Google was the company that invested the most in blockchain technology

Blockdata claims that between September 2021 and June 2022, Alphabet invested $1.406 billion in its blockchain portfolio over the course of four investment rounds, which is several hundred million dollars more than Blackrock, its nearest rival. (About $1,231 billion)

Google became the company that invested the most in blockchain technology with a total of US $ 1,506 million. According to a Blockdata report, of the total of 40 companies surveyed, some 6 billion dollars were invested in new blockchain companies between September 2021 and June 2022.

According to Blockdata, in four investment rounds between September 2021 and June 2022, Alphabet allocated $1.506 billion to its blockchain portfolio, several hundred million dollars more than its closest investment competitor, Blackrock. (1,171 million dollars).

The top forty companies invested

Collectively, the top forty companies invested around $6 billion in blockchain during the period, with other companies such as Samsung, PayPal, and Microsoft also increasing their interest in the space.

Despite the scale of spending during the period, all of Alphabet’s investment was in just four blockchain companies, Fireblocks, Digital Currency Group, Voltage, and Dapper Labs. The Fireblocks deal alone was worth $550 million.

The limited portfolio could signal a shift in Alphabet’s interest, from broad investment in the sector to a specific focus on companies that best fit its use cases. In its analysis of the figures, Blockdata notes that «Alphabet and Blackrock are showing a completely different strategy by placing bets concentrated on a smaller set of companies.»

Supporting this interpretation of the data, Blockdata’s report from last year notes that Alphabet invested in 23 blockchain companies as of September 2021. The more focused strategy follows public indication that Alphabet, and its affiliate Google, have warmed to blockchain and Web3 in recent years.

Indeed, Google CEO Sundar Pichai spoke optimistically about blockchain in a conversation with media and investors in February. «In web3, we’re definitely looking at blockchain, and such an interesting and powerful technology with wide applications, much broader, again, than any application.»

Google Cloud confirmed

In May, Google Cloud confirmed that it was creating a dedicated Web3 team to support customers looking to deploy products around the blockchain, including cryptocurrencies and NFTs. The investment in Web3 is expected to lead to new use cases, and Google Cloud’s investment in the technology to date casts a wide net to provide as complete an experience as possible for blockchain customers.

Sundar Pichai already said in February that they are closely watching the world of Blockchain, “ an interesting and powerful technology with wide applications ”. He has since integrated Google Pay with crypto companies like Crypto.Com, to make it easier to buy crypto assets, but they are very subtle moves.

Samsung, on the other hand, created an NFT aggregation platform on its smart TVs, so people can search for NFTs for sale and buy them from the TV. Your Galaxy Fold 4, in fact, is also integrated with the NFT ecosystem. Blockchain technology is booming.

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