Kaito unveils its Capital Launchpad, a web3 crowdfunding platform to launch later this week

Kaito, the AI-powered web3 data provider, plans to release a new capital allocation platform called Capital Launchpad this week, according to an announcement on Monday.

Kaito's platform will enable users to invest in private token sales and new projects, similar to Echo, the angel investing platform founded by popular crypto trader Jordan Fish, better known as Cobie.

"Later this week - the platform will go live, building a new way for projects to raise and embed communities through capital alignment - in a way that's open, meritocratic and relevance-based - as an alternative to the FCFS model," Kaito said in an X post.

According to the announcement, projects will be able to set the terms of their fundraising, including investment amounts, valuations, and vesting terms. Teams will also be able to review potential pledges and assign investors to specific "phases."

"Allocations will be determined by projects, based on factors such as social reputation, onchain holdings (not only Kaito holdings), historical alignment/relevance to the project and its relevant sectors, region, conviction, and more," Kaito said.

The Block reached out to Kaito for comment.

Kaito, founded in 2022 by former Citadel hedge fund manager Yu Hu, is an AI-powered data platform that aggregates information from sources including social media, governance forums, research papers, podcasts, and conference transcripts. The platform rewards so-called “yappers” — i.e., crypto influencers — with KAITO tokens.

Kaito noted its upcoming launchpad is a "natural progression of our mission to be the distribution powerhouse of crypto."

The KAITO token is trading at $1.73, up about 2.2% on the day, according to The Block's price page.