city-focused VC fund backed by Marc Andreessen (a16z), Balaji Srinivasan (Coinbase CTO), the Winklevoss twins (Gemini and Facebook), and Naval Ravikant (founder of AngelList, which also created CoinList).
Solana ecosystem developer CryptoSheldon, a SeedList co-founder and strategic advisor, commented: “In a utopian world, crypto projects will have their choice of large-scale crypto launchpads. CoinList if they are U.S.-based or want VC involvement, SeedList if they are a L1 or decentralized protocol outside the U.S. that needs to onboard 500K+ users via KOLs in order to create a global retail brand, or Kaito or Echo for something in between those two extremes.”
Where the Industry Is Headed Next
As we move into late 2025, the traditional lines between launchpads, exchanges, and VC firms are fading. New launch platforms like SeedList, Echo, Republic, CoinList, and Kaito are integrating everything from tokenomics modeling to user engagement tools and built-in liquidity access. This evolution gives crypto startups a full-stack capital formation experience from day one.
An increasing number of ecosystem builders, traditional finance professionals, and crypto-native influencers are now creating their own token launch platforms in order to challenge legacy venture capital and return more power to communities. Echo was built by renowned trader Jordan Fish (Cobie), Kaito came from former Citadel executive Yu Hu, and SeedList is the brainchild of respected Solana veteran and advisor CryptoSheldon.
Several high-profile token launches are planned for Q3 and Q4 on Bitget, CoinList, SeedList, and Kaito. These include next-gen infrastructure protocols, AI-integrated tools, and DePIN networks. With smarter allocation models, deeper liquidity, and increased emphasis on community-led growth, 2025 could be remembered as the year institutional crypto crowdfunding platforms permanently changed the way Web3 projects go to market.