Between September and June, the world’s largest companies invested $6 billion in blockchain firms. Google’s parent company, Alphabet, invested more in blockchain and cryptocurrencies than any other public company.

Figures compiled by market intelligence firm Blockdata revealed the US tech giant poured $1.5 billion into the space over nine months, focussing on just four blockchain companies: Fireblocks, Dapper Labs, Voltage and Digital Currency Group.

Other major investors included financial firms BlackRock and Morgan Stanley, which invested more than $2 billion combined, and South Korean electronics behemoth Samsung, which invested nearly $1 billion across 13 blockchain companies.

Between September and June, the 40 public companies tracked by Blockdata invested approximately $6 billion into a total of 61 blockchain and cryptocurrency startups.

Banks and financial institutions made up a large proportion of the public companies investing in the technology. Blockdata noted that the corporations are exploring specific use cases that complement their core offerings.

Given increased client demand, banks have increased exposure to crypto and blockchain services. This has led them to invest in crypto custody, asset management, and trading.

Blockdata blog.

Traditional corporations (Samsung, Microsoft, etc.) already support the blockchain landscape, as indicated by the funding trend over the years. Now, it is a matter of finding innovative companies and portfolios that add value to their core business growth and consolidation. Many of the companies that received investment offer some form of NFT, with funding going towards Web3 solutions for industries including gaming, arts and entertainment.

Side note: Instagram Adds Flow Blockchain NFTs.

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