Institutional Crypto Crowdfunding Platforms Are Replacing VCs as the New Standard for Web3 Fundraising

A powerful shift is reshaping the way crypto projects raise capital. Instead of pursuing traditional venture capital, a growing number of Web3 startups are turning to institutional crypto crowdfunding platforms that prioritize global user access and community engagement. From CoinList and Republic to Bitget LaunchX, Echo by Cobie, SeedList, and the recently launched Kaito Capital Launchpad, these platforms are setting the stage for large-scale token distribution. They provide far more than capital, they help projects build global recognition, activate user bases, and move to market quickly.

This transition is gaining momentum through a wave of oversubscribed public sales, stronger contributor frameworks, and rising dissatisfaction with private VC deals that often exclude retail participants. With over 100 token launches expected in the second half of 2025, it’s clear that institutional crypto crowdfunding is no longer niche, it’s becoming the preferred route for Web3 projects targeting the CoinMarketCap top 100.

Token Sales Get Supercharged Through Multi-Platform Strategies

A defining example of this new trend came from WalletConnect’s WCT token raise earlier this year. The launch raised $10 million across CoinList, Bitget LaunchX, and Echo, showcasing the power of cross-platform momentum.

• Bitget LaunchX sold out its $4 million allocation in less than two hours, drawing over $170 million in pledges from 40,000 contributors

• CoinList attracted more than 18,000 participants across 100+ countries

• Echo’s private round of $500,000 was filled in just 11 seconds, highlighting the strength of community-first infrastructure

CoinList, a spinoff of AngelList, has continued expanding its lineup with launches such as Obol, Bitlayer, and DoubleZero, all based on its karma-based allocation system. Previous launches include Solana, Filecoin, and Flow by Dapper Labs.

Republic, backed by Galaxy Digital, has surpassed $120 million in token sale volume. The platform also rewards NOTE token holders with USDC dividends. At the same time, Echo launched its modular Sonar framework, allowing compliant, self-managed token sales for early-stage crypto teams.

In July, Kaito Capital Launchpad, founded by a former Citadel executive, entered the scene with a novel approach. It features AI-driven analytics, Base-chain-native design, and social reputation-based token allocation. Its first offering, Espresso, introduced capped allocations, multi-stage vesting, and redistribution of platform fees through the KAITO token.

Contributor-Based Allocation Models Are Gaining Ground

While many platforms focus on increasing access to early-stage deals, some are going even further by shifting allocation away from capital and toward real value contributors. A standout in this space is SeedList, a Singapore-based institutional crypto launchpad built to eliminate VC favoritism and redirect access to KOLs and ecosystem builders.

SeedList uses a merit-based allocation system powered by AI. It evaluates factors like community engagement, technical work, and influencer impact, rewarding meaningful participation rather than staking or lottery mechanics. The platform gives special attention to contributors in underrepresented non-U.S. regions that typically miss out on top-tier early access.

Co-founder Rosa Pagani explained the vision in a private briefing:

“CoinList helped break open early-stage access, but we’ve redesigned the model for the next generation. It’s no longer about who brings the most capital. It’s about who contributes the most value. We removed VCs from the equation and allocated those spots to KOLs and microinfluencers.”

Unlike CoinList and Republic, SeedList operates with a non-custodial structure, avoiding fiat or crypto custody and reducing legal hurdles. This makes participation easier for users in emerging markets and removes compliance complexity from the onboarding process.

Backing for SeedList comes from major names. Rosa Pagani, also serving as CEO of WhiteBIT Australia, a division of the $18 billion WhiteBIT Global, Europe’s largest crypto exchange with over 8 million users, brings direct exchange leadership to the platform. SeedList is also supported by Brijesh Patel, former partner at Pronomos Capital, a decentralized city VC backed by some of the most influential names in tech and crypto, including Marc Andreessen (a16z), Balaji Srinivasan (former Coinbase CTO), the Winklevoss Twins (Gemini & Facebook), and Naval Ravikant (founder of AngelList, parent of CoinList).

Choosing the Right Platform in a Fragmented Ecosystem

CryptoSheldon, a longtime contributor to the Solana ecosystem, believes we’re entering a more flexible era for token launches:

“Founders now have real options. CoinList is ideal for U.S.-based projects looking for VC participation. SeedList is designed for L1s and decentralized protocols outside the U.S. aiming to activate hundreds of thousands of users through KOLs. Echo and Kaito offer something in between.”

This evolution gives crypto teams the ability to select a model that best fits their goals, rather than being forced into legacy VC pipelines that may no longer align with their values.

The Future of Token Fundraising Is Already Here

As of mid-2025, the lines between launchpads, exchanges, and VCs are fading fast. Platforms like SeedList, Kaito, CoinList, Republic, and Echo are integrating data analytics, compliance tools, and liquidity features into the fundraising process itself. This allows projects to reach the market with stronger communities, better price discovery, and active ecosystems from day one.

A packed launch calendar is already in motion for Q3 and Q4 across SeedList, CoinList, Bitget, and Kaito. These upcoming sales will include DePIN projects, AI-first protocols, and L2 scaling platforms, many of which are expected to generate significant attention.

The broader movement also includes a growing group of high-profile builders and influencers stepping into the launchpad space. Trader Jordan Fish (Cobie) launched Echo, ex-Citadel exec Yu Hu created Kaito, and Solana developer and advisor CryptoSheldon built SeedList. These platforms represent a deliberate challenge to the VC status quo, with a shared goal of shifting power back to contributors and communities.

If 2024 was the year of experimentation, 2025 is shaping up to be the year crypto launchpads take over.