More and more companies are investing in cryptocurrencies even if it is done with discretion from an institutional point of view. While some invest directly in certain projects, other companies may invest in blockchain startups, although this type of investment is less common.
Google invests 1.56 billion in blockchain companies
Blockchain technology is being adopted by many companies as we advance in the history of technology. Google, for example, is investing in it. Blockchain is at the heart of what could be a revolution on the web3, and is also used by web2 companies.
Blockdata is an analytics site that has documented the world’s top 100 companies, such as Google (Alphabet), and their investments in blockchain startups. The data is from the beginning of this year. Alphabet is currently the fourth largest company in the world, with a market capitalization close to $ 1.5 trillion.
Therefore, Google’s parent company, Alphabet, is the one that has invested the most in the cryptocurrency sector since last September:
- Alphabet ($ 1.5 billion invested);
- BlackRock ($ 1.17 billion invested);
- Morgan Stanley ($ 1.11 billion invested);
- Samsung ($ 979 million invested).
Many of these investors are companies whose core business has nothing to do with capital management. One way to highlight the fact that blockchain goes far beyond cryptocurrencies.
Alphabet invested nearly $ 1.56 billion between September 2021 and June 2022. The program aims to finance the giants of the web3 of tomorrow, the Internet of tomorrow (or today). Specifically, the structure has invested in:
- FireBlocks (digital asset transfer and storage platform)
- Dapper Labs (NFT company in the video game industry)
- Voltage (Bitcoin infrastructure for companies)
- Digital Currency Group (cryptocurrency capital company)
Research shows that major institutional brands participated in 71 funding rounds. These involve around 60 blockchains or startups focused on cryptocurrencies. It turns out that most of these startups provide services around NFTs. However, gaming markets and companies are also popular.
After web1 and web2, Google wants to help create web3
Google hopes to help create Web 3, just as it helped create Web 1 and 2. Google helped create the first two views of the Web and hopes to help create Web 3. It is important to understand the interest of Google for the creation of Web 3, because it was Google that helped build the first two generations of the Internet.
Internet users in the 1990s had access to free online information on sites like Yahoo and AOL. This generation of the Web is called Web 1.0 and it was the beginning of the Internet.
The early 2000s marked the beginning of Web2. A more open Internet for users thanks to the arrival of giant sites like Google or Facebook. Users were able to be more active on the web by posting on blogs, social sites, or forums.
Bitcoin is part of the web3 generation, the third generation of the Internet. The web3 is a more decentralized version of the internet, not owned by any large company. The Web3 wants to be the combination of the innovations of the web2 and replace third parties with blockchain technology, to allow people to have direct interactions without intermediaries.
The Metaverse is a 3D virtual world that will be connected to the Internet. This web, still in its infancy, will give users the ability to use cryptocurrencies to earn money from their content and use NFT to exploit their property rights on the web.
Over $ 6 billion has been invested in blockchain-related startups by large multinationals. Furthermore, blockchain companies have never raised more money than they do right now, despite the crypto winter falling on our wallets. All this points to the adoption of cryptocurrency and so-called Web 3 technologies.