Decentralized finance projects received significantly less funds from venture investors in May. Investments amounted to $176.3 million, which is the lowest figure since September 2021.
How informs According to The Block Research analyst John Dantoni, for the first time since July 2020, investments in DeFi projects have left the most popular areas for investment. If during 2021 DeFi projects often received the largest amount of funds, by the end of 2021 NFT and GameFi projects took the lead. In May, DeFi projects took the fifth place in terms of funding, losing not only to NFT and GameFi, but also to cryptocurrency financial services, infrastructure projects and Web3.
However, despite the decline in interest, DeFi projects are still attracting the attention of large venture capital investors. For example, Centora received $36 million in a Series B funding round, bringing the total amount of funds invested in the cryptocurrency industry in May to about $1.85 billion.
Binance, the largest cryptocurrency exchange, recently launched a new half-billion dollar fund focused on Web3 and DeFi projects.
Source: Bits
I’m James Harper, a highly experienced and accomplished news writer for World Stock Market. I have been writing in the Politics section of the website for over five years, providing readers with up-to-date and insightful information about current events in politics. My work is widely read and respected by many industry professionals as well as laymen.
