Google Invests 1.5 Billion in Blockchain Companies, New Data Suggests

Google Invests 1.5 Billion in Blockchain Companies, New Data Suggests

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As crypto acceptance is on the rise among young people worldwide, companies, especially tech giants are in the race to integrate crypto-related services into their product offerings to have wide client coverage.

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Google, Other Tech Giants Invest Largely in the Crypto Industry

According to data revealed by the research firm Blockdata, Google’s parent company Alphabet has been actively investing in crypto companies between September 2021 to June 2022.

In total, public companies have invested more than $6 billion in blockchain startups since September 2021, Google, however, led the race by investing $1.5 billion out of the $6 billion.

Other companies include BlackRock with a total investment of $1.17 billion, Wall Street giants Morgan Stanley and Goldman Sachs invested $1.1 billion and $698 million, respectively.

Samsung, DapperLabs among other tech giants are among the tech companies. Samsung has participated in 13 investment rounds since September last year, making it the most active investor during the period.

NFT Solutions Getting Attention

Recent data suggested that 61 blockchain startups were considered for investment by investors, 19 among them were focused on building NFT solutions. About 63% of the solutions were marketplaces, supporting the buying and selling of NFTs.

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