Google’s parent company Alphabet pumped more capital into the blockchain industry than any other public company, investing $1.5 billion between September 2021 and June 2022, a new report shows.
In an updated blog published by Blockdata on August 17, Alphabet (Google) was revealed as the investor with the deepest pockets compared to the top 40 public corporations investing in blockchain and crypto companies during this period.
The company invested $1.5 billion in the space, focusing on four blockchain companies, including digital asset custody platform Fireblocks, Web3 gaming company Dapper Labs, bitcoin infrastructure tool Voltage and venture capital firm Digital Currency Group.
This is in stark contrast to last year, where Google has diversified its much smaller $601.4 million funding efforts into 17 blockchain-based companies, which again include Dapper Labs as well as Alchemy, Blockchain.com, Celo, Helium and Ripple is included.
Google’s increased investment in the blockchain industry is consistent with other publicly traded top 40 companies, with a total investment of $6 billion during this period, compared with $1.9 billion between January 2021 and September 2021, and $506 million throughout 2020. was invested.
Other large corporate investors include asset management company BlackRock, which invested $1.17 billion, investment banking corporation Morgan Stanley with $1.11 billion, and electronics company Samsung with a total investment of $979.2 million.
Like Google, Morgan Stanley and BlackRock took a more focused approach, investing in only two to three companies during this period. However, Samsung was by far the most active investor, investing in 13 different companies.
The data also found that companies offering certain types of non-fungible token (NFT) solutions have been the most popular investments.
“Many of these pertain to industries such as gaming, arts and entertainment, and distributed ledger technology (DLT).”
The remaining investment is divided between companies that provide blockchain-as-a-service (BaaS), infrastructure, smart contract platforms, scaling solutions, and digital asset custody platforms.
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The data also found that banks have begun to increase their exposure to crypto and blockchain companies, driven by increased customer demand for crypto services. Among the banks that have found themselves on the top list of crypto investors are United Overseas Bank, Commonwealth Bank of Australia and BNY Mellon.