Google’s parent Alphabet is major blockchain investor, Samsung joins PayPal, Microsoft to list

Google’s Parent Alphabet Is Major Blockchain Investor, Samsung Joins List With PayPal, Microsoft

According to a recent report compiled by market intelligence platform Blockdata, the parent of search engine giant Google, Alphabet, has emerged as a major investor in the blockchain startup ecosystem. In a statement shared with Gadgets 360, a Google spokesperson confirmed that Alphabet has invested in a number of startups, which have collectively raised about $1.5 billion (about Rs 11,900 crore) in funding from other venture capitalists. . Investment management firm BlackRock, investment bank Morgan Stanley and tech major Samsung have ranked second, third and fourth on the same list for making substantial investments in the blockchain space over the past eleven months.

A total of 40 companies collectively invested around $6 billion (about Rs 47,600 crore) in blockchain start-ups between September 2021 and June 2022.

While Alphabet is the largest investor capital-wise, South Korea-based Samsung has emerged as the most active investor in blockchain technology.

“Samsung is the most active, having invested in 13 companies. UOB came in second with seven investments, followed by Citigroup with six, and Goldman Sachs with five,” said Blockdata. Told in its analysis.

Google is watching the blockchain space closely, its CEO Sundar Pichai revealed in early February, calling the sector “an interesting and powerful technology with wide-ranging applications.”

Google is allowing the integration of Google Pay with crypto firms such as crypto firms to facilitate the purchase of crypto assets.

Meanwhile, Samsung has also been making strides in the blockchain and crypto sector in the recent past.

In January, the smartphone mammoth revealed a new “NFT aggregation platform” for a range of its smart TVs that lets people browse NFTs for sale and even buy them via TV sets. Is. The company is also integrating its latest flagship Galaxy Fold 4 with the NFT ecosystem.

The blockchain sector, despite being in its infancy, is attracting a lot of capital from industry around the world.

Goldman Sachs, BNY Mellon, PayPal, Microsoft, Commonwealth Bank, Prosus, Tencent, Citigroup, UOB, Wells Fargo, LG, as well as American Express ranked from fifth to sixteenth on BlockData’s list of top investors in the blockchain sector.

Earlier in May, analytics firm Messari and Dove Metrics claimed that in 2021 a total of $30.2 billion (about Rs 239,700 crore) was raised by Web3 firms in 1,313 rounds.

More than a third of the total funds raised went to the centralized finance (CEFI) sector, leading to $10.2 billion (about Rs 80,800 crore) in investments. CeFi allows people to route all crypto trading orders through centralized exchanges.


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