Web3 launchpads, initially designed to connect promising projects with early investors, are increasingly under scrutiny for prioritizing fundraising over the long-term viability and technical soundness of the ventures they support. These platforms were intended to bridge the gap between builders and believers, providing new projects with access to capital and increased brand awareness, while simultaneously allowing investors to get in on the ground floor of potentially revolutionary technologies. However, the current landscape reveals a concerning trend: launchpads often function as mere "cash grabs," facilitating the launch of half-baked products without ensuring adequate support for the developers behind them.
The core issue lies in the incentive structure. Many launchpads are primarily focused on raising funds, sometimes at the expense of fostering genuine innovation and sustainable growth. This short-sighted approach can transform them into decentralized versions of "Shark Tank," where the emphasis is on securing investment rather than nurturing technical advancement. The result is a market flooded with under-developed or even unsustainable projects that lack a solid technical foundation.
One of the reasons for this phenomenon is the chain-agnostic nature of many launchpads. While neutrality might seem beneficial, it often leads to a lack of focus and quality control. By positioning themselves as open arenas for any protocol to raise funds, these platforms risk becoming free-for-alls, where truly promising projects struggle to stand out amidst a sea of mediocrity. While some argue that innovation should not be policed and that anyone should have the opportunity to fundraise, this lack of discernment can ultimately harm the Web3 ecosystem.
However, launchpads offer numerous benefits, including connecting startups with investors and strategic partners. Crypto startups can access a network of investors eager to fund new projects. Launchpads also help establish relationships with key industry players, such as exchanges, influencers, and media outlets, boosting a project's visibility and credibility. They provide resources, capital, and community support that new projects need to thrive in a competitive market. They also offer marketing support, handling announcements, promotions, and outreach to give projects instant exposure to a large audience. Strategic support, such as tokenomics design and advisory services, is another key benefit.
Several launchpads are emerging as leaders in the Web3 space. Seedify, for example, specializes in supporting Web3 projects, particularly in blockchain gaming and the metaverse, by providing funding, community building, and marketing resources. Red Kite is known for its focus on security, transparency, and high-quality opportunities, offering multi-chain support and a thorough vetting process. DAO Maker stands out for its fairness, transparency, and innovative features, prioritizing investor protection and comprehensive project support.
To address the current shortcomings, launchpads need to evolve beyond simply being fundraising platforms. They should act as incubators, offering comprehensive support to projects from their inception to their full-scale launch. This includes technical guidance, mentorship, and assistance with tokenomics, compliance, and community building. Launchpads should also implement stricter vetting processes to ensure that only projects with genuine potential and a solid technical foundation are given a platform. Furthermore, launchpads can leverage AI to analyze projects for credibility and market potential before listing them. AI can also power investor profiling to match projects with ideal backers based on investment history, risk appetite, and interest areas.
The future of Web3 launchpads hinges on their ability to prioritize quality over quantity. By focusing on nurturing innovation, providing comprehensive support, and ensuring accountability, launchpads can become true engines of growth for the decentralized web. Otherwise, they risk becoming hollow funnels that perpetuate a cycle of unsustainable projects and disillusioned investors.
