The crypto fundraising landscape is undergoing a major evolution, as Web3 startups are increasingly opting for institutional-grade crowdfunding platforms instead of relying on traditional venture capital. Platforms such as CoinList, Republic, Bitget LaunchX, Echo by Cobie, Kaito Capital Launchpad, and SeedList are taking the lead, helping projects not just raise funds, but also gain traction through community-driven participation, brand development, and accelerated go-to-market timelines.
Rather than seeking passive VC capital, many founders now favor these platforms for their ability to engage real users and contributors. This shift has been driven by a string of successful token sales, enhanced participation models, and a growing distaste for behind-the-scenes VC deals that often exclude everyday crypto users. With more than 100 public token offerings projected in the latter half of 2025, these institutional launchpads are quickly becoming the default method for raising capital and building a loyal user base among projects striving to reach the top 100 on CoinMarketCap.
Massive Multi-Platform Launches Are Setting New Industry Standards
One of the biggest fundraising successes this year was WalletConnect’s WCT token launch, which was distributed across three separate platforms , CoinList, Bitget LaunchX, and Echo , showcasing the effectiveness of diversified distribution strategies.
- Bitget LaunchX filled its $4 million round in under two hours, with 40,000 users pledging over $170 million in total.
- CoinList saw participation from more than 18,000 global contributors spanning over 100 nations.
- Echo reached its $500,000 private sale cap in an astonishing 11 seconds, leveraging automation and strong community momentum.
CoinList, which originated as a spin-off from AngelList, continues to launch popular projects like Obol, Bitlayer, and DoubleZero using its engagement-based karma system. Notably, CoinList was also responsible for introducing early-stage investors to major success stories such as Flow (by Dapper Labs), Solana, and Filecoin.
On the other hand, Republic , backed by Galaxy Digital , has surpassed $120 million in funds raised through its token launch platform. Republic is also known for paying out dividends in USDC to holders of its Note token. Cobie (Jordan Fish), a respected trader, has also made waves with his Echo platform, featuring a modular and compliance-focused token sale toolset called “Sonar,” allowing early-stage projects to launch independently.
Kaito Capital Launchpad, which made its debut in July, was founded by a former Citadel executive and brought new features into the mix, such as social-reputation scoring, Base-native token offerings, and analytics powered by artificial intelligence. Its initial project, Espresso, was designed with staged vesting schedules, allocation caps, and a system that redistributes fees through the KAITO token.
Rewarding Contributors, Not Just Capital Providers
While the first wave of launchpads democratized access to token sales, a new breed of platforms is emerging with an emphasis on rewarding genuine contributions , from developers and influencers to community members. Leading this new direction is SeedList, a next-gen launch platform based in Singapore.
What makes SeedList stand out is its use of AI-powered allocation that favors merit over money. The platform assesses users based on their value-add: technical involvement, thought leadership, KOL impact, and overall engagement. Instead of lotteries or staking mechanisms, SeedList selects contributors who actively support the ecosystem, especially those outside traditional VC hubs like the U.S.
“We see SeedList as the logical next step beyond what CoinList started,” said co-founder Rosa Pagani during a closed-door investor session. “We’re creating an allocation system that favors action and engagement over capital. We eliminate the middlemen , no VCs , and give allocation directly to the influencers, community members, and builders who are actively helping the project succeed.”
Another important distinction is that SeedList operates without requiring fiat or custodial wallets, removing the friction that has long plagued legacy platforms. This structure also avoids regulatory bottlenecks, allowing users from emerging markets and non-U.S. jurisdictions to participate freely.
SeedList’s credibility is further enhanced by its leadership and backers. Rosa Pagani also leads WhiteBIT Australia, the regional arm of Europe’s largest exchange, WhiteBIT Global, which serves 8 million users. She is joined by Brijesh Patel, who was previously a partner at Pronomos Capital , a VC fund focused on decentralized city projects and backed by some of the most notable figures in tech and crypto: Marc Andreessen (a16z), Balaji Srinivasan (ex-Coinbase CTO), the Winklevoss twins (founders of Gemini and early Facebook investors), and Naval Ravikant (founder of AngelList and the parent platform of CoinList).
CryptoSheldon, a seasoned project advisor in the Solana ecosystem, explained: “If you’re a U.S.-based startup, CoinList is a great option. If you’re a decentralized network outside the U.S. and want to onboard hundreds of thousands of users via KOLs, SeedList is the obvious choice. For projects that fall in between, Echo and Kaito offer excellent hybrid models.”
2025 Is Becoming the Year That Crowdfunding Launchpads Replace Venture Capital
As the year unfolds, the lines separating venture funding, centralized exchanges, and launch platforms are fading. Platforms like CoinList, Republic, Echo, Kaito, and SeedList are building more than just capital-raising tools , they’re integrating compliance, analytics, liquidity access, and influencer networks into all stages of a token’s lifecycle.
What’s more, high-profile players in finance and crypto are launching their own launchpads to take advantage of this trend. Cobie launched Echo. Yu Hu, formerly of Citadel, is the founder of Kaito. And CryptoSheldon, long respected within Solana and Web3 circles, co-founded SeedList to challenge the VC status quo and make capital formation genuinely community-driven.
Several anticipated launches are slated for Q3 and Q4 of 2025 across Bitget LaunchX, CoinList, Kaito, and SeedList. These include DePIN infrastructure networks, AI-integrated blockchains, and L2 scaling projects. With smarter allocation systems, less legal friction, and broader participation from real contributors, 2025 is shaping up to be the year that institutional crowdfunding becomes the go-to fundraising solution , finally putting traditional crypto VCs on notice.
