The Bitget exchange, a leading spot trading platform, has announced a restart of its Launchpad platform, mothballed in June of 2022. The platform has gone live with the launch of the Panda Farm decentralized GameFi project token sale on February 16, giving users the opportunity to get their shares of the 1,000,000 BBO utility tokens.
The purpose of the Bitget Launchpad is stated as giving promising early-stage projects the chance to present their product offerings before the exchange’s growing community. Initial results during Launchpad’s release in February of 2022 were impressive, resulting in a 3000% ATH over the course of the first week. The repeat launch of the project is part of the Bitget exchange’s new Go Beyond Derivatives strategy, which is meant to give users of the platform access to an extended range of services.
The release of the Panda Farm on-chain metaverse on Launchpad marks an important landmark for the project, which seeks to attract new users to its competition-based prize pool sharing game mechanics. The Foodies Competition will be the first in a long lineup of exciting games on offer to Panda Farm users, with more set to be released in the coming months after the successful completion of the token sale. Users of Bitget will have to hold a minimum of 100 native BGB tokens to be eligible for participation in the token sale, with trading of the BBO token slated for February 20.
The spot trading market, the main arena of operations for Bitget, is still in focus for the exchange, but as Gracy Chen, Managing Director of Bitget says, “we are heavily building up our spot market this year, in terms of the variety of coins, activities, and overall liquidity. We are happy to support more early-stage blockchain-based projects that can make a real impact in the crypto space, and we are excited to partner with Panda Farm to bring a more innovative Web 3 experience.”
Representatives of the Panda Farm project have reiterated their commitment to the partnership with Bitget and underscored the importance of accessing new user and investor audiences. The listing on Launchpad and later on Bitget are both important developments for the metaverse project, which has high ambitions for scaling and community buildup.