Smart money represents VC and other investors. Previously, names like Zhu Su and SBF came to mind. Later, it turned out they were gambling addicts, not smart, costing the entire crypto ecosystem hundreds of billions of dollars. So, which projects did smart money invest in for crypto investors in May?
May Crypto Investment Report
According to data compiled by WuBlockchain, investments in May were 8.9% less than in April. The total number of crypto ventures that received investment in May was 153, a 43% increase compared to 107 projects in the same period last year. The areas that attracted the most investment in crypto were:
- DeFi: 23.5%
- NFT/GameFi: 17.6%
- L1/L2: 11.8%
- RWA/DePIN: 11.1%
- Tool/Wallet: 5.9%
- AI: 3.3%
DeFi and NFT/GameFi were clearly in the lead. While a total of $990 million was invested, the $1 billion threshold passed in April was not reached again. In May 2023, this figure was $780 million.
Projects Receiving Investment
Farcaster was the project that received the most investment. In May, the SocialFi platform received investments from a16z, Haun, USV, Variant, Standard Crypto, and many others. The total investment was $150 million, bringing the project’s valuation close to $1 billion. The ratio was really satisfying.
Bitdeer signed a subscription agreement with Tether, gaining access to $150 million in cash. While $100 million came in through stock issuance, another $50 million will be earned if all conditions are met.
We recently mentioned Babylon. They raised $70 million in the last round. The Bitcoin-focused staking platform has significant potential.
The most notable in May was the RWA company Securitize. It received a $47 million investment led by BlackRock. This round made a splash with the support of Hamilton Lane, ParaFi Capital, Tradeweb Markets, and others.
Additionally, Polymarket, Humanity Protocol, Arbelos, DePIN, Lagrange, and Chainge Finance also raised amounts between $13 million and $45 million.
