In the past 20 days of May, 62 blockchain or cryptocurrency projects have collectively raised $474 million, according to the latest data. Leading this fundraising spree, the entertainment-focused blockchain project Sophon secured $60 million in a node sale, closely followed by Securitize, which raised $47 million.

May Witnesses $474M Raised by Blockchain Startups

Since the beginning of May, blockchain and crypto startups and projects have attracted a total investment of $474.08 million. Among these, 62 projects received funding, including four Bitcoin ecosystem projects that collectively raised nearly $20 million. Botanix Labs led this group with $8.5 million, followed by Arch Network with $7 million, Zest with $3.5 million, and Bitsmiley with $999,600, as per data from crypto-fundraising.info.

In the alternative blockchain ecosystems, the top five projects were Sophon ($60M), Securitize ($47M), Polymarket ($45M), Humanity Protocol ($30M), and Arbelos Markets ($28M). Sophon, an entertainment network built on Ethereum, conducted a node sale, offering a limited number of ‘node licenses’ enabling participants to run nodes on the network and earn a share of Sophon’s future token emissions.

Securitize, a startup specializing in a blockchain platform for issuing and managing digital asset securities compliantly, raised funds from investors including Blackrock, Morgan Stanley Tactical Value, Sumitomo Mitsui Trust Bank, IDC Ventures, Ava Labs, Global Brain, and Borderless Capital. Other projects within the top ten but below the top five included Peaq ($19.98M), Lagrange ($13.5M), Seed Labs ($12M), Lava Network ($11M), Galaxis ($10M), and Kiosk ($10M).

Other notable projects in terms of funding this month included 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). In addition to Bitsmiley, three other Bitcoin-centric projects 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 the projects that raised $474.08 million in May? Share your opinions in the comments below.