Google invested US$ 1.5 billion into blockchain this year

Blockchain data platform Blockdata published an analysis and came up with a list of forty top companies who invested in blockchain startups between September 2021 and June 2022.
The top investor is Google parent company Alphabet, who invested US$ 1.5 million in four funding rounds, focused on four blockchain startups including digital asset custody platform Fireblocks, Web3 gaming company Dapper Labs, Bitcoin infrastructure tool Voltage and venture capital company Digital Currency Group.
This is a big leap compared to its US$ 601.4 million funding across 17 blockchain-based companies, which included Dapper Labs again, along with Alchemy, Blockchain.com, Celo, Helium and Ripple.
Google’s investment efforts are followed by investment management advisory firm BlackRock, who invested US$ 1.2 million in three rounds across two companies, investment banking corporation Morgan Stanley, investing US$ 1.11 billion, also across two companies. Meanwhile, electronics company Samsung, with investments reaching US$ 979.2 million invested across 13 different companies with 15 use cases such as blockchain services, development platforms, NFT and social networks.
What use cases are the top corporations investing in?
The top use cases these investors are pouring their funds into include 61 blockchain/ crypto companies across 71 investment rounds.
19 of these companies offer NFT solutions and services, many of which belong to industries such as gaming, arts & entertainment, and distributed ledger technology (DLT).
12 of these companies are marketplaces, some of which facilitate NFT trading activities while 11 of the organizations offer gaming services with a notable overlap among use cases for the companies that provide NFT, marketplaces and gaming services.
‘The popularity of NFTs can be mainly seen as an opportunistic move by corporations looking to capitalize on trends to meet where their customers are transacting. The startups raising capital are enabling commerce in decentralized worlds by developing platforms where users can buy and sell NFTs, including virtual land, clothing, and other branded items,’ the report explained.
Other investments are distributed among companies that offer blockchain services, infrastructure, smart contract platforms, scaling solutions and digital asset custody platforms.