Samsung made 13 investments in cryptocurrency/blockchain companies between September 2021 and June 2022. It is the South Korean company that was most active among top 40 corporations. Google’s parent Alphabet firm, on the other hand, tops the category of top corporations that participated in the biggest funding rounds.
60 Corporations Invest $6 Billon
According to the research firm Blockdata’s analysis of investments in blockchain and crypto startups by top corporations between September 2021 and mid-June 2022, the South Korean electronics giant Samsung was the most active having invested in 13 companies. United Overseas Bank was the second most active, having invested in 7 businesses. It is closely followed American financial giants Citigroup (6 and Goldman Sachs 5).
The analysis shows that the amount of blockchain or crypto startups funded in this period by Citigroup, Citigroup, United Overseas Bank and Goldman Sachs is almost half (31), of the total (65) of those startups which raised capital from 40 of the top companies.
While the data on the exact amount invested by each corporation is unavailable, Blockdata’s analysis still gives an estimate of the amount that was invested by all the corporations.
“The 40 companies invested approximately $6 billion into blockchain startups between September 2021 and June 2022. Because some rounds involve participation from multiple investors, it is unclear how much each company invested in a project,” reads Blockdata’s research report.
Alphabet, Google’s parent, is at the top of the list for corporations who participated in large funding rounds. It had raised $1.51 Billion in these rounds. Blackrock comes in second, having taken part in three rounds of funding that raised $1.17billion.
American financial giant Morgan Stanley is third after participating in two rounds that netted $1.1 billion. Samsung, however, occupies fourth with $979million.
Corporations invest in NFT Companies
Concerning the use cases that top corporations are interested in, Blockdata determined that 19 of the companies receiving funding were in “some form of non-fungible tokens (NFT) solutions and services.” Twelve are marketplaces while eleven are in the business of providing gaming services.
Research firm explained that top corporations have different approaches to investing.
Samsung invests in blockchain companies that are focused on 15 specific use cases. Alphabet, Blackrock and others are using a different strategy. They focus their investments on a small number of companies.
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Image creditShutterstock. Pixabay. Wiki Commons. Blockdata.
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