BuidlPad Launch Announcement

Erick Zhang, managing partner at Nomad Capital and former Binance head of research, has launched a new initial coin offering (ICO) platform named BuidlPad.

The announcement took place during the Emergence conference organized by The Block and Foresight Ventures. Recently, Zhang noted to The Block his preparations for launching the platform, as interest in ICOs resurges. Zhang emphasized that ICOs are a "powerful" means for founders to cultivate engaged communities, where all have a stake in the project's success.

> "I've also had discussions with numerous project founders, and the consensus is clear — there is a strong demand for a new ICO platform," he stated.

Factors Driving ICO Interest

As reported by The Block, renewed interest in ICOs is due to several factors: pro-crypto U.S. President-elect Donald Trump, dissatisfaction among retail investors regarding elevated prices compared to venture capital investors, and weak user retention from token airdrop campaigns. Zhang echoed these sentiments, conveying community frustrations with inflated valuations and underperforming VC-backed tokens. He critiqued the current VC fundraising model for favoring the wealthy, asserting that ICOs permit retail investors to engage at earlier and lower valuations, circumventing inflated prices, which often resemble 20x the seed price upon listing.

Lessons from Binance Launchpad

During his time at Binance, where he led the Launchpad project, Zhang oversaw over 20 ICOs, including pivotal projects like BitTorrent, Polygon, and Axie Infinity, collectively amassing above $100 million. He stated, "I have incorporated lessons from past ICOs into the design of BuidlPad, focusing on transparency and fair distribution." BuidlPad will feature a thorough vetting process to select high-quality projects with robust business models, aimed at ensuring investor value.

Participation Requirements

Users wishing to participate in BuidlPad must complete know-your-customer (KYC) checks, and those from restricted regions, such as the U.S. and China, will be barred from participating in ICO sales.

The Competitive Landscape

The advent of BuidlPad follows the launch of Legion, a merit-based ICO platform incubated by Delphi Labs, in August. Legion completed its inaugural ICO sale for Pulse, aimed at health data collection, and is planning weekly ICO sales moving forward.

Additionally, in the current year, notable crypto trader Jordan Fish (Cobie) introduced an angel investing platform that has helped raise around $30 million so far.

While ICOs provide considerable opportunities for retail investors, the necessity of quality venture capitalists remains crucial. According to Jed Breed, founder of Breed VC and former Circle digital assets head, a blend of retail and VC investors signifies the optimal outcome.

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