BlastUP, a new launchpad platform on the Blast blockchain, raised over $8 million in its recently concluded BLP token presale.

“It has been an incredible journey for us! The amount we raised is extraordinary for the Blast L2 Ecosystem. Thank you for your unwavering dedication, encouragement, and belief in our vision. We couldn’t have done it without you,” the BlastUP team said, acknowledging the community’s support.

BlastUP token launch soon

BlastUP has gained a lot of attention within the Blast ecosystem, because it offers a novel mechanism for startups to secure early-stage investments, while enabling BLP holders to invest in these startups.

BLP is BlastUP’s native utility token, which holders can use to invest in new startups via tiered IDO launches. BlastUP token holders can also earn up to 12% APR in staking rewards, and tap into other incentive programs and loyalty rewards.

Proving the success of this model, BlastUP has also seen three successful IDOs launch on the platform:

• CYBRO, an AI-powered yield aggregator on Blast, managed an impressive $150,000 in less than a week
• GameFi platform Petobots raced to a $75,000 raise in four days
• JuicyBet, a Web3 multi-chain platform for GambleFi, netted $50,000 in just two days.

As the Blast ecosystem looks forward to the Token Generation Event (TGE), there’s growing excitement around what’s next for BLP.

An upbeat Blast ecosystem community may also view this as a golden opportunity for those likely to have missed the BLP presale.

Growth across crypto

BlastUP’s impressive presale raise comes amid a fresh buzz around crypto as Bitcoin jumped to above $71k again. Memecoins have also been on a tear, while the biggest gainer among the top altcoins today was BNB.

Elsewhere, the AI space continues to attract attention amid major developments from tech giants Google, Microsoft and chipmaker Nvidia.