In early 2019, Binance, the largest cryptocurrency exchange by volume, initiated its altcoin fundraising program, Binance Launchpad, that offered new opportunities for altcoins and the platforms that they enable.
From the get-go, the program has been a success. For instance, BitTorrent, one of the first and most anticipated token sales on Binance Launchpad, raised $7.12 million in fifteen minutes, renewing the industry’s confidence in the viability of new crypto projects.
Other platforms, like Fetch.AI, also received huge fundraising numbers, bringing in $6 million in 10 seconds, a head-turning, an industry-shaping sum that brought significant enthusiasm to Binance Launchpad.
Now that we are more than six months into the project, now is the right time to check up on Binance Launchpad and some of the companies that have used this mechanism to jumpstart their initiatives.
Here is a look at three prominent platforms that participated in Binance Launchpad and their development after their sales.
The MATIC token was sold using Binance Network’s latest lottery program, and all 1.9 billion tokens sold out, bringing in $5 million to fund the company’s development. Their network uses sidechain technology to create a network with low cost, rapid block confirmations that support both payments and smart contracts.
After its token sale, the MATIC token continues to perform well, up 445% since launch.
Now, the Matic Network is partnering with Cere Network for the platform’s token pre-sale. The agreement allows Matic tokens to be used on Cere by private sale contributors. Cere, which is already back by $3.5 million in seed funding and the technical expertise of former members of Amazon, Twitch, and Bebo, is entering the CRM market, and their integration with Matic Network will make this move both more prominent and possible.
This partnership gives Matic Network participant an opportunity to purchase a piece of the company using Matic Coin, which is a major opportunity for both networks.
In total, Matic Network is delivering on its ideals, creating the technological infrastructure to enhance the decentralized experience, something that is most evident in their partnership with Cere Network.
Wink, the first blockchain-based gaming platform on Binance Launchpad, allows users to play games, connect with gamers, and to stake across multiple blockchain ecosystems. The platform is backed by the TRON Foundation, and their sale results, which were announced on July 31st revealed that 40,870 people participated in the process.
This represents a significant boost for the platform, which averages 4,000 active users each day.
Since its participation in Binance Launchpad, Wink has attained a Gaming Curacao License. The island country of Curacao is a hub for online gaming companies, and this licensure is a big step for blockchain-based gaming platforms in general.
In addition, Wink obtained the Costa Rica Patent Certificate. Their continued development signals that their maturity didn’t stop with the Binance Launchpad, but, as the name suggests, it was just getting started.
Harmony’s open infrastructure strives to provide the blockchain industry with high throughput, low latency, and low fee consensus platform that can usher in the future of decentralization. With an emphasis on scalability, Harmony is focused on the enterprise, by providing a mechanism for everything from loyalty points to real estate transactions.
During Harmony’s token launch, 1.58 billion ONE tokens were sold, and the token continues to perform well after its sale.
In addition, Harmony continues to focus on the launch of its Mainnet, and, in July, the company announced that all of their developments would be open source, bringing a new level of transparency and insight into their continued development.
With the third phase of their Mainnet still forthcoming, Harmony is well-positioned to serve as a more functional and easier-to-use blockchain for enterprise.
Binance Launchpad will continue presenting new token projects every month, giving new platforms exposure to a big audience with a significant appetite for decentralized products and services.
If the results of Matic Network, Wink, and Harmony are any indication, these future projects will be well-positioned to realize their potential has received the financial backing and broad exposure that comes with Binance Launchpad.
Although the future will always be up for grabs, the right opportunities can brighten the prospects of any projects, and that’s the ultimate conclusion from the first set of Binance Launchpad initiatives.