Google invested $1.5bn in blockchain companies in the last 10 months

Google’s parent company Alphabet poured $1,5 billion into Web3 companies, new data shows.
Google's logo on a glass building

According to Amsterdam-based market intelligence firm Blockdata report, Google’s parent company Alphabet invested about $1.5 billion between September 2021 and June 2022. The report says the parent company invested all the money into four bodies: Fireblocks, Dapper Labs, Voltage, and Digital Currency Group.

Per the report, among publicly-traded companies, Alphabet stands out as the largest blockchain investor during this time. The report also shows other giants like BlackRock, Morgan Stanley, and Samsung investing in the Web3 space. BlackRock alone poured in about $1.1 billion during the same window. Other familiar names include tech and entertainment goliaths like Tencent, Samsung, Microsoft, and many others.

Blockdata tracked 40 public companies between September 2021 and June 2022, and the Netherlands company says about $6 billion was invested into a total of 61 blockchain and crypto companies. Banks and financial organizations made up an important part of the list, alongside tech companies.

Blockdata’s official press release includes the following comment:

“Traditional corporations (Samsung, Microsoft, etc.), are already supportive of the blockchain landscape, as indicated by the funding trend over the years. Now, it is a matter of finding innovative companies and portfolios that add value to their core business growth and consolidation.”

Video games, arts, and entertainment industries received the most Web3-based investment during this period. North America has been a haven for video games-related blockchain investments during the first half of 2021.

Earlier this year, Alphabet’s CEO Sundar Pichai said the tech giant was looking for ways to integrate blockchain technology into YouTube and Google Maps.

Some tech and video game companies are still skeptical about the whole Web3 market and how useful blockchain-based solutions will improve their products. According to a recent study, nearly 50% of video game developers surveyed believe NFTs will have minimal to no impact on games.

Mobile gaming giant Supercell’s CEO Ilkka Paananen said “the company hasn’t seen an opportunity for NFTs to truly, truly make the experience better and hence they’re staying out of the game for the time being.

NEXT: Playstudios to venture into Web3 with blockchain division

Playstudios logo with one of their games in the background

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