Recent findings from The Tie show that In May 2026, 89 crypto companies raised a combined $3.08 billion across 93 rounds. That is about $1.22 billion more than April, even though deal count fell by sixteen. So although the AI boom is in full swing, crypto projects are still raising impressive amounts of capital. 

Interestingly, this is being driven by the recent comeback of crypto launchpads. A crypto launchpad is a platform that helps new crypto projects raise funds and distribute tokens early, while giving users access to those tokens before or around public market listing. The crypto launchpad model gained popularity in 2019, after the initial coin offering (ICO) boom faded.

Deep Dive Podcast host Rachel Wolfson spoke with Isaac Joshua, CEO of Gems Launched, about why crypto launchpads are re-emerging as a more disciplined funding channel – one focused less on hype and more on community, trust, founder credibility and measurable demand.

During the interview, Joshua explains that the market has moved away from the excesses that defined the ICO era toward a more selective model, where projects are expected to show traction before tapping retail capital.

Joshua added that Gems has helped 14 crypto projects raise $215 million over the past two and a half years, positioning the platform as a curated gateway for early-stage token fundraising rather than a volume-driven listing venue.

Joshua’s bigger point, however, was that capital formation in crypto is becoming more disciplined. For instance, he mentioned that Gems typically keeps only one or two projects live on the platform at a time, arguing that investors should be able to focus on a smaller number of vetted opportunities rather than sift through long lists of token sales. He also said the platform looks for founders who already have some initial capital, an authentic community, and visible proof of demand before they are brought to market. In Joshua’s view, those filters have become essential in a post-boom environment where credibility matters as much as narrative.

Joshua further remarked that AI-linked crypto projects and tokenized real-world assets (RWAs) are currently among the strongest categories drawing attention from both founders and investors. This reflects a broader shift in digital assets, where projects are increasingly trying to connect tokens to clearer utility, infrastructure, or tangible underlying value rather than pure speculation.

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