A major transition is underway in the world of crypto fundraising. More and more Web3 startups are walking away from the conventional venture capital playbook and turning to institutional crypto crowdfunding launchpads that are built around scale, transparency, and community activation. Among the most prominent platforms leading this shift are CoinList, Republic, Bitget LaunchX, Echo by Cobie, SeedList, and the recently launched Kaito Capital Launchpad.

These platforms are transforming how capital formation works in crypto. Beyond fundraising, they offer mechanisms to onboard thousands of users, build vibrant communities, create global awareness, and launch faster. The model is proving more aligned with today’s decentralized ethos ,  and it’s gaining traction fast.

This movement has gained steam thanks to an ongoing series of oversubscribed sales, new allocation systems that reward user contributions, and frustration with how venture capital deals tend to lock out retail backers. With over 100 token sales expected to occur in the back half of 2025, launchpads have moved from being a side option to becoming the dominant channel for Web3 projects aspiring to scale globally and rank in the CoinMarketCap top 100.

Recent Multi-Platform Launches Showcase the New Standard

The turning point for this new model arguably came with WalletConnect’s WCT token sale earlier this year. Conducted across CoinList, Bitget LaunchX, and Cobie’s Echo, it set a benchmark for multi-platform fundraising:

• Bitget LaunchX’s allocation of $4 million was completely claimed in less than two hours, after receiving $170 million in pledges from 40,000 unique users.
  
• CoinList’s portion saw over 18,000 contributors from more than 100 different countries.
  
• Echo’s $500,000 private round was filled in only 11 seconds, demonstrating the strength of automated systems and grassroots momentum.

CoinList, originally built as a spin-off from AngelList, continues to break ground with new token sales for projects such as Obol, DoubleZero, and Bitlayer. Its unique karma point system is used to evaluate and prioritize participant engagement. The platform has a legacy of success with early launches of names like Flow (by Dapper Labs), Solana, and Filecoin.

Republic, another powerhouse in the space backed by Galaxy Digital, has raised over $120 million through its token sale infrastructure. Republic is also known for distributing USDC dividends to holders of its Note token. Meanwhile, Jordan Fish (better known as Cobie) continues to innovate with Echo, which features a modular toolset called Sonar that allows for compliant, customizable, and fast token launches.

Kaito Capital Launchpad, introduced in July by a former Citadel executive, integrates AI-based analytics, Base-chain compatibility, and social reputation models into its platform. Its debut project, Espresso, implemented staged vesting, strict allocation caps, and redistributed platform earnings via the KAITO token.

Next-Generation Platforms Are Prioritizing Contributors Over Pure Capital

While the initial wave of launchpads democratized investor access, a new breed of platforms is emerging that aims to recognize real contributions from users ,  whether through development, influence, or community-building. At the forefront of this contributor-first model is SeedList.

Based in Singapore, SeedList has created a token distribution system that focuses on rewarding effort and involvement, not just money. It uses AI-powered allocation tools that evaluate technical participation, community activity, and KOL (Key Opinion Leader) impact when assigning token rights. This strategy shifts the focus away from staking and lotteries, and instead promotes active engagement ,  especially from users outside the U.S.

“We’re grateful for what CoinList, Republic, and others have built, but we believe the future of launchpads lies with meaningful participation,” said SeedList co-founder Rosa Pagani during a private investor meeting. “We don’t think access should be controlled by capital anymore. Our system favors contributors. We’ve removed VCs from the equation entirely and shifted that access to the people actually growing the network ,  KOLs and microinfluencers.”

SeedList’s approach also simplifies the regulatory burden by avoiding fiat and custodial crypto requirements. That decision makes it easier for non-U.S. participants to get involved and provides smoother access for global contributors.

The project is backed by heavy hitters. Rosa Pagani is also the CEO of WhiteBIT Australia, a division of WhiteBIT Global ,  Europe’s largest cryptocurrency exchange, which serves over 8 million users. She’s joined by Brijesh Patel, a former partner at Pronomos Capital, a venture fund focused on decentralized governance and cities. Pronomos has been supported by several high-profile tech leaders, including Marc Andreessen (a16z), Balaji Srinivasan (former CTO of Coinbase), the Winklevoss twins (founders of Gemini and early investors in Facebook), and Naval Ravikant (founder of AngelList and backer of CoinList).

CryptoSheldon, a respected builder and advisor within the Solana ecosystem, summed it up clearly: “Projects now have actual options. If they’re U.S.-based and want to work with VCs, they go with CoinList. If they’re decentralized or outside the U.S., SeedList offers access to a massive global retail base via KOLs. If they want flexibility, Kaito and Echo offer hybrid models. This is the era of choice.”

Launchpads Are Overtaking VCs as the Go-To for Web3 Funding in 2025

As the second half of the year continues, we’re watching a merging of functions across exchanges, venture capital, and token platforms. Solutions like SeedList, CoinList, Republic, Echo, and Kaito are combining fundraising, compliance, user analytics, and liquidity provisioning into unified platforms.

The new capital stack is about more than just raising money. It’s about bootstrapping user bases, incentivizing community participation, and establishing brand equity ,  all before a token even hits the market.

A growing number of experienced players are entering the space. Cobie’s Echo, Yu Hu’s Kaito, and CryptoSheldon’s SeedList each represent unique approaches to disrupting the old VC-dominated model. These founders and builders are creating infrastructures that favor transparency, fairness, and engagement.

Major token launches are already scheduled across Bitget, SeedList, CoinList, and Kaito for Q3 and Q4. Expect a wave of DePIN projects, decentralized AI startups, and new L2 infrastructure solutions. With smarter contributor recognition and frictionless onboarding, 2025 is quickly shaping up to be the year that institutional crypto crowdfunding launchpads fully replace traditional venture capital in Web3.