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Google has invested $1.5 billion in blockchain ventures since September

Google has invested $1.5 billion in blockchain ventures since September

Google’s parent company, Alphabet, invested the most capital in the blockchain industry of any other public company, investing $1.5 billion between September 2021 and June 2022, according to a new report.

In an update Blog published by Blockdata on August 17, Alphabet (Google) was revealed as the investor with the deepest pockets compared to the top 40 public companies investing in blockchain and crypto companies during the period.

The company has invested $1.5 billion in the space, focusing on four blockchain companies, including digital asset custody platform Fireblocks, Web3 gaming company Dapper Labs, tech tool Bitcoin Voltage infrastructure and venture capital firm Digital Currency Group.

This is in stark contrast to last year, where Google diversified its much smaller $601.4 million fundraising effort into 17 blockchain-based companies, which again included Dapper Labs, as well as Alchemy, Blockchain.com, Celo, Helium and Ripple.

Google’s increase in investment in the blockchain industry is consistent with the other top 40 publicly traded companies, with $6 billion in total invested during this period, up from $1.9 billion between January 2021 and September 2021 and $506 million in 2020.

Source: Blockdata

Other big corporate investors include BlackRock asset management companywhich invested $1.17 billion, investment bank Morgan Stanley, which invested $1.11 billion, and electronics company Samsung, with investments totaling $979.2 million.

Like Google, Morgan Stanley and BlackRock took a more focused approach, investing in just two to three companies over the period. However, Samsung was by far the most active investor having invested in 13 different companies.

The data also revealed that companies offering some form of non-fungible token (NFT) solutions were the most popular investment.

“Many of them belong to industries such as games, arts and entertainment and distributed ledger technology (DLT).”

The remaining investments were split between companies that provide Blockchain-as-a-Service (BaaS), infrastructure, smart contract platforms, scaling solutions, and custody platforms. digital assets.

Related: Beyond the hype: NFTs can pave the way for transforming commerce experiences

The data also revealed that banks have started increasing their exposure to crypto and blockchain companies, due to an increase in customer demand for crypto services. Some of the banks that end up on the list of top crypto investors include United Overseas Bank, Commonwealth Bank of Australia, and BNY Mellon.