Between September 2021 and mid-June 2022, Samsung invested in 13 crypto/blockchain companies, making the South Korean corporation the most active among the top 40 corporations. On the other hand, Google’s parent company Alphabet dominates the category of top corporations involved in the largest funding rounds.
40 corporations have invested 6 billion dollars
According to research firm Blockdata’s analysis of investments in blockchain and crypto startups by major corporations between September 2021 and mid-June 2022, South Korean electronics giant Samsung was the most active, investing in 13 companies. United Overseas Bank, which has invested in 7 companies, is the next most active and closely watched US financial services firm Citigroup (6) and Goldman Sachs (5).
According to the analysis, the number of crypto or blockchain startups funded by Samsung, United Overseas Bank, Citigroup and Goldman Sachs accounted for half (31) of the total startups (65) that raised capital during the review period. 40 top corporations.
While data on the exact amount invested by each corporation is not available, Blockdata’s analysis still provides an estimate of the amount invested by all corporations.
Between September 2021 and June 2022, the 40 companies have invested nearly $6 billion.
Meanwhile, when it comes to corporations that have been active in the largest funding rounds, Google’s parent company Alphabet tops this category after participating in rounds that have raised just under $1.51 billion. BlackRock is the second-largest investor in three funding rounds, raising $1.17 billion.
American financial services giant Morgan Stanley took the third place with $1.1 billion in two rounds, while Samsung was fourth with $979 million.
Corporations invest in NFT companies
As for the use cases that top corporations are looking for, Blockdata determined that 19 of the companies receiving funding are “some form of non-fungible token (NFT) solutions and services.” Twelve are shopping malls and eleven are providing gaming services.
Explaining the different investment approaches of top corporations, the research firm said:
Samsung is investing in 15 companies focused on different use cases in the blockchain ecosystem, such as blockchain services, development platforms, NFTs and social networks. On the other hand, Alphabet and BlackRock are taking a completely different strategy by betting heavily on a small set of companies.
What do you think about this story? Let us know what you think in the comments section below.
Image creditsShutterstock, Pixabay, Wiki Commons, Blockdata,
DisclaimerThis article is for informational purposes only. It is not an offer or solicitation to buy or sell, or a recommendation or endorsement of any products, services or companies. Bitcoin.com does not provide investment, tax, legal or accounting advice. Neither the Company nor the Author shall be liable, directly or indirectly, for any damages or losses arising out of the use of or reliance on any content, goods or services referred to in this paragraph.