Google’s Alphabet has invested a shocking $1.5B in blockchain startups

Alphabet, an American multi-corporation and parent company of Google, ranks highest to have participated in investment rounds in the blockchain/crypto industry.

According to Blockdata, the company invested a total of $1,502M or $1.5B in different startups includiazng, Dapper Labs, Fireblocks, Voltage, and Digital Currency Group.

After Alphabet, Samsung, BlackRock,  Morgan Stanley, Citigroup, and Goldman Sachs also rank high in the investment industry for blockchain space.

Based on the data collected, Alphabet invested $1.5B in 4 rounds, BlackRock invested $1,171M in 3 rounds, Samsung spent $979M in 13 rounds, while Goldman Sachs participated in 5 rounds & invested $698M.

Overall, 40 companies spent a total of $6B on blockchain startups from September 2021 to June 2022. The startups belong to different sectors such as “gaming, entertainment, arts, and distributed ledger technology (DLT).”

Google’s Alphabet seems to be leading the race for investments. Being the biggest and most relevant venture capitalist, the company might be making an effort to expand its existing brands into the Web3 world to stay authentic.

According to a Bloomberg report earlier this year, Shivakumar Venkataraman, an engineering VP for Google shared that the company aims to focus on  “blockchain and other  next-gen distributed computing and data storage technologies”  led by an executive.

With so many investments made by Alphabet, there’s no doubt that Google will soon incorporate blockchain technology in its infrastructure model or build a separate platform in Web3.