What is Launchpad's purpose in NFT space?
There are several fundraising methods in the crypto world that are usually organized through launchpad platforms. Launchpad hosts offerings, usually blockchain-based projects, on its platform and makes them available for people around the world. Basically, it works like a crowdfunding platform but is dedicated to the crypto space. Moreover, there’s now essentially a launchpad for every blockchain.
With that in mind, there are certain differences in the way Launchpad operates, according to fundraising methods and hosted projects. In this article, we will focus only on NFT Launchpad platforms and the main differences that distinguish them from marketplaces.
Table of contents:
NFT Launchpads development
Differences between Launchpad and Marketplace
Some NFT Launchpads overview
Starly.io
Binance Launchpad
Closing thoughts
NFT Launchpads development
As its name indicates, NFT launchpads feature NFT offerings that involve minting, launching, and marketing NFT projects. At the core of these launchpads stands the same idea to provide projects with the opportunity to raise funds while giving access to early-stage token sales for early investors. The only singularity is that these launchpads are dedicated to the NFT.
With the NFT Launchpads development, such platforms facilitate access to potentially promising early-stage investment opportunities. At the same time, these platforms support the creators to mint and sell NFTs within a specialized portfolio. For instance, there are niche launchpads for artists, musicians, content creators, influencers, as well as IGO launchpads hosting blockchain gaming projects.
Besides, the fundraising objective, the creators also benefit from other advantages such as early community building, audience, royalties, and depending on the launchpad, the lowest transaction fees on their NFT trades, and immediate liquidity for minted NFTs. In return, the collectors and investors are getting exclusive access to early-stage sales before they go public.
Differences between Launchpad and Marketplace
You may ask yourself if both launchpad and marketplace bring together several buyers and sellers, then what is the difference? Well, there is nothing tricky here, any launchpad ecosystem allows you to participate in upcoming sales where the real potential of the project isn’t revealed yet. Early joiners of successful projects always benefit the most. However, there is no guarantee that the project will give a profitable return, so they also carry significant financial risk.
In addition, further services are provided on the launchpad.
Staking. Typically, investing through launchpads requires participants to lock the platform’s native token for a certain period of time. Thus, holding a certain amount of tokens according to Tier allocations allows them to participate in sales happening on the launchpad. By staking their tokens the participant can earn staking rewards too.
NFT Swaps. Some launchpads enable users to deposit their NFTs and obtain token derivatives which they then can exchange.
Cross-chaining. A cross-chain NFT Launchpad platform allows users to move their NFTs across different blockchains, avoiding high fees.
Some NFT Launchpads overview
Without dwelling exclusively on shared launchpads, let’s consider two contrasting examples: a pioneer and the major player of the industry.
Starly.io
Starly.io is a brand new launchpad created on Flow blockchain. It creates a space for artists and collectors to build economies around gamified NFT collectible cards. What makes it special is that Starly offers NFTs in sealed packs with three different rarity classes. Thus, each collection comes in a set of cards — common, rare, and legendary.
Founded by an experienced team that formerly raised social networks F3 with over 30 million users and Ask.fm with over 150 million users, Starly has already established partnerships with major entertainment, sport & fashion agencies in Europe, North America, and Asia.
Most recently, Starly has introduced the $STARLY token, platform utility token, and a medium of exchange for the Starly ecosystem. By staking the $STARLY token users could benefit from the reward tiers depending on the amount of the staked $STARLY tokens. There are three stacking tiers - Silver, Gold, and Platinum memberships. Each of them gives its members a setlist of benefits. The launch date of the $STARLY token will be announced soon.
Starly has a solid roadmap and has already successfully completed several NFT collection drops. For further information, better visit their website.
Binance NFT
No surprise, Binance NFT is a Binance-owned launchpad platform. Besides running the world's leading cryptocurrency exchange, Binance covers an entire ecosystem.
You can participate in IGOs on Binance NFT to get exclusive in-game assets from an array of gaming projects or seek mystery boxes from a scope of NFT collections. Investors need to hold a certain amount of BNB, a platform's native token, in their Binance Wallet to be eligible to participate.
Binance offers a comprehensive range of services and provides complete assistance and guidance to newly listed projects, helping them grow within the Binance ecosystem. Binance has built comprehensive tools and guides that you will easily find on their website.
Closing thoughts
Launchpad acts as a catalyst for NFT projects, supporting creators to mint and market their NFTs while providing collectors with early-stage investment opportunities.