Investment in blockchain and cryptocurrency projects has been thriving in the month of May, with a staggering $474 million raised collectively by 62 different projects. Leading the pack is Sophon, an entertainment-focused blockchain project that managed to secure an impressive $60 million in a node sale. Not far behind is Securitize, a startup specializing in blockchain-based digital asset securities, which raised $47 million.
The data from crypto-fundraising.info reveals that out of the 62 projects, four are part of the Bitcoin ecosystem and together they raised close to $20 million. Among them, Botanix Labs emerged as the frontrunner with $8.5 million, followed by Arch Network with $7 million, Zest with $3.5 million, and Bitsmiley with $999,600.
Moving on to the alternative blockchain ecosystems, the top five projects in terms of funding were Sophon ($60M), Securitize ($47M), Polymarket ($45M), Humanity Protocol ($30M), and Arbelos Markets ($28M). Sophon, built on the Ethereum platform, conducted a node sale by offering a limited number of ‘node licenses’ that allow participants to run nodes on the network and earn a share of Sophon’s future token emissions.
Securitize, on the other hand, raised funds from prominent investors such as Blackrock, Morgan Stanley Tactical Value, Sumitomo Mitsui Trust Bank, IDC Ventures, Ava Labs, Global Brain, and Borderless Capital. The projects that made it to the top ten but didn’t quite reach the top five include Peaq ($19.98M), Lagrange ($13.5M), Seed Labs ($12M), Lava Network ($11M), Galaxis ($10M), and Kiosk ($10M).
Some other noteworthy projects that attracted significant funding this month include Owito Finance ($8M), UXUY ($7M), Re ($7M), EYWA ($7M), Mitosis ($7M), Arch Network ($7M), Param Labs ($7M), Shogun ($6.9M), Chainml ($6.2M), Chainstack ($6M), and Starnest ($6M). Additionally, there were three Bitcoin-centric projects that raised less than $1 million: Multipool secured $650,000, Engines of Fury obtained $550,000, and Lifeform raised $450,000.
What are your thoughts on these projects that collectively raised an impressive $474.08 million in May? We would love to hear your opinions and insights in the comments section below.
