Part 1 of this series was posted last week, and we recommend you take a look. We discussed the crypto events of the BitTorrent Token (BTT) sale that TRON hosted on the Binance Launchpad in late January: what happened, why the public was upset, and how the prices of TRX, BNB and BTT were affected. The last Binance Launchpad sale was a quite controversial one, serving as a catalyst for discussion in the world of crypto. Nonetheless, the BTT gained over 600% since its ICO. In the present second installment of this series, we discuss how you can participate in Launchpad sales as a backer and how you can crowdsource your own company’s token on the Launchpad. We also examine the company and product behind the Launchpad’s next hugely hyped sale: Fetch.AI.
The Binance Launchpad is open only to ID verified Binance users that are not under the jurisdictions of Afghanistan, Albania, Belarus, Bosnia & Herzegovina, Burundi, Central African Republic, China, Cote d’Ivoire, Cuba, Democratic Republic of the Congo, Ethiopia, Guinea, Guinea-Bissau, Iran, Iraq, Lebanon, Liberia, Libya, Myanmar, North Korea, Republic of Macedonia, Serbia, Somalia, South Sudan, Sri Lanka, Sudan, Syria, Thailand, Trinidad & Tobago, Tunisia, Uganda, Ukraine, United States, Venezuela, Yemen, or Zimbabwe.
If you are among the eligible to participate and wish to purchase tokens from the Launchpad, simply:
A pop-up window will request that you enter the amount you want to purchase and to
confirm a QR code.
The Fetch.AI (FET) token sale begins on 02/25/2019, 2:00 PM (UTC). The token sale will accept BNB and have one session only.
Fetch.AI is a Cambridge-based startup founded by former members of DeepMind (part of Alphabet group) Humayan Sheikh and Toby Simpson, in 2017. The crypto project seeks to implement a decentralized artificial intelligence platform to optimize our real-world economy. The problem identified by the team in their whitepaper’s overview is that our centralized digital world is sub-optimal, leading to lost information and under-utilized assets (they offer as examples empty hotel rooms, eternally parked cars, and overcrowded transport). To fix this, Fetch.AI claims it will implement a decentralized digital representation of our economy’s moving parts (data, hardware, services, people, infrastructure), where autonomous software agents will handle a complex stream of information and tiny transactions, solving novel problems bottom-up with no supervision.
Fetch.AI is just at the initial phase of its roadmap, which you can read here. The plan for Q1 2019 consists of granting access to the test network by invite, and launching beta applications for network participation and crypto wallets. Mainnet launched is envisioned for Q4 2019.
What is Fetch.AI (FET) for?
You can read the Fetch.AI token overview here.
FET token will be used to reward the platform's autonomous software agents for their completed tasks. The agents work on behalf of their stakeholders, which are expected to be individuals, private enterprises and governments, among others. They connect to Fetch's digital economy through its Open Economic Framework (OEF), which is underpinned by blockchain technology. In theory, Fetch will interface to existing systems, feeding from currently available data to repeatedly connected different permutations of buyers and sellers, thus growing new crypto markets.
Details of the Fetch.AI Launchpad token sale
The Fetch.AI bluepaper originally stated the private and public sale would have a hardcap—maximum amount of raise—of $30 million. However, details for the launch have not yet been finalized.
If you are the CEO of a company looking to launch a cryptocurrency token on the Binance Launchpad, the first thing you’ll need to do is fill out this form.
The form also links to a collection of tips for coin listing on Binance, updated on January 29, 2019 by Changpeng Zhao; it is available here. Among other actions, incorporating BNB into your ecosystem, having raised BNB during your fundraising phase, and having been a promoter/supporter of Binance in your community, are listed as things that “will help”; while actions like “spreading FUD or negative comments about Binance (…) will quickly get you blacklisted”. If your crypto project passes Binance’s initial review, you will receive an email from email@example.com, signed with a PGP signature – if the signature is different from the one shown in CZ’s post, immediately suspect a scammer.
They say there is no such thing as bad publicity, and if we go by crypto market trends, it seems Binance may have proven this old adage right. What happened with the BTT Launchpad sale (read the first part of this article) brought major attention to the platform, and ended up boosting Binance's BNB token. The real test, however, will come in a few days, when the FET token launches on February 25. Will the effect of Binance's controversial BTT sale be visible on Fetch.AI?
As always, thank you for reading.
The Coin360 Editorial Team