[PRESS RELEASE – Singapore, Singapore, August 1st, 2023]
Launchpad delivers 142.4% ROI YTD thanks to a carefully curated selection of AI projects
Leading IDO launchpad, Enjinstarter, announced today that its stable AI-powered Web3 projects have earned investors an average ROI of 142.4% YTD in 2023. This puts Enjinstarter firmly in the top 3 of IDO providers worldwide, according to industry-leading ranking service, CryptoRank.
Continued success in Q2 comes on the back of a successful Q1 in which Enjinstarter was ranked by TokenHunter as the top-performing IDO launchpad with an average ROI of 538.49%.
“Our number one goal is to deliver maximum value to our IDO participants. We conduct an exhaustive study of every launchpad applicant to bring our token holders a carefully curated selection of projects set to revolutionize the industry,” said Prakash Somosundram, co-founder and CEO of Enjinstarter. “At the beginning of the year, our team correctly identified the growing trend towards generative AI and was quick to adapt. Our overall success this year can be attributed to our team’s ability to find the best among a proliferation of AI-powered Web3 projects.”
2023 has been the year of AI. The continued evolution of OpenAI’s GPT algorithm has led to a proliferation of generative AI-powered apps. Of the 13 IDOs conducted by Enjinstarter so far this year, 8 leverage the power of AI:
- ChainGPT – Infrastructure enabling the future of Web3 innovation with AI
- Orbofi AI – Advanced platform for creating AI-generated content and fine-tuned AI models.
- Eldarune – AI-powered RPG with PvE and PvP modes
- Cogito Protocol – A decentralized and AI-driven tracercoin called GCOIN
- KAIF Platform – AI-powered decentralized society (DeSoc) platform.
- HyperGPT – A Web3-based AI marketplace
- DexCheck – AI-boosted analytics for crypto and NFT trading
- SophiaVerse – An advanced artificial general intelligence initiative revolutionizing the world of AI and gaming
The top performing IDO launched through Enjinstarter in 2023 is ChainGPT, with an ROI of 704% at the time of writing. SophiaVerse is a close second at 602%. Data provided by CryptoRank.
Building on the success of its IDO launchpad, Enjinstarter plans to build two additional launchpads. The first is an INO platform to connect utility-driven NFT projects with investors. The second is a platform specifically designed for Web3 climate startups to raise funds from impact investors.
Looking ahead, Enjinstarter has 5 IDO projects in the pipeline: SeaPad, Kvants AI, Boss Fighters, AITECH, and Backstage. It is also planning the release of an expansive storytelling AI NFT game based on an advanced earth concept where factions are embarking on quests and battles throughout the Enjinstarter ecosystem to gather resources and earn rewards.
To date, the company has helped launch over 80 Web3 projects and platforms since its inception in 2021.
Launched in 2021, Enjinstarter is a next-generation ecosystem and launchpad for promising Web3 gaming, entertainment and metaverse projects. They have supported 70 companies since
inception. They have a collective community of more than 200,000 across various social platforms and manage localised communities in South East Asia, India, Turkey and Spain. They have also launched dedicated market-launchers for North America and Indonesia.
Enjinstarter also has a fast growing Web3 Innovation Consulting practice that works with brands, large corporates and Web2 companies looking to develop a Web3 strategy. Clients that they have supported include Hatten Land and GCEX. Enjinstarter is also a member of the Open Metaverse Alliance.
Enjinstarter raised US$5 million in their Series A round from True Global Ventures 4 Plus, an equity venture capital firm that invests in serial tech entrepreneurs globally. The company has also received initial approval from Dubai’s Virtual Assets Regulatory Authority, indicating progress in obtaining full permission to operate within Dubai.
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