Binance Launchpad Opens Sale of Fetch.AI (FET) Tokens
The support of Binance’s token sale platform aims to accelerate small sessions for up-and-coming digital assets.
Binance, which offers token sales for selected assets through its Binance Launchpad platform, will open a session for Fetch.AI (FET) in an attempt to boost the up-and-coming project. At 14:00 UTC on Monday, there will be one single session for FET, which is being sold to owners of Binance Coin (BNB).
The minimum contribution would be the equivalent of $20, and investments would be capped at $3,000. The price of FET is set at $0.0867. The token sale is off-limits for the residents of some countries, including the US, and requires a completed know-your-customer (KYC) procedure for potential investors.
BNB gains additional use cases and appreciation through becoming the go-to asset for token sales. Compared to large-scale initial coin offerings (ICOs), the sessions on Binance are relatively small.
The Fetch.AI project aims to build a virtual world of transacting agents, using the FET token to reflect the economic activity. Some of the transactions are intended for conduction by autonomous AI-based agents. One of the use cases for the Fetch.AI ecosystem would be allowing AI-powered deals where smart devices could offer data for sale through an autonomous process. This economic system of information trades would be tokenized through FET, an Ethereum-based digital asset with a total supply of 1.15 billion units.
Binance Launchpad gained popularity after its extremely successful token sale event for BitTorrent Token (BTT). BTT also had the benefit of being listed on Binance, climbing within a few days from $0.0000007 to as high as $0.0012. Since then, BTT has retreated a little to $0.00087.
The pick-up in activity on Binance also boosted the price of BNB, which rallied to above $11 in the most recent price spike. On Monday, the asset slipped again to $9.86, following the crash of Bitcoin (BTC) in the past day. BNB remains one of the top performers in the past month, preserving its price position based on trading activity.