Venture capital investment in blockchain dips in May: OKX

• The OKX Blockdream Ventures report for May provides details on the group’s investments and insights into blockchain investment and the growth of the NFT space.

BRITISH VIRGIN ISLANDS, June 19, 2022 (GLOBE NEWSWIRE) — OKX Blockdream Ventures, an investment arm of world-leading cryptocurrency platform OKX, has published a report on its investments for the month of May and outlined a drop in venture capital funding to startups during May of 2022.

The report, titled ‘OKX Blockdream Ventures monthly report — May 2022’, shows that the investment arm funded five startups in May, including SSV Network, Ever Finance, WAX, Sweatcoin, and Alien Swap. It also relates that, globally, investment institutions have been more hesitant amid greater market fluctuations and heightened risk.

Dora Yue, Founder, OKX Blockdream Ventures, said, “The current crypto winter will not stop us from investing in innovative blockchain projects and the teams they need to continue refining and perfecting their products. We also firmly believe that companies that are both sound and innovative will survive this winter and come out the other side better than before.”

The report additionally claims that the explosion of NFTs spurred on a number of other markets including those of art, music, photography, sports, and gaming. By June 1, 2022, the total market cap for NFT marketplaces was $16.972 billion, an explosive growth of 533x compared to two years ago.

The report also shows that on-chain metrics for BTC are relatively healthy, with the number of monthly active addresses for BTC in May increasing by 3.8% compared to April.

For all the figures, market data, and insights, refer to the full report here.

For further information, please contact:
Media@okx.com

About OKX Blockdream Ventures
OKX Blockdream Ventures is the investment arm of the world-leading global cryptocurrency trading platform OKX.

We help entrepreneurs build great companies, supporting cutting-edge blockchain innovation and promoting the development of the global blockchain industry. The initial capital of OKX Blockdream Ventures is $100 million.

About OKX
OKX is a world-leading crypto trading app and Web3 ecosystem. Trusted by more than 20 million global customers in over 180 international markets, OKX is known for being the fastest and most reliable crypto trading app of choice for investors and professional traders globally.

To learn more about OKX, download our app or visit: okx.com